An agreement between the city of Toledo and an unknown buyer for the Southwyck site is dead after a representative for the buyer sent a notice of termination to the city.
A letter from Louisville Title Agency for N.W. Ohio Inc., acting on behalf of the unidentified purchaser, terminated the agreement to purchase for $2.8 million the now-vacant 58.5 acre site along Reynolds Road in South Toledo.
The letter said Toledo Mayor Paula Hicks-Hudson was unwilling to extend the period of due diligence on the deal.
Mayor Paula Hicks-Hudson previously had said she could extend the purchase agreement without council approval but had been focused on getting the city’s 0.75 percent temporary income tax renewed by voters in November. The purchase agreement expired in October.
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