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Commission extends Old Walmart sale contract to Jan. 30, 2025, requires $10,000 additional earnest money
Summary
The commission approved an extension of the contract for sale of the county-owned Old Walmart property to Jan. 30, 2025, and approved an amendment requiring an additional $10,000 in earnest money from the buyer, NR Plan Properties/Cocca Acquisitions.
Benton County commissioners voted to extend the contract for sale of county-owned property at 190 Highway 641 N (referred to in the minutes as the “Old Walmart Building”) until Jan. 30, 2025, and to require the buyer to post an additional $10,000 in earnest money.
Mayor Mark Ward introduced Resolution 20241021-14 seeking authority to extend the existing contract to allow the purchaser, NR Plan Properties/Cocca Acquisitions, additional time to finalize financing and closing arrangements. An amendment from the budget committee added a stipulation that the purchaser pay an additional $10,000 in earnest money. Commissioners approved the amended resolution on a 12 Aye, 0 No, 6 Absent roll-call vote (motion moved and seconded by Commissioner Arnold and Commissioner Melton during the meeting).
The minutes do not record the contract’s original closing date, the total purchase price, or further terms beyond the additional earnest-money requirement and the extended contract date. The extension authorizes the county mayor to execute the contract extension on behalf of Benton County.
