Roanoke Rapids City Council received a closed-session briefing on the progress being made to strike a final contract with the potential buyers of the theater.
City Manager Joseph Scherer confirmed this evening no action was taken following the briefing.
Earlier today Scherer said, referring to Tom and Evon McClean, who are in a due diligence period before buying the venue, “I believe they are pleased with everything they’ve looked at so far.”
Referring to City Attorney Gilbert Chichester, the city manager said, “Mr. Chichester has been in contact with their lawyers to finalize terms of their contract.”
Before going into closed session, Chichester said, “It’s been going well. Everything is on track. The due diligence has presented no obstacles. A closing date should be set in the near future.”
That period has allowed the McCleans to review documents, inspection reports, the building and its systems before signing.
In November, city council unanimously adopted a resolution which approved the final bid offer of the McCleans to buy the theater for $3 million. They have already made a $150,000 down payment. There were no upset bids.
Part of the resolution approved said, “Roanoke Rapids City Council deems it advisable and in the best interest of the city to sell its interest in the subject property to the successful bidder and convey its interest in said property by special warranty deed.”