Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Commission waives city’s reversionary interest for 1275 Dudley, transfers reverter to buyer contingent on identical language
Summary
The commission agreed to waive the city's reversionary interest in the deed for 1275 Dudley Avenue contingent on simultaneous execution of a new deed by the buyer that includes identical reversionary language; staff said action is meant to secure home construction while preserving the city's reverter rights if conditions are not met.
The City Commission on March 11 approved staff’s recommendation to waive the city’s reversionary interest in the deed for 1275 Dudley Avenue on the condition that the buyer execute a new deed containing identical reversionary language so the city’s right to revert the property remains enforceable if development conditions are not satisfied.
Jake Eckholm, director of development services, explained the background: “So this 1 is an unusual situation...the city sold this lot in the Marquette neighborhood to…
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
