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Cottage Grove council approves sale of industrial parcel to storage buyer with extended due‑diligence
Summary
Council held a public hearing and approved a purchase and sale agreement to sell an industrial park parcel (tax lot 20‑03‑32‑43‑01400) for $728,440, accommodating a buyer request for a 30‑day due‑diligence extension in exchange for an additional $5,000 nonrefundable earnest payment, subject to city attorney approval.
After a public hearing, the Cottage Grove City Council approved the sale of a city‑owned industrial parcel (tax lot 20‑03‑32‑43‑01400) to a private buyer for $728,440 and authorized the city manager to sign the purchase and sale agreement, accommodating the buyer’s requested 30‑day due‑diligence extension with an additional $5,000 nonrefundable earnest money payment to be applied to the purchase price if the transaction closes.
Public Work…
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