Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Acquisition topic
No spam. Unsubscribe anytime.
Council approves $3 million purchase of 195 DeCovin Drive using infrastructure bond in 8–3 vote
Summary
After a presentation, the council authorized the mayor to execute purchase-and-sale and leaseback agreements to acquire 195 DeCovin Drive using $3,000,000 from the 21st Century Infrastructure Bond. The resolution passed by roll call, 8 ayes to 3 nays with 1 absent.
The Middletown Common Council on July 1 voted 8–3 (with one absent) to authorize the mayor to execute purchase-and-sale and leaseback agreements to acquire the property at 195 DeCovin Drive using $3,000,000 from the 21st Century Infrastructure Bond.
Councilman Vincent Lofredo (mover) presented the resolution and said the acquisition and related documents (purchase-and-sale, escrow and leaseback) were negotiated with ATD Realty LLC and would use bond funds. After limited discussion, the council proceeded to a roll-call vote. The presiding officer recorded 8 ayes and 3 nays; the president then announced the motion carries.
Councilwoman Spitola and two other members voted nay; the record in the meeting shows three nays in total and one absent. No amendments to the resolution were recorded at the meeting.
What happens next: The mayor is authorized to execute the agreements subject to approval as to form by the office of general counsel and the administration will proceed with the acquisition steps outlined in the resolution.
