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Waterville council authorizes contract-for-deed filing ahead of Oct. 1 closing
Summary
The Waterville City Council voted 4-0 to pass Resolution 2025R-026, authorizing a contract-for-deed and publication necessary to advance the city's purchase of the Village property; closing is scheduled for Oct. 1, 2025, the city attorney said.
The Waterville City Council on Sept. 11 approved Resolution 2025R-026, authorizing a contract-for-deed and the required publication to move forward with the city's planned purchase of the Village property. "The closing is coming up on October 1, 2025," City Attorney Jason Moran said, describing the transaction as structured in two parts on the recommendation of bond counsel.
Moran told the council the approach allows the city to pursue the purchase in the manner suggested by bond counsel and that the publication is part of the required process. Council member Dave Wollin moved approval; Scott Potter seconded and the motion carried 4-0. The council also discussed adjacent issues including rental costs, repair estimates on the current city hall building and contingency scenarios if another buyer acquired the Village prior to closing.
