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Board reviews nonbinding letter of intent for sale of stormwater building at 5175 Murfreesboro Road
Summary
City staff discussed a proposed nonbinding letter of intent to sell the former stormwater codes building for $1,050,000; some aldermen requested a new appraisal before a final sale decision.
City staff presented a proposed nonbinding letter of intent to sell the property at 5175 Murfreesboro Road (the stormwater codes building) at the Jan. 30 workshop, disclosing a proposed purchase price that matches the most recent appraisal and prompting board members to request updated valuation information.
Staff said the board previously authorized negotiations for the property and that Grinsley Holding / ZRC PropCo LLC proposed a…
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