Aiken council approves sale of downtown parcel to Oliver Hospitality, setting stage for Hotel Aiken redevelopment

The Aiken City Council on Oct. 13 voted to move forward with a negotiated purchase-and-sale agreement that would transfer downtown property to Oliver Hospitality Group and enable redevelopment of the Hotel Aiken site.

Staff summarized the agreement’s core terms: a $2,500,000 purchase price, a $50,000 earnest-money deposit at signing, a 120-day buyer inspection period (with a possible 60-day extension), and a closing no later than 30 days after the inspection period ends. The city would provide up to $200,000 toward design fees to be paid to the buyer at closing, and the sale is conditioned on negotiating a development agreement that addresses a parking garage and other project responsibilities. "The purchaser will have a 120 day inspection period," the staff summary said, and "the city will provide funds…