NEW OFFER RECEIVED FOR OLF 8 -- David Wayne
Escambia County, FL (Newsradio 92.3) -- It looks like there's a new offer on the table for the OLF 8 property in Beulah. Studio 850 has obtained a new offer letter which was addressed to Escambia County Commissioner Steven Barry.
Developer Beulah Town Center, LLC offered the county $20 million for 290 of the 500 acres of the property, with an option to purchase an additional 110 acres of land that the county will retain to develop a commerce and industrial park -- if it's not developed within four to six years.
The latest offer reduces the due diligence time from one year to 10 months, includes a $150,000 deposit, and removes parcel 3 from the purchase options. Those changes appear to have been made after discussions the developer had with county commissioners in recent weeks.
The Escambia County Board of Commissioners is set to meet next week, where they could discuss the offer.
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