ENM extends letter of understanding to February

The Elko New Market City Council recently approved an extension of a letter of understanding with Avant Private Communities. The agreement was to end on January 31, 2017, but the council decided at its Thursday, Dec. 15, meeting to extend the letter of understanding to February 28, 2017.

City staff began working with Avant Private Communities in November 2015. Originally the city and New Market Bank would be working with the company in selling and developing property in the southwest portion of the community. In January 2016, the city and Avant reached an agreement where Elko New Market would work solely with Avant on the sale of the property until April 29, 2016 in exchange for a $5,000 deposit. If a purchase contract was reached, the $5,000 would be applied towards the purchase price. If no contract was reached, the money would be retained by the city. That contract was extended for 30 days, but expired on May 29.

A new letter of understanding was approved by the council on July 28. That included performance benchmarks that Avant was to reach, with the contract to expire on November 30. The council approved an amendment to the agreement at its December 1 meeting, requiring only a concept plan review by the city’s Planning Commission today (January 5) and a review by the council.

Shortly after that, on December 9 the city was informed that Avant no longer had any relationship or contract on the New Market Bank property. Avant wanted to proceed with...

To see more on this story pick up the January 5, 2017 print edition of The New Prague Times. 

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