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La Porte board approves sale of 2510 Monroe Street to Learning Tree tenant
Summary
At a Sept. 24 special meeting, the City of La Porte Board of Public Works and Safety approved a purchase agreement to sell 2510 Monroe Street to Philip Jenkins, the property's current tenant, for $515,000 after two appraisals averaged $502,500.
The City of La Porte Board of Public Works and Safety on Sept. 24 approved a purchase agreement to sell 2510 Monroe Street to Philip Jenkins, the current tenant operating as the Learning Tree, for $515,000.
Craig Phillips, a city staff member who presented the item, said the sale has been through public bidding and that "the average of the two appraisals came in at $502,500; the purchase agreement is for $515,000." He said the city received only one bid and that the agreement is intended to move the transaction to closing.
The vote took place at a special meeting called at 2:15 p.m. The board's roll call showed two members present and one absent; the motion passed among those present. City officials said the proceeds will be placed in the city's cash/savings account.
Board members also commented on the Learning Tree's role in the community, noting its childcare services and collaborations with the local school system, and said they expect the buyer to make property improvements. The presentation noted the sale followed an earlier Board of Works recommendation to approve the sale after the bidding and appraisal process.
The meeting record indicates the sale is now under the terms of the purchase agreement and will proceed toward closing; no additional conditions or financing breakdowns were specified during the meeting.
Less critical business at the special meeting was brief; public comment and department head reports were passed over and no other substantive actions were recorded.
