Consider Offer to Purchase Land - Sunwood Drive/Armstrong (Portions may be closed to the public)

The HRA has previously contemplated the sale of property in the Sunwood Retail area to M&W Holding, LLC - the owners of Wiser Choice Liquors.

This transaction is part of the City Council's purchase of M&W's current parcel located on the west side of Armstrong in anticipation of the new Armstrong interchange.

The development team has completed the layout of this area, now has LOI's for all three parcels, and have been able to work through the detailed easement, covenants, and restrictions necessary to execute a Purchase Agreement.

 

The Development team will send a detailed summary to the HRA via separate email prior to the meeting.

The development team recommends the HRA approve the proposed purchase agreement, and direct the city attorney to make final revisions as necessary, and execute all documents related to the transaction necessary to close.

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Approve the proposed purchase agreement, and direct the city attorney to make final revisions as necessary, and execute all documents related to the transaction necessary to close.