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Mount Clemens approves $25,000 to terminate Park Place Towers option agreement
Summary
After executive-session consideration, the commission accepted a $25,000 offer to release a long-standing city option on land adjacent to Park Place Towers and authorized city officials to execute the agreement.
Following an executive-session briefing, the Mount Clemens City Commission approved terminating an option agreement between the city and Park Place Towers Associates Limited Dividend Housing Association Limited Partnership and accepted the partnership's offer of $25,000 to release the option.
City staff recounted the option, in place since 2002, covered a vacant parcel adjacent to Park Place Towers and had given the city a $1 purchase option. The partnership asked the city to release that option and offered $25,000 in return. City attorneys and staff recommended accepting the offer; the commission voted to approve the termination, accept the payment and authorize the mayor and city clerk to execute the documents.
A roll-call recorded 'yes' votes from Cropp, Menser, Campbell, Ford and Hill for the action. The commission noted the authorization to execute the agreement following the vote.
