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Board reviews statement of intent for Herrick Park; trustees advise due‑diligence and zoning checks
Summary
A developer (LEA Properties, Adrian) submitted a statement of intent to buy Herrick Park for $100,000 as‑is with broad opt‑out contingencies. The board advised requiring a nonrefundable down payment and that the buyer begin zoning approvals with the city before the district proceeds.
Superintendent Hilton told trustees the district received a statement of intent from LEA Properties (Adrian) proposing to buy Herrick Park for $100,000 in an as‑is sale. The offer included broad contingencies allowing the buyer to cancel if tax assessments, zoning approvals or unexpected costs made the project infeasible.
Hilto…
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