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Last updated on Monday, January 16, 2017
(BLOOMINGTON) - An $800,000 offer from the City of Bloomington was accepted Thursday for the purchase of the property located at 1730 South Walnut St. near the site of the future Switchyard Park.
The agreement reached between the City and owners Larry and Cathy Holtz includes the stipulation that a Phase 2 environmental study must be conducted prior to final approval from the Bloomington Redevelopment Commission (RDC). The RDC has 30 days to confirm all conditions of the agreement. If all conditions are approved, and the results of the environmental study are acceptable to the City, the sale would be complete in approximately 90 days.
Current renter of the property; Rodney Domer, owner of Night Moves; retains legal right of first refusal. Domer has 15 business days to match or better the City's offer on the property.
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