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Alta reports near‑complete acquisition and lease plans for OLS building; radon mitigation done
Summary
Town staff reported execution of the OLS purchase contract (June 30), submission and near‑finalization of required special‑use and lease documents, completion of radon mitigation work and progress on a property management agreement with ACE to continue programming.
The council heard an update on the town's recent purchase of the OLS property. Staff reported that the real estate purchase contract executed on June 30 is in place and that the town submitted a special‑use permit application; staff expects permit finalization within about a week.
Lease negotiations with ACE were described as near complete, and staff said they expect to finalize a property management agreement in the coming weeks to allow ACE to continue programming and rentals. Personnel performed radon mitigation the same day as the meeting and staff will retest to confirm results.
Staff said they were cleaning out items left from the prior occupant and beginning to plan modest front‑of‑building improvements such as signage. Staff emphasized the building is primarily concrete construction, which benefits insurance replacement cost and was noted earlier in the insurance presentation.
Council and staff said they would proceed with finalizing lease and management agreements and will return with details to the council once documents are executed.
