Redevelopment commission extends option for Westcott‑area parcel for two years
The commission approved a two‑year extension of an option on a parcel east of Westcott, with terms to be prorated; members discussed option versus right of first refusal and the control implications of an option agreement.
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A developer asked the Greene County Redevelopment Commission to extend an existing option on a parcel east of Westcott. Commissioners discussed the difference between an option — which typically takes a property off the market for the option period — and a right of first refusal, which allows continued marketing but gives the holder the opportunity to match a third‑party offer.
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