Opelika CRA approves $3 million purchase of downtown parcels, amends budget to fund acquisitions

The Opelika Community Redevelopment Agency voted unanimously on Wednesday, Jan. 22, 2025, to authorize the executive director to buy a group of downtown parcels for $3,000,000 and to amend the agency's fiscal-year operating and tax-increment budget to fund the purchase.

The purchase resolution covers a property listed in the meeting record as 240 Baumann (variously referenced in the transcript as “Bayman” or “Bahman”) and four associated parcels; the director read the other addresses into the record as 861 Salit Street, 241 Opelika Boulevard and 291 Opelika Boulevard. Agency staff said negotiations began in November and the seller’s original asking price was $3,800,000; the CRA’s appraisal came in at $3,000,000, which the agency offered and accepted.

Board chair Russell called for the motion to authorize the director and CRA attorney to complete title work and closing; the motion was moved by Board Member Kelly and seconded by Board Member Santiago. The board voted 7–0 to approve the purchase resolution.

Why it matters: CRA members said owning the properties gives the agency control over downtown redevelopment near city hall and park space, and reduces the risk of an outside buyer placing an undesirable use on the site. The director and several board members said the…