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Council rejects downtown purchase; directs manager to end due-diligence period
Summary
A proposed $2.6 million purchase and net-lease agreement for 406 Washington Ave failed after council debate over cost, environmental risk, and public benefit; council later voted to direct the city manager to terminate the due-diligence period for the acquisition.
Council members voted down a proposed purchase-and-financing arrangement for 406 Washington Avenue (a CRA-sponsored downtown acquisition) after extended debate on Feb. 18.
Public commenter Diego Rivaleneta, a retired real-estate professional, questioned the structure and price, asking, "Is this the highest and best use of $2,600,000 of taxpayer money at this…
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