There is some huge news coming out of Two Rivers today, as the City Council has agreed on a deal on the sale of the former Paragon Partners property.
We spoke with City Manager Greg Buckley, who explained that the Council agreed on the terms of the purchase agreement submitted by AIM Manitowoc LLC.
Buckley explained that “This agreement provides for a $1.2 million purchase price for the property. It is something that will require some additional work as far as possible state grant assistance and TIF assistance.”
The agreement is not contingent on those forms of monetary assistance, but Buckley said the City does plan on making “reasonable efforts” to get them.
Buckley also explained that “The agreement does entail a $25,000 earnest money payment that should be forthcoming in the next five days. It has a 90-day time frame to work out any development agreements and to close.”
The Council also met with representatives from the Splash Pad/Ice Rink Committee, who made a recommendation on where they should place the facilities.
They looked at locations at Neshotah Beach, Washington Park, and Central Park West in front of the Community House, and were unanimous in their decision to put it in Central Park.
