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Showing posts with label Eisenhower Development Group. Show all posts
Showing posts with label Eisenhower Development Group. Show all posts

Wednesday, August 9, 2023

Has the New Auction for OLF 8 Begun?

As I had anticipated would be the case--the BCC has now received a fresh offer for all 540 acres of OLF 8 for the tidy sum of $40 Million Dollars. (and I anticipate several more in the coming weeks)

In this particular, very bare bones, three page offer (see it below)--no mention of the DPZ Master Plan--but multiple requests for full cooperation in rezoning the property, achieving preliminary site plan approvals, and amending the comprehensive plan.  So there is that.

-120 day inspection period requested

-total of $1 Million in earnest money, with an additional $100,000 that goes hard after several steps are taken and after the inspection period.

-Three (3) 30-day extensions requested.

I see some issues with the offer, chief among them is the guidance that the BCC already gave signalling that we will reserve 250 acres for job creation--so I would expect that this offer will have to be re-tooled.

Some of the speakers at recent meeting should be ecstatic.  It is someone other than DR Horton.....

We will see what the full board chooses to do with this offer--as this decision is up to the full 5-member board.