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Scotts Valley opens escrow on town center property; specific plan and EIR work continues
Summary
City staff said escrow opened this week on the town center purchase and that the city is in due diligence while continuing work on the specific plan and environmental impact report.
Scotts Valley city staff said the city opened escrow this week on the purchase of the town center property and expects to complete due diligence and close by the end of the fiscal year.
City Manager (name not specified) told the City Council that staff are in the due-diligence period and that closing is anticipated by the end of the fiscal year, after which the city plans to host summer events at the site. The city manager said community development staff and the city attorney are meeting regularly with consultants to keep the town center specific plan and environmental impact report (EIR) on schedule.
The comment came during the city manager’s regular report, in which staff also noted rising meeting activity on the town center as the project moves from planning toward implementation. Community Development Director Bateman and City Attorney Powell were identified as regularly meeting with consultants on the specific plan and EIR.
Council members did not take a formal action on the acquisition at the meeting; the city manager characterized the current phase as due diligence. No purchase price or escrow contingencies were disclosed in the council presentation.
The council will receive further updates as the due-diligence period concludes and as the specific plan and EIR advance toward public review and decision points.
