4 ms·
As long as they're paying more than the investors offered, it seems fine. Article makes it unclear how the price they paid compares to what the sell price would
by ikeboy 9y ago
As long as they're paying more than the investors offered, it seems fine. Article makes it unclear how the price they paid compares to what the sell price would have been.
- em3rgent0rdr 9y agoWell it may seem fine, however considering that taxes are funding the city's purchases, then it is a bit unfair to the other bidders who are therefore at a disadvantage.
- matt4077 9y agoThey get right-of-last-refusal on any offer. Meaning they pay whatever the investor was offering.
- ikeboy 9y agoDoes the investor have a right to bid higher in that case?
- detaro 9y agoIf I understand it correctly, the district takes over at the price the investor signed a contract for. So no, they can't outbid the district afterwards, they only can put a higher bid initially, which they'll have to pay if the district doesn't make use of their interception right.