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City staff outlines sale and land‑disposition steps for 205–213 Main Street after demolition
Summary
Staff told the CDBG steering committee that the demolition at 205–213 Main Street is complete and that the city is preparing purchase and land‑disclosure agreements required for sale in the urban renewal zone.
City staff updated the CDBG steering committee on the post‑demolition disposition of 205–213 Main Street. Staff said above‑ground demolition is complete and that the city is drafting the purchase and sale agreement and the land disclosure (disposition) agreement required for properties in the urban renewal zone.
The Executive Office of Housing and Livable Communities must review and approve the land disclosure agreement before the sale can proceed; staff said EOHLC will require a new land appraisal and will provide edits to the disclosure language. Because of urban renewal procedures and the EOHLC review, staff estimated the full sequence from accepted offer to closing is likely to take about 180–200 days, longer than a typical 30–60 day residential closing.
Staff noted these procedural steps and the need to coordinate with legal counsel for both the buyer and the city. The committee was told that once EOHLC provides its edits and approvals and both parties agree on the purchase and sale and land disclosure language, the city can move to signatures and closing.
