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Council approves sale of city property to PharmaScripts with added deadlines for due diligence and project schedule
Summary
After extended questioning about financing and construction timelines, councilmembers approved an ordinance authorizing a purchase-and-sale agreement with PharmaScripts, Illinois, Incorporated, adding a 30-day due-diligence window and a requirement that the buyer submit a project schedule within 30 days of execution.
The Blue Island City Council on Feb. 10 voted to approve an ordinance authorizing a purchase-and-sale agreement between the city and PharmaScripts, Illinois, Incorporated, for a city-owned parcel (discussed in the meeting as a $1 sale). Council scrutiny focused on proof of financing, required documentation, and project timing.
City staff and the city attorney told aldermen the agreement, as amended, adds a defined 30-day due-diligence period and requires PharmaScripts to provide a…
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