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Board extends inspection and contingency deadlines for sale of former highway shop to Northpointe
Summary
The Board adopted Resolution 2023-08 to modify contingency deadlines in the Northpointe purchase agreement—extending the dates for Housing Tax Credit approval and environmental/Phase I/II reports to July 1, 2023—while keeping the closing date unchanged.
Vernon County and buyer Northpointe Holdings II, LLC agreed to amend certain contingency deadlines in the purchase agreement for the former highway shop property (602 N. Main Street in Viroqua). Resolution 2023-08 modifies Addendum A so the buyer must waive the Housing Tax Credits contingency by July 1, 2023 and complete Phase I (and, if necessary, Phase II and geotechnical) environmental reports and deem them satisfactory by July 1, 2023, or the offer will become null and void.
Highway Commissioner Hewitt explained the change was intended to extend dates for environmental inspections and allow the buyer to obtain Brownfield funding, and noted it does not affect the scheduled closing date. The resolution was moved by Supervisor Mitchell, seconded by Supervisor Jacobson, and adopted on a voice vote.
The amendment leaves all other terms of the agreement in place and asks the seller to provide any prior environmental reports for the site or adjoining areas if applicable.
