Port, Google continue talks over land deal
Directors accept
change to boost
size of parcel
By KATHY GRAY
of The Chronicle
Yet
another delay has arisen in completing a land sale destined for
development on behalf of Google — and more delays aren’t out of the
question.
But this
time the corporation bargaining on behalf of the Internet giant is
putting up more money to show its good faith and continued interest in
the project.
In a
special meeting Wednesday night, the Port of The Dalles board of
commissioners unanimously approved a second amendment to the purchase
and sale agreement between the port and Design LLC, the Delaware
limited liability company that is negotiating the deal on Google’s
behalf.
The
amendment adds three more acres on the west side of Columbia Drive to
the original Feb. 16 purchase agreement, increases the purchase price
and requires additional deposits and earnest money from the purchaser,
and delays finalization of the agreement for a further inspection
period.
Changes bring the total land purchase to 33.74 acres of the Chenoweth Creek Industrial Subdivision and increase the purchase price to just under $1.914 million from $1.87 million.
Design
LLC has options on an additional 81.81 total acres in the North
Chenoweth area formerly leased by Mt. Fir Chip Mill, and rights of
first refusal on any other unsold land on which agreements are not
pending.
In
consideration for the changes and delays, the company has agreed to pay
an additional $500,000 in earnest money and partial payment on the
property.
Under the
amendment terms, $50,000 will be released to the port on execution of
the amendment as a nonrefundable deposit, which will apply toward the
purchase price.
In
exchange, the port as seller will deliver a revised survey, including
the property addition, a revised title insurance report, proof that the
land has been established as a legal parcel and a variety of property
documents for inspection.
Once those items are delivered, Design LLC has a 20-day inspection period before making a final decision.
Other,
unrelated conditions must also be met for the sale to take place,
including installation of a fiberoptic ring to serve the property, the
availability of a power tap from Bonneville Power Administration by a
date acceptable to the buyer, and approval of 15-year enterprise zone
tax exemptions.
Enterprise
zone tax exemptions were approved by the city of The Dalles and Wasco
County in April, but discussions on state provisions, specifically an
excise tax credit, are under discussion with the governor’s office.
The
new amendment also includes provisions allowing Design LLC three more
30-day inspection period extensions at the buyer’s sole discretion. In
exchange, Design LLC agrees to pay a nonrefundable $25,000 deposit each
time an extension is granted.
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