Woodruff Director Assists with Negotiations of Agreement In Relation to Land Sale Netting Client $5.3 Million

Woodruff Director and City Attorney, David Kendig, assisted a municipal client negotiate a Profit Participation Agreement (PPA) as part of a sale of agency-owned property. The developer that purchased the land recently completed its sales of the new homes at the property at values that had increased since the sale closed, so the PPA netted our municipal client $5.3 million over and above the agreed-upon fair market value purchase price.