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Council approves sale of 0 Dexter Road for $280,000; attorney says other offers were contingent
Summary
The council approved the second‑reading sale of city property at 0 Dexter Road to Rockwood LLC for $280,000. City attorney told the council competing offers introduced contingencies and were nonconforming to the original bid terms.
The Memphis City Council approved on March 18 a second‑reading resolution to sell a city parcel at 0 Dexter Road for $280,000 to Rockwood LLC, after city attorneys advised the body that alternate offers contained contingencies that made them nonconforming.
Attorney Wade, representing the city, told the council the lot is part of the Gardens of Grays Creek planned development and was formerly intended for a power station that was never built. He said the city received multiple offers but recommended approval of the Rockwood bid because it was a binding (non‑contingent) offer and the other bids included extended due‑diligence or other contingencies.
"What you have now is a binding bid. You have a bird in the hand as opposed to something that may never materialize," Attorney Wade said. He explained that under city ordinance, property valued at more than $20,000 requires two readings; the council had already approved the first reading and considered competing bids at second reading only if they conformed to the original terms.
Wade described two other offers: one for $500,000 that proposed a gas station, which he said was not currently relevant, and another from a Norman Salim that the transcript described verbally but which included an extended 90‑day due‑diligence period and additional contingencies. Wade said those contingencies made the subsequent bids nonconforming and therefore not preferable to the binding Rockwood offer. He also said the purchaser must close within 10 days after the due‑diligence period ended or after council approval, per the contract terms.
Vice Chair Janice Swearingen Washington moved approval; Councilman Spinoza seconded. The council recorded the vote as: Easter Thomas — yes; Jerry Green — yes; Rhonda Logan — yes; Spinoza — yes; Janice Swearingen Washington — yes; Pearl Iba Walker — yes; Janice Warren — yes; Janika White — yes; Ford Canale — yes. The resolution passed.
The council’s action transfers the property under the terms described by the administration. Attorney Wade’s remarks and the council record make clear that the approval was of a sale contract presented at second reading; any future land‑use applications tied to the site would follow standard permitting and zoning processes.
Votes at a glance: Item 14 — sale of city parcel at 0 Dexter Road (parcel ID D020900531) for $280,000; motion moved by Janice Swearingen Washington, seconded by Spinoza; outcome — approved.
