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Lake Forest council authorizes due diligence, assessments for purchase of 1925 Field Court as preferred police facility
Summary
The City Council authorized staff to pursue purchase of 1925 Field Court for $3.5 million and awarded contracts for a building/site assessment and a space-needs study, triggering a 90-day due-diligence period and a $100,000 earnest-money deposit.
Lake Forest officials on April 15 authorized staff to move forward with due diligence on 1925 Field Court as the city's preferred site for a new police facility and approved contracts to evaluate the building and estimate repurposing costs.
In a single motion the council approved a purchase-and-sale agreement with DP Westlake at Conway for $3,500,000, authorizing a $100,000 earnest-money deposit and a 90-day inspection period with an option to extend for 30 days. City Manager Jason Wisham told the council the staff recommendation was to use FY2024 general fund surplus to fund acquisition so the purchase would not require borrowing or drawing down existing…
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