EDA approves $900,000 purchase agreement for High Street parcels after closed meeting
Get AI-powered insights, summaries, and transcripts
Subscribe
Summary
Following a closed session on negotiating strategy, the Portsmouth EDA adopted a resolution approving a purchase agreement for multiple High Street parcels at a $900,000 purchase price to support Lake District revitalization and authorized execution and implementation steps.
After convening a closed meeting to discuss negotiating strategy for real‑property acquisition, the Portsmouth Economic Development Authority returned to open session and approved a resolution to ratify a purchase agreement for multiple High Street parcels.
The resolution, moved by a commissioner and read into the record, listed the addresses that the purchase agreement covers and stated the purchase price is $900,000. The resolution said the acquisition will further revitalization of the Lake District; the chair, vice chair and secretary were authorized to execute the agreement and take steps necessary to implement its terms. Commissioners adopted the resolution by roll‑call vote, 6–0.
Separately, the board approved adding an item on 219 Pavilion Drive to the open agenda and later authorized the chair to grant a 30‑day extension of the feasibility period for that property if requested by the purchaser; both actions passed 6–0.
Next steps: staff will proceed with execution of the purchase agreement and carry out implementation actions authorized by the resolution; the chair may grant a 30‑day extension for 219 Pavilion Drive if requested.