The Fairview Board of Commissioners approved an ordinance Thursday to amend the city’s fiscal-year 2024–25 budget, appropriating approximately $3.3 million to make funds available for potential purchase of four parcels near City Center and other locations, including a parcel in Hickman County.

City Manager Tom Daugherty told the board the appropriation would make money available if the board chooses to complete purchases, but that it did not itself authorize any acquisitions. “This does not give the city the right to purchase the property. You still have to go through all the legal and contractual processes,” Daugherty said.

When asked how the $3.3 million would be divided, Daugherty said roughly $2,300,000 is earmarked for two parcels at 2178 and 2188 Fairview Boulevard; roughly $700,000 is allocated for the property between city hall and First Bank; and approximately $250,000 is set aside for the Hickman County parcel. Daugherty described those amounts as approximate and said he had added a small contingency for surveys, Phase I environmental reports and closing costs.

Daugherty said appraisals and due diligence are in progress: appraisals have been ordered and a Phase I environmental assessment has been ordered for at least one property; he said staff expected Phase I reports and other due-diligence items within two to three weeks and would deliver findings to the board in advance of the May 15 meeting. The meeting transcript records the due-diligence expiration date for one parcel as May 5.

Commissioners asked staff for updates on title work, survey, Phase I, and other items; Daugherty said title showed no expected exceptions and he expected to forward staff reports and Phase I results to the board as soon as they arrived.

The ordinance passed 5-0. Any purchase would still be contingent on separate approvals, clear title, surveys and contract negotiations.