While the City originally offered a lease-to-own deal with the company, the offer from Wabash that the City Council looked at last Tuesday evening was for a five-year lease with the option to own, said Cadiz City Attorney Allen Wilson. He said that means that Wabash isn’t required to purchase the building at the end of the period.
Cadiz City Clerk Lisa Rogers said that if the City agreed to the Wabash’s proposal, dated Aug. 27, they would still owe $45,418 on the building. The City’s original proposal asks for a total of $660,000; Wabash’s Aug. 27 proposal offers $560,000.
“I don’t think it’s going to be a problem,” said Cadiz Mayor Lyn Bailey. “We’re going to get our money.”
Cadiz City Council Member Susan Bryant said she didn’t want to vote on it until she saw what Wabash’s final offer was. Rogers said she thought Wabash wanted them to offer what they would do.
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