MILTON, Ga. — Milton City Council is approaching a decision that could commit the city to buying the former Verizon office campus in South Deerfield for $26.25 million.
At its Monday, Nov. 16 meeting, the council will consider authorizing City Manager Steven Krokoff to move ahead with the purchase once final reviews are satisfactory and the money is confirmed. The city’s 60-day inspection period expires Thursday, Nov. 20, and the proposed closing is expected by Dec. 1.
Milton has been studying the 51.32-acre property at One, Two and Three Verizon Place since approving a purchase agreement in September. The decision now is whether to waive its right to withdraw from that agreement, not whether to approve a park or redevelopment plan.
What the vote would commit
The city has already paid a $100,000 deposit. Moving forward would generally make that payment nonrefundable and require another $500,000 deposit. The remaining $25.65 million would be due at closing, before adjustments and closing costs. The deal is not contingent on financing…