Laserfiche WebLink
participate, and their portion of the taxes would supplement the development fund income. If they don't, <br /> the full market value of the property will not be collected. <br /> Sportech, Inc. proposes closing by August 31, 2015, though this date may change through mutual <br /> agreement. The contingency date is July 31, 2015. Contingencies include: Environmental testing, land <br /> use approvals (rezoning, lot combination, easement vacation, site plan approval, tax abatement), and clean <br /> title. <br /> Analysis <br /> The agreement proposes the sale at the appraised value, paid by property tax abatement. The use of the <br /> property is consistent with the strategic plan of the EDA, and generally the Comprehensive Plan, though <br /> a rezoning will be necessary. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ Purchase agreement (to be distributed at the meeting) <br />