Council authorizes negotiating option for 25-acre Fox Ridge parcel after staff recommends offer
Summary
Council authorized staff to negotiate terms of an offer-to-purchase agreement on a roughly 25-acre parcel in Fox Ridge Business Park from BLD Acquisitions LLC (doing business as Bridal Building Corporation) at $35,001 per acre (approx. $856,380 total); the motion passed unanimously.
Community Development Director Stowes presented a continuing discussion about an offer to purchase approximately 25 acres on the south side of Fox Ridge Business Park from BLD Acquisitions LLC (doing business as Bridal Building Corporation). Staff described the proposed purchase price as about $35,001 per acre and $856,380 in total and recommended authorization to negotiate terms of an offer-to-purchase agreement.
Stowes said Bridal Building typically identifies a business prospect that meets zoning and restrictive covenant requirements, completes site planning and construction, and often sells or leases the developed parcel to the operating business. Council authorized staff to negotiate terms by unanimous vote (motion: Biber; second: Mayweather).
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