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Fort Smith agrees to buy 623 Garrison Avenue for $4 million; board approves outright purchase pending due diligence
Summary
After public comment and financial review, the board amended a financing resolution and authorized purchase of 623 Garrison Avenue using unobligated 2025 general fund balance, with final approval contingent on completion of due diligence.
The Fort Smith Board of Directors on Jan. 7 amended a financing resolution and directed staff to purchase 623 Garrison Avenue for $4,000,000 using unobligated general fund balance, with final approval to follow completion of a 30‑day due diligence period.
Staff introduced the financing options, noting a proposed 20‑year financing plan backed by a dedicated portion of franchise fees would incur about $2,800,000 in interest. During public comment, Kim Fodge and Dan Williams urged the board to buy the…
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