City Council approves sale of Midtown Tower to Buckingham Properties for $2
Posted at: 07/16/2013 3:29 PM | Updated at: 07/16/2013 11:20 PM
Sold for $2. City Council approved the sale of Midtown Tower from the city to a developer for that price.
One group didn't feel the plan to do this was fair, so they came to City Council's meeting, offering to buy the building for $100,000. They even brought $10,000 with them, 10% of the offer.
Members of the group said the city was violating its own laws by doing this.
City Council told the group because Midtown Tower is an urban renewal district, this sale can happen. It approved the final sale to Buckingham Properties, which plans to renovate the building into rental units.