The Franklin Reporter & Advocate Eight Villages, One Community
The Township Council on July 14 approved the purchase of a 32-acre property on Cedar Grove Lane for about $5.46 million to preserve it as open space.
The 32.19-acre parcel at 287 Cedar Grove Lane is known as the Estate of Sudia Property. The Council introduced the measure June 23.
The total authorized amount, $5,460,000, includes a $5.2 million purchase price plus $260,000, or 5%, for due diligence costs, the ordinance states.
The money came from the Township’s Open Space Trust Fund.
Before the sale closes, the seller must demolish all structures on the property, remove a trash and debris pile, and dispose of a stored oil tank, according to the ordinance.
The seller must also verify that an underground storage tank it previously removed complies with state and local regulations; any further work needed to bring that removal into compliance would be the seller’s responsibility and expense, according to the ordinance.
The seller is required to turn over existing due diligence reports, including a Phase I Environmental Assessment and a property survey, before a contract of sale is signed, according to the ordinance. The Township reserves the right to commission its own environmental assessment and survey and will handle any remaining due diligence before closing.
