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Council authorizes city to buy remainder of Empire Hotel property, appropriates up to $500,000
Summary
Salisbury approved a resolution authorizing the city manager to execute closing documents to purchase the remainder of the Empire Hotel property from Downtown Salisbury, Inc., and adopted a budget ordinance to appropriate up to $500,000 in fund balance for the purchase.
Salisbury City Council on March 4 authorized the city manager to sign closing documents to purchase the remainder of the Empire Hotel property from Downtown Salisbury, Inc. and approved a budget amendment appropriating up to $500,000 in fund balance for the purchase.
Downtown Development Director Seda Trappman explained the transaction and said the city’s proposed purchase would pay off the remaining loan on the property (staff cited a current payoff figure of about…
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