BEND, OR -- The City of Bend is poised to sell the former site of the Bend Bulletin -- again. City councilors have approved an offer from Cascade Empire Lodging. The nearly $2.3 million deal is substantially less than the $4.8 million the city paid for the property back in 2005.

City Manager Eric King tells KBND the deal has not been finalized. "Well, they have about 60 days of due diligence, then another 60 days to close on the property, " King says. "So, I wouldn’t imagine any construction activity would begin for at least 6 months."

A year ago, councilors approved a $1.9 million sale to a different developer. King says that company couldn’t make the deal pencil, following the due diligence period.

"The intent is to have a mix of uses, hotel being primary," King says. "But also retail and a housing component and a community plaza as a centerpiece of that development."

The city bought the property eight years ago, with visions of converting it into a mixed-use city hall complex. Wednesday's approval of the deal includes a stipulation that allows councilors to review a conceptual design prior to development of the land.