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EDC approves property-exchange agreement to clear way for Home2 Suites project
Summary
Rio Grande City EDC approved a conditional real estate exchange with Sandu PA Investments B LLC to allow development of a Home2 Suites hotel behind the public safety building, subject to legal revisions and final city commission approval.
Rio Grande City Economic Development Corporation directors voted to approve a conditional real estate exchange agreement with Sandu PA Investments B LLC that would allow a Home2 Suites hotel to build behind the city's public safety building.
EDC staff presented the agreement, saying the exchange would transfer 1.7 acres at the end of Ratner Drive to the city in return for Lot 2 in the public safety subdivision. "Before you in your packet is an agreement for a real estate exchange with Sandu PA…
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