Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Real Estate topic
No spam. Unsubscribe anytime.
Eddy County approves $2 million offer to buy 19.35 acres at fairgrounds
Summary
The commission approved purchasing approximately 19.35359 acres with building improvements near the fairgrounds for an agreed price of $2,000,000 and authorized the county manager to handle the closing and related documents.
The Eddy County Board of Commissioners voted to approve the purchase of about 19.35359 acres near the county fairgrounds and authorized County Manager Mike Gallagher to handle the closing.
Cass Taylor explained the parcel includes building improvements and that county staff obtained an appraisal. The seller had listed the parcel for $2.9 million; the appraisal and negotiation brought the asking price down to $2,000,000, with the seller asking the county to pay closing costs of roughly $87,000. Commissioners discussed the value, the buildings on site and the property's utility for fair parking and other events.
A motion to purchase the property and to authorize Gallagher to sign closing documents passed on roll call. Commissioners noted the county had previously discussed the property and felt the purchase would allow near-term use for fairgrounds overflow parking and other county events.
The manager will proceed with closing logistics per the commission's authorization.
