The Hoover City Council on Nov. 20 heard from staff about an offer to buy a city‑owned property known as the 3021 Building for $1,900,000, the same price the city originally paid, with $5,000 in nonrefundable earnest money and a suggested 48‑hour break clause that would allow the city to accept a better offer and require a rapid, no‑contingency close.

Mister Waldrick, who presented the contract terms, said the prospective purchaser plans roughly $2.5 million in renovations and that the city would be responsible for a $25,000 brokerage fee from the sale proceeds. He recommended the council proceed and take the contract up at the regular Monday meeting. "We are responsible for $25,000 brokerage fee… $5,000 in earnest money that's not refundable," he said. "The only change that we're suggesting is that we put a break clause in that says that if someone in our sole opinion makes us an offer that's better than that, that once we notify them, they have to agree to close with no contingencies in 48 hours." (Speaker 9)

City staff noted the property was acquired several years ago. Mister Waldrick said the buyer's renovation work would increase taxable value and that the city currently does not pay property tax on the building; the city's share of future property tax revenue was discussed as ongoing income for both the city and the school board. "You're going to get more sales tax back from the building than you're paying in the brokerage fee," Waldrick said, citing an expected return from construction activity.

The council did not take a final vote in the work session. Mayor (Speaker 1) said the sale contract would be placed on the Monday council agenda for formal consideration. Council members asked clarifying questions about closing terms and tax implications but did not resolve them in the work session.

What's next: The sale contract will appear on the council's Monday agenda for formal action; terms mentioned in the work session include the $1.9 million price, $5,000 nonrefundable earnest money, a $25,000 brokerage fee and the proposed 48‑hour break clause.