The City Council of Webster City agreed Monday to sell four lots to a developer at established 2017 land prices.
The agreement will allow Ridge Development LLC, which was registered in Cedar Rapids in 2018, to purchase lots in the Brewer Creek Estates 5th and 6th Additions. Ridge is a firm originally organized by Brian Ridge, however Laurie L. Dawley is listed as its registered agent in a 2023 filing.
The City has been approached by a prospective developer, Ridge Development LLC, to purchase four lots in Brewer Creek Estates 6th Addition: lot 6 — $19,995.00; lot 7 — $24,995.00; lot 30 — $24,995.00; and lot 31 — $29,995.00.
According to supporting documents in the Council packet, “the Developer will purchase the lots at full asking price originally established by Council in 2017, with $1,000 down per lot at the time the purchase agreement is executed and the remaining balance of each lot price paid after each home is built and sold. …
“If the purchase agreement is approved, closing on the four lots in the Brewer Creek Estate 6th Addition will commence immediately,” packet information says.
The agreement requires Ridge to commence development on the property within 18 months of the purchase date.
View this article as it originally appeared in the Daily Freeman-Journal.
Last modified: June 20, 2023