Lindsay, McDermont negotiate property purchase with current lease ending
Tanner said the city is currently negotiating in good faith with MVI, but there are still some formalities before they get the ball rolling. According to Tanner, MVI hasn’t submitted an offer letter to buy the property yet, but the city has already appraised the property based on 2018 property values. Whether MVI has arranged financing yet is unclear.
Good faith negotiations notwithstanding, the city is preparing for the possibility that a purchase agreement or an extended lease might fall through. In that case Tanner said the city is not in a position to reassume the massive recreation center.
“It would be extremely difficult to take that back over,” Tanner said. “I know we are in a better position financially, without the numbers in front of me, I can say it would be very expensive.”