City of Lebanon Ionwave #ND-99-261013-W-1030 Addendum 1

City of Lebanon sale of an approximately half-acre city-owned parcel

The City of Lebanon, Missouri, is offering a city-owned parcel for sale through a competitive bid process. - Government buyer: City of Lebanon, Missouri; local government in Laclede County. - Property offered: Approximately half an acre at Main and Catherine in Lebanon, zoned RS-2. Potential uses include a multifamily apartment building, a duplex, or up to two single-family homes. - Bid evaluation: The City will consider the purchase price, the bidder’s financial ability, and the proposed use, and may select the offer it determines is in the City’s best interest. The minimum offer is $100, except for transfers to eligible government or nonprofit agencies. - Sale conditions: The parcel is sold as-is, without City guarantees regarding environmental conditions or title issues. The successful buyer is responsible for any necessary survey and title work and must provide earnest money equal to 5% of the purchase price or $100, whichever is greater. - Completion and development requirements: The transaction must be completed within 90 days after acceptance and is subject to City Council approval. A recapture agreement may return the property to the City at no cost if the proposed development does not occur within five years of transfer. - Named vendor: Ion Wave Technologies is identified as the electronic bidding platform provider; no property-development vendors or manufacturers are named. - Items requested: No manufactured products or services are being purchased; the opportunity is for the sale of the parcel.

Description

The City of Lebanon, Missouri is soliciting bids for the sale of a City-owned parcel at Main and Catherine in Lebanon, Missouri. The approximately half-acre parcel is zoned RS-2, and the stated potential uses include a multifamily apartment building, duplex, or up to two single-family homes. The property is sold as-is, and the minimum bid is $100 unless transferred to an eligible governmental or nonprofit agency. Proposals will be evaluated based on factors including purchase price, financial ability, and proposed use; bids are submitted electronically through Ion Wave Technologies.

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