Media Boro Council to Make Decision on Sale of 1 W. State St. (Brodeur's)

It's been announced that a decision of sale will be made on 1 W. State St. Thursday, July 8th at the Borough Council Workshop meeting.  We'll forward the time and location once it's officially posted by the borough.

As a candiate for borough council, I've talked to residents and businesses this week who like the idea of restoring the building proposed by the lower bid,  but feel the higher bid which will allow for a restaurant is the correct decision.  I agree, not only because it's a higher bid, but it will add to the vibrancy of the location, while retaining the character of the building.

In addition, the lower bid presented by Bluestone Development will be dependent on grants for financing, thus creating a potentially risky situation for the borough. 

Tedman

• PUBLIC ANNOUNCEMENTPursuant to 73 P.S. § 1641, the Borough Council of the Borough of Media announces its intent to sell the real property known as 1 W. State Street to Claudio Sandolo or his nominee for a purchase price of $670,000.00.
  Other terms and conditions of the sale include:
  · The property will be sold using the Pennsylvania Association of Realtors standard Agreement for the Sale of Commercial Real Estate with an Addendum.
  · The Buyer shall make a deposit in the amount of $25,000 on the date of signing the Agreement of Sale and an additional deposit in the amount of $25,000 within 10 days following signing.
  · The Agreement of Sale contains a financing contingency.
  · The Agreement of Sale contains a zoning contingency for Buyer to obtain written zoning approval for Buyer's intended use of the Property.
  · The sale shall be conditioned upon Buyer signing and recording a perpetual Façade Preservation and Conservation Easement that will be binding on the Property.
  · The Agreement of Sale contains a 10-day Due Diligence Period contingency.
  
• PUBLIC ANNOUNCEMENTPursuant to 73 P.S. § 1641, the Borough Council of the Borough of Media announces its intent to sell the real property known as 1 W. State Street to Bluestone Development and/or Christian Christensen or his nominee, assignee or an entity created by him for purposes of taking title to the property for a purchase price of $650,000.
  Other terms and conditions of the sale include:
  · The property will be sold using the Pennsylvania Association of Realtors standard Agreement for the Sale of Commercial Real Estate with an Addendum.
  · The Buyer shall make a deposit in the amount of $10,000 on the date of signing the Agreement of Sale and an additional deposit in the amount of $20,000 within 90 days following signing.
  · The Agreement of Sale contains no financing contingency.
  · The Agreement of Sale contains a zoning contingency for Buyer to obtain written zoning approval for Buyer's intended use of the Property.
  · The sale shall be conditioned upon Buyer signing and recording a perpetual Façade Preservation and Conservation Easement that will be binding on the Property.
  · The Agreement of Sale contains a 90-day Due Diligence Period contingency.
  Anyone wanting to provide public comment on this matter should e-mail Jeffrey Smith, Borough Manager, at jasmith@dca.net. Borough Council will also take public comment during their Workshop meeting on Thursday, April 7, 2011 and their Council meeting on Thursday, April 21, 2011.