At a special meeting Monday night, the Bisbee City Council approved a settlement agreement with the owners of 30 Main St., the property where the Valentines Day fire started.
According to the settlement agreement, the property owners Craig Reece and Anne Bush will transfer 30 Main St. to the city. The pair will also pay the city $500 a month until a lien in the amount of $163,790.22 the city has placed on a second property owned by the pair is paid off. If Reece and Bush default on the payments the city will foreclose on the property the city placed the lien on.
The settlement agreement states that Reece and Bush will transfer the 30 Main St. property to the city upon signing the settlement agreement. According to the settlement, “The City has agreed to accept the Property free and clear of any liens and encumbrances, except for the City’s Lien. Debtors shall immediately provide the City with a Warranty Deed for the Property, which transfers the property.”….read full story (online subscribers only)