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Council approves sale agreement for two city lots to Community Reimagined for six townhomes
Summary
Monroe City Council approved a purchase agreement to convey 1026 and 1030 East Second Street to Community Reimagined LLC for $1, contingent on site-plan approval and construction milestones; the council reserved the right to repurchase if conditions are not met.
Monroe City Council on Dec. 2 approved a purchase agreement to convey two adjacent city-owned lots at 1026 and 1030 East Second Street to Community Reimagined LLC for a proposed price of $1, contingent on site-plan approval and construction milestones.
Assistant City Manager and Director of Economic Development Mark Cochran told the council the properties, at the southwest corner of East Second and Winchester, were acquired by the city through tax foreclosure and are vacant. The city will not convey title until Community Reimagined secures site-plan approval; after approval, the closing must…
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