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The Town of La Conner signed papers to sell the Hedlins Ballfield property for $800,000 on March 2 and will gross perhaps $20,000 on its purchase. It looks like the Town did not spend taxpayers dollars to buy the property. Mayor Ramon Hayes signed a purchase and sale agreement without the Town apparently ever owning the acreage. The agreement with the buyer, represented by Mountain Pacific Bank loan officer Frank Jeretzky, was “contingent on Seller’s exercise of its Purchase Option of the Property.” Papers are in the March 9 Town Council packet and were approved by Council that evening.
The Town signed an agreement to sell before exercising its “Purchase Option of the Property” to buy. The wisest use of taxpayers dollars is not to spend them at all. This month La Conner’s government appears to have done just that.
The first Town cost was 2020’s $37,000 purchase option to hold the property. The selling price was $662,000, with additional fees and closing costs of $23,858, That makes the total purchase price $722,858.
The Town estimates $56,340 in selling costs, with $40,000 to Dick Nord, the listing agent. The Town’s total cost to buy and sell the Hedlins property is $779,198. All figures were provided by Town Administrator Scott Thomas.
Landed Gentry Homes, represented by Mountain Bank, will pay $800,000 with plans to build 10 single family homes.
La Conner grosses $20,802, not counting, Thomas wrote in an email, $10,000 in staff time in the last year. Taking staff costs into account, the Town’s net profit will be some $10,000.
The Town sold 70% of the almost two acre Maple Avenue parcel, keeping 24,000 square feet for a new park, a key part of the deal. The value of that piece, at the northwest corner at Talbott has not been calculated. Its worth: priceless.
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