By Deseray McKinzy
The Pine Bluff Urban Renewal Agency (PBURA) met on Tuesday for their monthly meeting and discussed particular projects and objectives in their agenda which included a resolution for the former bus station on 221 W 4th Ave. The property is adjacent to property that PBURA has already purchased to build a housing project.
The owner of the property is currently leasing it to another entity and the resolution included an offer to pay the appraisal price of 89,000 for the property and to pay half of the remaining lease amount. PBURA would pay no more than 112k in total and will be credited $1,000 for each month that the owner does not close on the property.
The agency passed the resolution to agree to the terms listed.
