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Board approves nonbinding letter of intent for sale of 5175 Murfreesboro Road; appraiser cost and buyer cited
Summary
The board approved a nonbinding letter of intent for the prospective sale of city-owned property at 5175 Murfreesboro Road. City staff discussed a potential reappraisal cost and said the prospective buyer, Zaxby's, had committed an LOI.
The La Verne Board of Mayor and Aldermen approved a motion on Feb. 4 to authorize a nonbinding letter of intent relating to the prospective purchase and sale of city-owned property at 5175 Murfreesboro Road. The property was described on the record as being offered to Guernsey Holdings / ZRC PropCo LLC, and the discussion included appraisal timing and market considerations.
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