Council approves sale of city property in Collins Road Extension urban renewal area to 530 Investments LLC

The Marion City Council approved Resolution No. 32,415 on June 5 to authorize a purchase agreement and memorandum of understanding with 530 Investments, LLC for city‑owned property in the Collins Road Extension Urban Renewal Area, described at the meeting as Marion Airport Runway property.

Council moved and seconded the resolution and approved it by voice vote; no public comments opposing the transaction were recorded in the meeting minutes. Staff did not present sale price or detailed contract terms during the public council discussion at the meeting.

The resolution transfers authority to finalize the purchase agreement and associated memorandum of understanding consistent with the urban renewal area plan and staff recommendations. Council did not discuss additional conditions or required approvals at the meeting; subsequent contract processing and any required compliance with urban renewal plan provisions were expected to follow administrative procedures.

No amendment or motion to table the resolution was made; the vote carried and staff will proceed with closing steps per the terms authorized by the resolution.