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Committee reports Bailey property purchase on schedule after seller lowers price to $235,000
Summary
Chair Tom Kidder said the Bailey property sale is on schedule; the seller reduced the price from $265,000 to $235,000 and removed a $30,000 tax-deduction provision from the Purchase and Sale agreement to simplify the transaction.
Tom Kidder reported that the Bailey property acquisition remains on schedule. He said the seller lowered the sale price from $265,000 to $235,000 and that a $30,000 tax-deduction provision has been removed from the Purchase and Sale agreement to simplify the transaction.
No closing date was announced at the June 1 meeting and the committee did not vote on the transaction; Tom presented the updated terms as information to the committee for ongoing oversight.
