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Newaygo council approves $1.6 million purchase package for 214‑acre Muskegon River property
Summary
The Newaygo City Council voted unanimously of members present to approve purchase and due‑diligence steps for a roughly 214‑acre Muskegon River parcel for $1.6 million, authorizing earnest money, environmental reviews, an ALTA survey and bond/financial advisor engagements.
The Newaygo City Council on Oct. 13 approved a package of actions to acquire the Muskegon River Holding (MRH) property, a parcel the minutes identify as approximately 214 acres, for a purchase price of $1,600,000.
City Manager Schneider explained the council approved the purchase agreement and related addendum and authorized payment of $25,000 in earnest money to secure the transaction. The council also approved engaging bond counsel (estimated cost $18,750) and a financial advisor (estimated $16,000) to assist with issuing bonds to finance the purchase. As part of due diligence the council approved two environmental review proposals from Lakeshore Environmental LLC — a Baseline Environmental Site Assessment for $2,750 and a Phase I Environmental Site Assessment for $3,355 — and an ALTA survey by Nederveld Engineering for $11,245. Schneider said the city would have up to 180 days to close on the property.
The council authorized the mayor, city clerk or city manager to sign and approve all documents related to financing, due diligence and the purchase. Council also approved Resolution 2025‑25 to amend the city budget to cover due‑diligence and financing work related to the purchase.
The motion carried on a roll‑call vote: Yeas — Black, DeVries, Engemann, Fedell, Walerczyk, Walker; Nays — none; Absent — Burns. The meeting minutes note the land was displayed and described as intended for future development discussed previously in closed session.
Schneider said the city is considering distributing TIFA funds annually to the general fund to cover future debt payments related to the purchase and noted staff would proceed with the process so it can be completed before the current timeline expires. He also said the city will perform the environmental reviews and survey as part of routine due diligence before closing.
What happens next: staff will proceed with the contracted due‑diligence work and with bond counsel/financial advisor engagement; the city has an estimated 180‑day period to close. Final financing structure and a formal closing date were not specified in the minutes.
