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Riverdale RDA votes 3-1 to deny purchase of 11.36-acre parcel at 4600 S. 600 W.
Summary
Riverdale's Redevelopment Agency declined a proposed purchase of an 11.36-acre parcel at 4600 S. 600 W. after members questioned valuation, reuse, maintenance and the proposed purchase-price structure; vote to deny passed 3-1.
The Riverdale Redevelopment Agency voted on Aug. 5 to deny a proposed real-estate purchase of 11.36 acres at 4600 South 600 West (owned by Mike Ford / Clearfield Business Park LLC) after a lengthy discussion about valuation, maintenance and future reuse.
Staff presented an appraisal value of $1,480,000 and a negotiated contract in which the agency would pay $750,000 cash at closing while the seller would treat the remaining $730,000 as a charitable contribution…
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