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Arkansas City trustees approve sale of 606 South Summit lot to applicants after price negotiation
Summary
At the Aug. 19 meeting, Arkansas City trustees voted to sell a city-owned lot at 606 South Summit Street to applicants Joshua and Nicole Holt for a reduced upfront payment after discussing appraisal, demolition costs and payment terms.
Arkansas City trustees voted Aug. 19 to sell a city-owned vacant lot at 606 South Summit Street to applicants Joshua and Nicole Holt, approving the transfer after brief discussion and negotiation over price and payment terms.
President Stover introduced the item, saying the lot was acquired by the city at a tax sale in 2020. City staff reported the county appraised the parcel at about $17,000, but the city’s purchase price in 2020 was $3,500 and the department noted roughly $90,000 in demolition fees associated with the site — a cost the city does not expect to recover.
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