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Council approves second amendment to Magnus Capital purchase agreement; city to receive about $2.1 million
Summary
Council approved a second amendment to the purchase and development agreement with Magnus Capital Partners LLC, delaying closing and confirming developer changes; staff said the city will receive roughly $2.1 million, with $1.7 million earmarked for partial funding of the marketplace and $400,000 payable to the city upon closing.
The Wyoming City Council on Dec. 2 approved a second amendment to the purchase and development agreement with Magnus Capital Partners LLC related to multiple parcels around 28 West Place.
City staff said the developer acquired an additional parcel (the former Frankie V’s restaurant) and revised the site layout accordingly, which prompted a second…
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