CLEARFIELD – The Clearfield County Commissioners have accepted the executed sales agreement for the sale of the Multi-Service Center to Jeff Long of Graystone Court for $350,000.
Long signed and executed the sales agreement that was received by Solicitor Kim Kesner on Friday with his down payment of $25,000. The commissioners voted unanimously, 3-0, to accept the sales agreement at Tuesday’s regular meeting.
The commissioners had previously approved the original sales agreement for the sale of the Multi-Service Center to Long in May for $350,000, the lower amount of two appraisals received by the county for the building.
Long currently plans to convert the building into a senior housing complex that would be comparable to Graystone Court. However, if he determines that it’s not feasible, he plans to demolish the existing building and construct a new one.
Last month, Kesner said he developed the sales agreement based upon his “informal discussions” with Long and his legal counsel as well as the board of commissioners. The agreement was unanimously approved, 3-0, by the commissioners then but didn’t become effective until its recent acceptance by Long and the commissioners.
Earlier this month, Kesner said a revised sales agreement included two provisions that ensure the perpetual care of the Zenas Leonard historic marker and the time capsule, which were placed there in 2005 and 2003, respectively. Neither will be disturbed by Long’s construction plans.
Secondly, the sales agreement was revised so that Long’s payment wouldn’t commence until Jan. 1 of the first calendar year of its occupation agreement. The provision made the terms and conditions of the sales agreement more “fair,” while Long may not be able to complete his plans by the start of 2012, or the original payment start date, Kesner said.
According to prior GantDaily reports, a mortgage of $300,000 at 5 percent interest per year would be recorded at the time of closing. Long would make 10 annual payments in the amount of $38,851.37. There wouldn’t be a prepayment penalty.
With the sales agreement now in effect, Long would pay an additional $25,000 at closing. If he’s unable to renovate or construct a new building, the agreement allows him to convey the property back to the county and recover his $50,000 down payment, Kesner said.
However, Long would be responsible for returning the Leonard Street property within 60 days of their final sales agreement and in the same condition as conveyed to him without any liens or the county would retain payment for any damages.
Long would be required to conduct inspections and studies within 30 days of signing the sales agreement to determine if any environmental issues, such as asbestos, lead paint or buried fuel tanks, exist at the Multi-Service Center property. If any would be found by Long, he must either accept as is, or withdraw from the contract.
The commissioners also required the property to obey the same covenants as the Professional Office Park but allowed for an exception to the height restriction as the planned eight-story structure would surpass the same.
In Long’s proposal, he and the commissioners acknowledged the existing building extends beyond the township’s setback lines. If the construction of any new building would also infringe upon these setback lines, it would require approval from the Lawrence Township Supervisors before closing.
Kesner indicated that he permitted a 180-day period for the approval to be given. If not completed within the timeframe, either side would then be able to back out of the agreement.
The county had been attempting to sell the Multi-Service Center since last summer. It had received two appraisals for the building, indicating it was worth $780,000 and $350,000.
Their lone proposal has come from Long, who initially sought the building for $126,000. He submitted his newest proposal to the commissioners April 25.