The town of Coupeville has submitted a letter of intent to purchase a parcel of land downtown.

Mayor Molly Hughes said during a June 13 council meeting that the parcel owner, identified in the letter as Frank Meyer, contacted the town about purchasing his property at 1 Northeast 4th Street, Lot 2.

The mayor and the council have discussed the purchase in executive session in previous meetings, though they did not take any action prior to the June 13 meeting.

According to the letter, the seller will hold the parcel for the town at an agreed upon price until Aug. 15, allowing town staff to gather more information before making a final decision about the purchase.

The letter states that “due diligence” items to be completed by the town include a title search, a market price comparison, possible environmental and archeological testing and verification from Island County that Lots 1 and 2 on the property are recorded as separate parcels.

The town is not required to put forth any escrow money in this agreement, though Hughes told council members that the town could accrue some costs in the due diligence process.

In a 4-1 vote, the council authorized the planning director to sign the letter, with council member Michael Moore providing the dissenting vote.