A buy-sell agreement between Troy Volunteer Ambulance and the City of Troy is off to the title company.

During a March 17 council meeting, Tracy Rebo, city clerk, said a representative from the ambulance group and Mayor Dallas Carr had signed the document formalizing the sale of a piece of municipal property.

“I got it sent to the title company today and they are working on it as we speak,” said Rebo.

The news comes nearly two months after city councilors agreed to sell a city-owned lot at 303 N. Third St. to the ambulance organization for $150,000.

During a Jan. 13 meeting, Pam Tallmadge, vice president of the volunteer outfit, said the group was working with a loan officer to assess their financial options. She told councilors that while the group could purchase the lot outright, organizers would rather use some of the funds to revamp the property.

Tallmadge came before the council last August seeking to acquire the property. As the ambulance group expanded in recent years, volunteers found their county-owned building on Third Street was becoming cramped.

Tallmadge said the group would repurpose one of the structures on the 303 N. Third St. property in to an office building with sleeping quarters for on-duty volunteers. The organization’s plan called for another building to be converted into an instructional facility for training responders. Other structures on the property would serve as a garage and storage space.

As of the Jan. 13 meeting, Tallmadge said she was uncertain who would occupy the group’s current ambulance barn on Third Street.