Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Sale topic
No spam. Unsubscribe anytime.
Board rejects low bid for 245 W. Exchange, republishes sale at $150,000 minimum
Summary
After concluding the initial bid for 245 West Exchange Street did not meet the district's required minimum, the board voted to reject the bid and to republish the sale with a new minimum bid of $150,000.
The Sycamore board voted to reject an offer for 245 West Exchange Street because the bid did not meet the district's minimum required amount, and later approved republishing the property for sale with a new minimum bid of $150,000. At the meeting, the board took a recorded roll-call vote to reject the initial bid as nonqualifying under the district's supply and sale procedures and then voted to republish the property at the revised minimum. The board also discussed engaging a broker for the sale but did not take formal action on a broker at this meeting. Staff will republish the bid solicitation with the new minimum and continue the public sale process under applicable district regulations and any statutory notice requirements.
