Source: WWAYtv3.com
10/29/12
The City of Wilmington apparently knows
which site it wants to build a ballpark if voters approve a bond
referendum. WWAY has obtained the latest draft copy of an option agreement for
the city to purchase land from Sawmill Point Investors, LLC, of
Charlotte. City spokeswoman Malissa Talbert says the agreement is still
in negotiation, but it calls for the city to pay Sawmill a one-dollar
option for the riverfront parcel between Cowan Street and the Isabel
Holmes Bridge.
Click here to see the draft option agreement
The deal as it stands now would have the city pay Sawmill $5.2
million for the land. The city has budgeted $6 million of the $37
million proposed bond for site acquisition. Sawmill bought the property
in late July for $3.6 million according to county tax records.
According to the agreement, Sawmill has already submitted a
Brownfields Application to the NC Department of Environment and Natural
Resources, and closing on the property will only happen after Sawmill
and DENR have a Brownfields Agreement in place, unless the city waives
that condition.
MORE
Focusing on challenges, stories, and issues important to the redevelopment of Brownfields in the South . http://www.southernbrownfield.com