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Rock Springs council approves sale of First Security Bank building to developer Kody Watts
Summary
After discussing potential conflicts and development plans, the council voted unanimously to move forward with a purchase offer from developer Kody Watts for 502 South Main (First Security Bank Building). Mayor Max Mickelson said Watts would not collect a commission and has development experience.
The Rock Springs City Council on Nov. 18 voted to proceed with a purchase offer from developer Kody Watts for the First Security Bank Building at 502 South Main.
Mayor Max Mickelson presented the Watts offer first, saying legal counsel determined Watts could represent himself in the transaction. Mickelson told councilors Watts provided a history of similar developments and would not collect an agent's commission because he would be representing himself.
Councilors asked questions about the business model and resources behind the proposal. Councilor Pedri asked for specifics on the planned uses; Mickelson described a plan that would include higher-density family housing and ground-floor retail and restaurant space. Councilor Milonas asked why the discussion was not held in executive session and requested documentation of presentations and meetings; Mayor Mickelson replied he would speak with Watts about disclosing that information.
After discussion, Councilor Zotti moved and Councilor Demas seconded a motion to move forward with Watts' offer; the motion carried unanimously.
The council record does not include a finalized purchase contract in the minutes; next steps listed in the meeting notes are to continue negotiations and finalize documentation in accordance with legal advice.
