City commissioners extend land deal with Olivieri Builders
A contract with Oliveri Builders which allows the company to build in city-owned vacant lots was approved for extension at Monday’s Mount Pleasant City Commission meeting.
The business pays $1 for each lot and owns 23.
The only commissioner to vote against the plan was Vice Mayor Kathy Ling, who said she had too many questions about the contract and thought it was too ambiguous.
“The property committee made a serious effort to be creative,” Ling said. “I’m just not comfortable with all of the provisions of the new contract.”
Commissioner Jim Holton said each tract of land was worth $20,000, but the city sold them to Oliveri Builders to spur home development in a housing lull.
The developed lots will pay for themselves with tax dollars, Holton said.
“They can make a bigger home, a better home, and make it more affordable,” he said.
While the lots are undeveloped, Oliveri Builders maintain the land in lieu of taxes.
City Manager Kathie Grinzinger said, since 2008, only two of the built houses have sold.
There are 11 lots to be built on and one “spec” model home property, Holton said. Eleven of the lots are occupied with homes.
“Joe (Oliveri)’s a smart businessman,” Holton said. “He wouldn’t (enter into this contract) unless he could sell these houses.”