NORWAY – The Western Foothills Land Trust is interested in buying a 10.5-acre parcel left over from a technology park project that cost six towns hundreds of thousands of investment dollars.

Lee Dassler, trust coordinator, said Friday that board members met and agreed to hire an appraiser as a first step toward the possible purchase of the land. Once the appraisal is in hand, the board will develop a proposal to bring to the Growth Council of Oxford Hills, which owns the Lake Road land overlooking Lake Penneseewassee.

The trust paid $310,000 last year for 150 acres of the original 161-acre parcel. It owes $70,000 on the purchase after receiving an $87,000 grant last week from the Land For Maine’s Future Board.

Ten years ago, six towns invested about $370,000 in a failed attempt to develop a technology park there.

At the time the trust bought the land from the growth council, the council left 10 acres out of the sale with the intent to sell the property to a developer to pay back the towns for their investment. When that failed, and with no money to go forward to market the land, the council decided to give the land to the towns so they could sell it.

Growth council Chairman Jim Delamater said Friday that the group will meet on Aug. 19 to decide what direction it will take to dispose of the land. If the trust decides to continue its pursuit of the land, its proposal will be on the table.

Council officials say they must sell the land in order to dissolve the council. They said they offered it to the towns as a way to expedite the process.

“We were surprised,” said Delamater of the board’s reaction to word that the majority of town officials representing original investors balked at the offer, saying they wouldn’t put another dime into the property.

“We thought it was a done deal. … We thought it was the best way to manage the process. It made a lot of sense,” said Delamater of a meeting held Wednesday where the council felt town officials would be planning how they would market and sell the property.

“The simple solution for the towns has now failed. They want us to sell it. The board will now discuss how can we do that.”

Otisfield has the largest investment in the land at 58.4 percent, or an estimated $180,000. Harrison and Norway invested 13 percent, or about $20,000, followed by 6 percent from Oxford and Paris and 3 percent by Waterford.

Delamater said one thing is certain. The council will not be able to hold onto the land for long regardless of the condition of the real estate market.

“Trying to dissolve continues to take more time than we ever imagined,” he said.