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.