Light Capital Diamond sold to Central Christian College

By Chris Swick
August 24, 2015

The McPherson City Commission moved ahead with the sale of Light Capital Diamonds to Central Christian College Monday, approving an agreement with the college to take over ownership.

A proposed agreement to sell to Central was first presented in late June, but City Administrator Nick Gregory said there were a few hangups before they could finalize the deal.

“One of the hold-ups that we did have to do is, because there's a number of public utilities that go through the facility, we had to get a survey out there and have those public utilities removed from the survey of that,” Gregory said. “Also, as a result of the Avenue A project, we had to set aside some additional right-of-way for the project.”

Under the agreement, Central Christian will purchase Light Capital for $280,000, with a down payment of $70,000 due on Sept. 15. The college would then pay the remaining balance off in five annual payments starting on March 31, 2016.

The commission approved the agreement unanimously.