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Commission approves Moxy Holdings purchase agreement after heated debate over terms and timeline
Summary
The Boyne City Commission approved a revised purchase agreement with Moxy Holdings LLC to advance a multi-building housing project, after members debated changes to financing, phasing and due‑diligence deadlines and heard public requests to secure park access through the site.
The Boyne City Commission voted to approve a revised purchase agreement with Moxy Holdings LLC, advancing a planned multi-building housing project that commissioners said is needed to add workforce housing stock.
Supporters said the agreement reflects changed financing realities and provides a path to build housing the city needs. Commissioner (supporter) said the company has built successful housing projects in Michigan and that moving forward is important to address an acute housing shortage. "We need housing yesterday and we need to get working on a project," one supporter said.
Opponents cautioned that the new agreement differs materially from the version the commission considered a year ago and said the current terms broaden developer discretion, extend multiple due-diligence windows and offer limited earnest money. Commissioner Richard said he could not support proceeding without a more detailed master agreement specifying requirements for affordability mix, maintenance staffing and residency provisions. "I do not support proceeding with this agreement without going back to the marketplace," he said.
Pete Friedrich, chair of Parks and Recreation, asked commissioners to ensure the purchase agreement preserves written access from the Moxy parcel to city parkland and a nearby slope and waterfalls so future trail and park development is not constrained. Supporters said staff had added deadline language requiring agreement on key terms by May 1 to keep the project on schedule.
After further discussion about AMI targets, phasing and contractual protections, the commission approved the motion to authorize the city manager and clerk/treasurer to execute the necessary documents. A roll-call vote was recorded and the motion carried.
The vote authorizes staff to finalize the negotiated terms and proceed with the next contract steps; the commission will review subsequent contracts and permits as the project advances. The commission also asked staff to monitor proposed incentives and ensure any master agreement language tied to access easements or deed restrictions is included in future approval documents.
