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Jury accepts offer of right of first refusal on industrial property in Grand Cane
Summary
The DeSoto Parish Police Jury authorized accepting a standalone right of first refusal offered by purchasers of 132 West Industrial Drive, with terms tied to fair market value at the time of any future sale.
The DeSoto Parish Police Jury voted to accept an offer granting the parish a standalone right of first refusal on 132 West Industrial Drive in Grand Cane, a property recently purchased by TC Properties of Arcadia LLC.
County counsel reviewed the deed history, explaining that the original parcel conveyance to 5 b Ventures had not preserved a continuing right of first refusal. Under the new offer, the purchasers would grant the jury a right of first refusal at the fair market value at the time of any future sale rather than the historical per‑acre price written in the 20‑year‑old deed.
Jurors discussed the legal background and previous missed opportunities; counsel advised caution about relying on an expired or unenforceable right but described the proposed standalone right as commercially acceptable. After discussion, the motion to accept the offer and authorize the president to sign the proposed right of first refusal passed (motion passed in the transcript).
Next steps: The president was authorized to execute the document as presented; no purchase occurred at this meeting.
