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After a lengthy court process, Ocean City Council approved an additional $10 million bond and a settlement with a property owner for a former car dealership that had been slated for residential development. With interest, the total cost is now $20 million.
Ocean City Council on Thursday introduced a $9.99 million bond ordinance to finance the acquisition of a former car sales lot at 16th Street, close to doubling the amount the city will borrow for the property.
On Monday, Ocean City Council discussed a potential settlement with Klause Enterprises for a property on 16th Street that once housed a car dealership.
One of the owners of a former car dealership on Simpson Avenue that the city wants to take through eminent domain says a jury has set the price at close to $18 million, years after an agreement of sale for $9 million fell apart. The city isn’t saying much, other than that the matter is not yet over.
One of the owners of a former car dealership on Simpson Avenue that the city wants to take through eminent domain says a jury has set the price at close to $18 million, years after an agreement of sale for $9 million fell apart. The city isn’t saying much, other than that the matter is not yet over.