LINCOLN COUNTY PURSUING EARNEST MONEY FROM 2024 PINE CREST APA
Lincoln County is seeking earnest money as a result of the potential sale of Pine Crest that did not go through last summer.
An asset purchase agreement (APA) for the Merrill based skilled nursing facility was approved by the County last Spring with Merrill Campus LLC and Senior Management, Inc. The County states that the buyer paid $110,000 in earnest money as a part of the APA, and those funds are still with the title company. A resolution was unanimously approved during Tuesday night’s County Board meeting that would begin legal action to release that money to Lincoln County. Previous negotiations with the former buyer regarding the earnest money proved unsuccessful, so supervisors are directing corporation counsel to file necessary litigation regarding release of said funds in full to the county, and continued negotiations for a potential settlement may continue per the resolution.
