Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Land Use topic
No spam. Unsubscribe anytime.
Council approves sale of Visa Road parcel to Michigan Housing Partnership LLC for $87,500
Summary
Council voted to accept an $87,500 purchase offer and authorized the city manager to execute the agreement; the contract includes a $5,000 deposit, a six‑month inspection window with up to four three‑month extensions, and a recapture clause if no development occurs within three years.
Caro City Council voted to accept a purchase agreement for parcel number 0505002422000 with Michigan Housing Partnership LLC for a purchase price of $87,500 and authorized the city manager to sign the agreement.
According to staff, the buyer submitted the offer in response to an RFQ; the agreement retains the buyer’s offered purchase price and requires a $5,000 deposit. The contract gives the purchaser six months to inspect the property and pursue potential brownfield or TIF arrangements, with the buyer able to request up to four additional three‑month extensions (total possible inspection period of 18 months). The purchase agreement, as described in the meeting, does not obligate the city to approve any future TIF or site plan; if the development does not proceed within three years of closing the city may recapture the property with a refund of the purchase price.
The city manager summarized the negotiation history, described attorney revisions made to reflect council feedback, and presented options (authorize signing, ask staff to renegotiate, postpone or take no action). A council member asked why the contract allows multiple three‑month extensions; staff said the shorter extension periods preserve flexibility for both parties and allow time for engineering reviews and brownfield/TIF discussions rather than forcing an immediate decision. “The city is not expressly required to agree to any TIF or site plan per the purchase agreement,” the city manager said, noting the agreement preserves council review on development approvals.
The motion to accept the purchase agreement passed on a roll‑call vote (Kish, Body, Parker, Riley, White and Mayor Snider recorded yes). Council did not require immediate additional conditions beyond those negotiated in the packet.
What happens next: with council authorization the city manager will sign the purchase agreement and the buyer may proceed with inspections and any brownfield or redevelopment planning; council retains the right to review and approve later permits or TIF arrangements.
Clarifying details: purchase price as read in meeting: $87,500; deposit $5,000; inspection window six months plus up to four three‑month extensions (possible total 18 months); three‑year recapture clause if development does not proceed.
