Council approves sale terms for former ConAgra parcel to Tri Band Investment LLC

The Huron City Council voted Jan. 14 to approve Ordinance 2025-02 authorizing the sale of the city-owned former ConAgra parcel to Tri Band Investment LLC and to declare the ordinance an emergency measure. The sale is structured at $750,000, with $250,000 due at closing and the remaining $500,000 secured by a city mortgage and paid back at $10,000 increments tied to the sale of residential units.

Why it matters: the transaction clears a major step toward redevelopment of a large, formerly industrial parcel in Huron. The ordinance requires follow-up development agreements, easements and municipal approvals to ensure public access and to define responsibilities for roads and utilities before final transfer.

Details the council recorded in the meeting: • Purchase price and payment schedule: $750,000 total; $250,000 due on sale/closing, $500,000 deferred and secured by a city mortgage until paid in full. • Unit-sale contingency: the deferred payments are structured as $10,000 increments tied to the sale of the first 50 residential units (council discussed a 94-unit plan under current designs). • Earnest money: a $25,000 refundable earnest-money deposit was noted; refundability is limited to specified conditions such as due-diligence findings or failure to secure necessary approvals. • Due diligence: Tri Band has up to 270 days for due diligence (geotechnical, environmental phase 1/2 and related studies). • Public-access easement and development agreement: the city will retain perpetual easement rights for public access around the perimeter and expects the developer to construct roadways and utilities; a development agreement will be brought to council prior to transfer to formalize responsibilities.

Council questions and staff answers: councilmembers pressed on timeline and security for deferred payments. City staff said there is no fixed timeline for full repayment of deferred funds but the city retains a mortgage to protect its security interest. Staff said they expect the developer to begin due diligence immediately and hoped the project could reach the planning commission by late summer or fall, but made no guarantees.

What happens next: staff will draft and return with a formal development agreement and easements prior to any real-estate transfer. Council also discussed completing outstanding approvals related to ODNR property dedications that must be recorded before final conveyance.

Attribution: City Manager Doug Lasco and City Attorney Mister Schrader presented and answered questions; Council discussion included Councilmembers Dyke and others.