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Ports commission approves amended sale of 3920–3930 property after developer cites $4M-plus soil costs
Summary
The Ports of Important Industrial Commission voted 6–0 to authorize an amendment reducing the sale price of the property at 3920–3930 (transcript shows variant spellings) to $600,000 after the developer reported extensive environmental and soil remediation costs.
The Ports of Important Industrial Commission voted unanimously to approve a resolution authorizing an amendment to the purchase-and-sale agreement for 3920–3930 Burgess/ Burton Point Road that reduces the purchase price to $600,000 and restricts the property’s use to the proposed industrial development.
Miller, reading the resolution, said the purchaser — identified in the document as SFG Properties LLC — has documented environmental and soil conditions that the developer estimates will require "over $4,000,000 in unanticipated development costs," including underground stormwater detention, importing "over 65,000 cubic yards of soil," and installing…
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