PANAMA CITY, Fla. (WMBB) — WestRock officials apparently agreed to sell 27 acres of land to the Panama City Port Authority in 2016. The port approved the agreement and is paying $6.5 million for the property.

The port authority has been paying the property taxes on the property since its agreement with WestRock in 2016.

The land is located next to the port’s eastern terminal, giving the port room to expand.

“What that 27-acre parcel’s going to do is ensure the port’s able to grow for generations to come,” Panama City Port Executive Director Alex King said. “As mentioned the port needs to continue to grow to remain competitive, attract new maritime activity, remain a busy port and continue to provide a lot of activity.”

King said property taxes paid will be deducted from the total price.