Lawyers for the Town of Payson and The Door Stop, the cabinet door manufacturing company that wants to move from Chandler to property south of Payson Municipal Airport, have once again moved in to try and iron out the details of a 30-year lease/purchase option.
"We had a meeting (Wednesday) and we're back scribbling on the contract," Door Stop owner James Hill said. "I think we're in the looping phase the contract is presented, the lawyers argue, we redraw the contract, and then it starts all over again."
While Hill said he is still optimistic an agreement can be reached, he said the process has been more complicated than he expected.
"I guess I was a little naive to think this could be done in a form that was readable, understandable and just a few pages long."
Meanwhile, he is looking into alternative sites, including several in the county.
"We've looked at sites from Tucson to Prescott and Flagstaff. We've ruled a lot of them out, but a half dozen are still very much under consideration," he said.
The Payson site is still in the lead, Hill said, but only because it is the farthest along. "The other sites are catching up because of the delays," he said.
Hill said he originally thought a deal could be closed and construction would be under way by last Thanksgiving. "Now every time this goes back to the lawyers, we lose another five to six weeks," he said.
The tentative agreement that is being reworked originally called for The Door Stop to purchase lots 2 and 3 of the Sky Park Industrial Park Subdivision at their combined appraised value of $397,485, with $40,000 to be paid at inception of the lease and the balance due at exercise of an option that would occur within 10 years.
During that time, The Door Stop would pay $2,300 a month in rent, $1,250 of which would be credited to the purchase price. If the cabinet manufacturing company satisfies a set of community development milestones, including hiring 35 employees and paying an average wage of $12 an hour, another $900 of the rent will be applied to the purchase price.
During the Payson Town Council's March 8 meeting, the council voted to authorize attorneys to draw up a contract for council consideration and public review.