Middletown approves sale of 11‑15 King Street to Denali Realty Ventures; one abstention
Get AI-powered insights, summaries, and transcripts
Subscribe
Summary
The board authorized the sale of 11‑15 King Street to Denali Realty Ventures LLC (with O'Connell Family Contracting LLC involvement) for $500,000 with $50,000 down and $450,000 noted as interest‑only for three years; Rodriguez recorded an abstention.
The Board of Estimate approved an authorization to accept a contract of sale for 11‑15 King Street with Denali Realty Ventures LLC in partnership with O'Connell Family Contracting LLC. Unidentified Speaker 1 described the procurement path as an RFQ/RFP process and read basic terms of the deal: a $500,000 sale price, $50,000 down payment, and $450,000 structured as interest‑only for three years, according to the verbal record.
Brandon Connors was asked a clarifying question during the discussion. Rodriguez stated he would abstain from the vote; Unidentified Speaker 1 recorded Rodriguez's abstention for the record. The motion was moved by Unidentified Speaker 1 and seconded by Mr. Massey; the board approved the sale with Rodriguez abstaining.
The transcript indicates the contract documents and attachments were included with the agenda packet; staff said the contract of sale was attached for review. The board did not discuss amendments to the sale terms on the record.