As the two-week exclusive negotiating period on the OLF8 property comes to a close this week, developer Beulah Town Center LLC has submitted an improved purchase offer. The offer is for $22 million dollars for 290 acres, which equates to $75,862 per acre. The offer also includes a due diligence period of 6 months, a good-faith deposit of $500,000, and an area set aside to add tennis courts near Navy Federal Credit Union's outdoor park. On his blog, District 1 Commissioner Jeff Bergosh says the top-line price has to still be hashed out, as well as the escrow agreement and funding for the design and construction of the Boulevard entrance. The Escambia County Commissioners are slated to discuss the proposal at tomorrow's meeting.
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