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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 adjacent farmland had sold for more than the city's per-acre price.
Councilmembers and staff noted appraisal and site-condition differences. A staff member said the appraisal for the 24.99-acre parcel came in at $25,000 per acre and council discussion identified topography and undermining as factors that limit usable buildable area. Councilmembers emphasized that the approvals before them were not final land-use approvals but contract authorizations contingent on future zoning and regulatory clearances.
The sale resolution instructs the mayor to execute a real-estate contract for the 24.99-acre parcel, subject to final city approvals. The companion purchase resolution authorizes the mayor to execute a contract to buy 6.25 acres from the same seller, likewise contingent on final city zoning and governmental approvals; the record shows no appraisal was completed for the 6.25-acre purchase.
Both measures passed on roll call votes. The council recorded no amendments to either contract during the meeting. Council discussion noted that usable acreage and site topography affect appraised value and anticipated buildability.
The sale and purchase are tied in the meeting record to proposed development activity in the Park Place area; the council later set a public hearing on a Park Place special business district (separate action). Because both property actions are contingent, final transfer and any tax- or district-related approvals will depend on later public hearings and zoning actions.
Details from the meeting record: the sale parcel was listed as 24.99 acres sold for $1,000,000; the purchase parcel was listed as 6.25 acres purchased for $250,000. The appraisal on the sale parcel was stated to be $25,000 per acre; no appraisal was reported for the purchase parcel. The motions and roll-call approvals appear in the council minutes as contingent on "final approvals of all zoning and governmental requirements by the city."
