PLATTSMOUTH – Plattsmouth Board of Education members approved a written agreement Monday night that would give the City of Plattsmouth the option to purchase Old Blue Devil Stadium.
Board members spent 45 minutes in executive session during their workshop discussing real estate issues. They then voted 7-0 in their regular meeting to approve the agreement with the city. Mike Brodersen, Mary Caverzagie, Tony Foster, Don Freeburg, Shane Jensen, Cory Wehrbein and Ken Winters gave unanimous consent for the measure. There was no discussion about the motion in the public meeting.
The memorandum of option agreement states the city will have an option to purchase Old Blue Devil Stadium for $195,000. The city would be able to activate the option by sending the school district an option payment of $20,000 before May 31, 2019. The city would have the right to extend the option agreement after that date for an additional $10,000. The extension would provide a new deadline of Dec. 31, 2019.
If the city decides to provide an option payment to the school, the school would be contractually bound to not sell Old Blue Devil Stadium to any other person or entity during the option payment period.
The agreement states the city shall have the right to conduct any tests, inspections, reviews, assessments or evaluations of the Old Blue Devil Stadium property to determine whether the property is suitable for purchase. This would include engineering, topographic, soils, zoning, wetlands and environmental inspections. The school would allow the city “reasonable access to the property” for this work.
If the city decides to purchase the property for $195,000, it would receive a credit against that purchase price in an amount equal to the option payment ($20,000) and, if applicable, the extension payment ($10,000). The purchase price would be paid at closing in either cash or by wire transfer of immediately available funds in accordance with the school district’s instructions.
If a purchase takes place, the school would pay any real estate transfer or documentary taxes related to the sale at the time of closing. The city would pay the costs of the owner’s title insurance policy and any endorsements at the time of closing.
Old Blue Devil Stadium is near the downtown portion of Plattsmouth. The property sits across the street from the Plattsmouth Post Office on Washington Avenue. North 10th Street runs along its western edge and the Cassco Arms residential building sits to its east.