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Jenks economic authority approves contract to pursue purchase of Village on Main property
Summary
The Jenks Economic Development Authority approved a resolution to execute a purchase-and-sale agreement and begin 90 days of due diligence on the Village on Main complex — a proposal that would acquire a five-story parking garage, adjacent commercial buildings and a 10,000-square-foot shell building for potential city offices, police relocation and a senior center.
The Jenks Economic Development Authority on Dec. 2 voted to authorize execution of a purchase-and-sale agreement that would let the authority perform 90 days of due diligence on the Village on Main property, a two-parcel commercial complex that includes a five-story parking structure and two retail buildings.
City Manager Mister Shrout told the authority the agreement covers a close-to-acre parcel with a five-story garage of about 182,000 square feet and roughly 525 parking spaces, plus a 1.89-acre parcel containing two buildings totaling about 26,000 square feet and 112 parking spaces. The proposed purchase price is $16,000,000, with $100,000 in earnest money due three days after the contract’s effective date.
“This contract before you is for two parcels,” Shrout said in…
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