city-of-new-albany-resolution-to-amend-chapter-1144_51f.pdf
City Approves $15M Land Purchase from LHR Industries
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Description
The City of New Albany approved Resolution R-27-2025 authorizing the City Manager to enter into a real estate purchase agreement with LHR Industries Inc. for approximately 49.424 acres at 6500 New Albany Road East. The purchase price is not to exceed $15 million, with a 90-day due diligence period for inspections and appraisal.
Contract Details
Contract Amount
Not to exceed $15,000,000.00
Vendor
LHR INDUSTRIES INC
Agency
City of New Albany city, OH
Contract Type
OTHER
Document Date
August 19, 2025
Contract Term
Single real estate purchase; purchaser has 90 days for inspections after acceptance
Renewal Info
One-time land acquisition; no renewal terms are specified as this is a fee-simple property purchase.
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