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CRA authorizes contract to buy Tropicana parcel at 1001 Ninth Ave. E. for $900,000; 45‑day due diligence included
Summary
The CRA authorized execution of a purchase contract for a 2.5‑plus acre Tropicana parcel at 1001 Ninth Avenue East for $900,000 with a $25,000 deposit and a 45‑day due diligence window for appraisal and environmental review.
The Community Redevelopment Agency authorized execution of a purchase contract for a 2.5‑plus acre parcel at 1001 Ninth Avenue East (owned by Tropicana Manufacturing Company, Inc.) at a purchase price of $900,000 with an initial deposit of $25,000. CRA Manager Chris Mignon told the board the site is in the Downtown CRA, zoned urban commercial core, and could support residential development and affordable housing options.
Mignon described redevelopment options including placing the land into a community land trust, partnering…
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