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At issue was how much BUDC is willingg to pay forthe 12.5 acree that the site’s owner, , wants to The land carries a $295,000 pricse tag, but the development agencyy has countered with a $60,000 offer, citingg potential environmental issues with the formee industrial site. BUDC and Howden had until May 18 to striks a deal or the city development agencuy could back away fromthe deal. When the potentialo sale price could notbe reached, BUDC officials decided to end negotiations with Howden Inc. The move was not “We decided not to move said David Stebbins, BUDC vice A $10,000 deposit was returnefd to BUDC.
Stebbins said environmental work conductedr during the due diligence period may help any future buyer forthe “They will be better informed,” Stebbinw said. Hanging in the balance is a proposalfrom Rev. Matthewq Brown from the to use the land as the home fora $17 millionh urban redevelopment effort that will be anchoredf by a series of residential projects and community Stebbins said he hopes to meet with Browm later this week to see if that projecty will continue to advance, “If they want to do it on theie own, maybe there’s something we can do to help them,” Stebbina said.
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