Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council approves sale and DDA for Porsche dealership at Lincoln and Manchester; staff cites $9.1M adjusted price and $1.1M annual sales-tax estimate
Summary
After a public hearing, the council approved a disposition and development agreement with Manchester Lincoln LLC to sell a 2.8-acre former RDA parcel for a Porsche dealership and service facility; staff said the adjusted purchase price is $9.1 million, with the city's share of sale proceeds and an estimated $1.1M in annual sales tax.
The council approved a disposition and development agreement with Manchester Lincoln LLC to sell a 2.8-acre former redevelopment property at West Lincoln Avenue and Manchester for a Porsche dealership and service center.
Economic development staff said the city's appraisal yielded a $10.4 million valuation, reduced by $1.2 million for extraordinary costs tied to utilities and work in the abandoned Manchester Court right-of-way and a $200,000 escrow…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
