The Rio Verde Plaza, a former shopping plaza off of Main Street, has been sold for $180,000 to Tim Kinney.
Kinney offered the highest bid on the property. Two other bids came from the VanLandingham Land and Cattle Company and Tierra Verde Holdings.
Those two groups offered $87,500 and $119,865, respectively. Since the price is less than $500,000, the sale doesn’t require a public vote.
The price is still dependent on an appraisal of the property, Town Manager Russ Martin said, since the town is not allowed by law to sell the property at less than what it is worth.
“If it’s more than that then we’ll be back here,” Martin said. “Maybe there was a day when it was worth that but that day is not today.”
The shopping center, built in the early 1980s, was purchased by the Town of Camp Verde in 2004; the council had originally planned to tear down the building for the possible creation of a tour bus parking area with the hopes of bringing more visitors downtown.
To read the full story, see the Wednesday, May 13, edition of The Camp Verde Journal.
