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Council approves $42,500 purchase of 105 S. Olive Street; staff cited Phase I environmental reviews
Summary
Council approved buying 105 South Olive Street from Cornell Properties LLC for $42,500; staff said two Phase I environmental assessments are underway, with partial funding from EPA/ECIA grants, and that closing would follow satisfactory reviews.
The Maquoketa City Council approved a $42,500 purchase of 105 South Olive Street from Cornell Properties LLC. City staff said the acquisition includes a Phase I environmental assessment—two such assessments in this case—and that the EPA and ECIA are paying for portions of the review, which the city is using to protect future grant eligibility.
City Manager Josh Bolt told the council that, "assuming that there's no issues with those Phase Ones," staff would move toward closing; otherwise, the assessments could affect eligibility for future EPA grants. The resolution passed on a roll call vote with one no vote recorded.
