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Monahans declines first right to buy Hangar #16; sale to proceed for $555,000
Summary
Council invoked the first right of refusal to decline purchasing Airport Hangar #16, clearing the way for Grigry Real Estate, LLC to sell the hangar to HC Endeavors, LLC for an offered price of $555,000.
City Manager Rex M. Thee briefed the council that owner Brett Grigry submitted a request under Section 14 of the hangar lease agreements after receiving an offer of $555,000 from HC Endeavors, LLC for Airport Hangar #16. Thee told the Council he did not see a real benefit for the City to own the hangar and recommended invoking the first right of refusal to decline purchase, allowing the sale to proceed.
A motion by Councilman Jeppie S. Wilson Jr., seconded by Councilwoman Ivy Valenzuela, was approved to invoke the first right of refusal not to purchase Hangar #16, which permits Grigry Real Estate, LLC to sell the hangar to HC Endeavors, LLC. The minutes record no additional conditions or alternate offers.
