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Council approves refundable deposit for Truxtun Avenue deal amid fiscal concerns
Summary
Council approved a refundable earnest-money deposit tied to a potential purchase/lease of property at 1430–1440 Truxtun Avenue despite questions from members about timing and city finances; two council members voted no.
Bakersfield City Council approved March 25 a refundable deposit tied to a previously authorized purchase/lease for property at 1430 and 1440 Truxtun Avenue after brief debate about timing and municipal finances.
What happened: The matter (pulled from the consent calendar as item 7H3) had been previously authorized in principle; staff returned to the council to appropriate funds for a refundable earnest-money deposit that would secure the deal during a due-diligence period. City staff clarified the deposit is refundable if the city elects not to proceed.
Council concerns: Several…
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