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COLUMBIA CITY â€” Columbia Cityâ€™s Redevelopment Commission (RDC) decided to make an offer on the Eagles Lodge at the corner of Line and Van Buren Streets at Tuesdayâ€™s meeting.
After averaging two appraisals, the group decided to make an offer of $165,000 for the property, which is located at 306 W. Van Buren St., downtown.
â€śWeâ€™d really like to see that corner developed into something,â€ť said Kevin Snell, of the Columbia City RDC. â€śWe donâ€™t want to see it deteriorate.â€ť
One appraiser valued the property at $180,000, while another estimated it at $150,000. Per the commissionâ€™s statute, the offer had to be the average of the two appraisals â€” hence the $165,000.
The purchase is not a done deal, though, as officials from the Eaglesâ€™ said $170,000 was their bottom dollar.
Though some commission members were OK with the $170,000 pricetag, per the statute, the commission can only offer $165,000, according to Redevelopment Commission Attorney Greg Hockemeyer.
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