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Rutherford County committee authorizes pursuing purchase option for 120 East Main with up to $9.5 million from fund balance
Summary
The Budget, Finance and Investment Committee on Aug. 7 approved forwarding a purchase option for 120 East Main Street and authorized up to $9.5 million from unassigned fund balance to cover the $9.2 million purchase price and related due‑diligence and closing costs.
The Budget, Finance and Investment Committee on Aug. 7 approved forwarding a real‑estate purchase agreement for 120 East Main Street to the Purchasing Committee with a positive recommendation and authorization of up to $9,500,000 from unassigned fund balance to cover the $9,200,000 purchase price and related due‑diligence and closing expenses.
Under the negotiated agreement, the county would deliver a $50,000 refundable earnest deposit to open a 120‑day inspection period to undertake structural, mechanical, roofing and other systems reviews. If the county elects to proceed after that inspection window, the contract includes a permitting…
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