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Council approves contingent sale of 24.99 acres to Pier Property Group and purchase of 6.25 acres
Summary
O'Fallon City Council voted to sell 24.99 acres to Pier Property Group LLC for $1,000,000 and to buy 6.25 acres from the same company for $250,000. Both actions are contingent on final zoning and other governmental approvals; the sale and purchase drew public questions about appraisal and comparative market value.
The O'Fallon City Council voted to authorize the mayor to sign a contract to sell 24.99 acres to Pier Property Group LLC for $1,000,000 and separately approved a contract to purchase 6.25 acres from Pier Property Group LLC for $250,000. Both measures were approved contingent on final project assembly and city zoning and other governmental approvals.
The votes came after residents raised questions during the public-comment period about whether the sale price reflected current market values for nearby farmland. A resident identifying themselves as Rollins Elms of Ward 6 told the council, "I think we left some money on the table," saying…
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