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Purchase of Port marina lot expected this week PDF Print E-mail
Daily News
Thursday, 03 August 2017 16:18

Developer to pay $140,000 for future site of townhouses

   Architect Stephen Perry Smith is expected to purchase the car-trailer parking lot at the east end of Washington Street by the end of this week.
    Aldermen on Tuesday formally extended the deadline to complete the sale of the city-owned parking lot to Thursday, Aug. 3 — the second time in the last month the closing date was changed.
    That’s because the city was waiting for a letter from the Department of Natural Resources approving its soil maintenance plan for the property, something it originally expected early this month but did not receive until Monday, City Attorney Eric Eberhardt said.
    “Unfortunately, we didn’t have that letter on July 24, when this sale was to close,” Eberhardt said, adding,”Everything else is in order.”
    Smith plans to build 11 condominiums in three townhouse buildings on the lot, which he will purchase for $140,000.
    The city is expected to relocate sewer mains on the property this month — something officials agreed to do as part of the sale.
    According to an agreement with the city, Smith, who is not seeking development incentives from the city for his project, must begin substantial construction of his project within six months or the city can buy the land back. Daily Press