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CITY OF CENTERVILLE <br />REQUEST FOR ACTION <br />� ntervitte <br />Agenda Item # <br />Department: <br />Requested Meeting Date: <br />V.2 <br />EDA <br />August 18, 2022 <br />TITLE OF ISSUE: <br />Centra Homes <br />BACKGROUND AND SUPPLEMENTAL INFORMATION: <br />Centra Homes notified the city that due to deteriorating market conditions, they desired to terminate the <br />purchase agreement with the city for their 26 unit row -style townhome development. In exchange for <br />termination of the Purchase Agreement, Centra agreed to forfeit their earnest money backing the Purchase <br />Agreement and grant ownership of those monies to the city. At the August 10, 2022 city council meeting, <br />the board passed a resolution terminating the real estate purchase agreement with Centra Homes North, <br />LLC. <br />Administrator Statz has been in communication with another prospect for this property. Email <br />correspondence is attached for your review. <br />COST AND SOURCE(S) OF FUNDING: <br />No Cost <br />REQUESTED ACTION: <br />No action. Information only. <br />For Clerk's Use: <br />SUPPORTED DOCUMENTS ATTACHED <br />Motion By: <br />Resolution Ordinance Contract Minutes Plan Map <br />Second By: <br />Vote Record: Aye Nay <br />Heal <br />0 Vacancy <br />Other (specify) <br />King <br />email <br />0 Mosher <br />0 Remillard <br />Refer to: <br />Tabled Until: <br />Other: <br />Consent <br />Regular <br />