Council Communication

Title:	Consideration of potential sale of real property- 667 North Main Street
Dept:	Administration
Date:	August 6, 2002
Submitted By:	Greg Scoles, City Administrator
Reviewed By: ........................	Paul Nolte, City Attorney

Synopsis:	This action will authorize the city administrator to take all actions necessary to market and sell the real property located at 667 North Main Street and to ensure that the net proceeds of the sale reimburse the open space fund.
Recommendation:	Staff recommends that the council determine that it is necessary and convenient to sell the property located at 667 North Main Street and to further authorize the city administrator to take all actions necessary to market and sell the property with the net proceeds of the sale to be used to reimburse the open space fund.
Fiscal Impact:	The net proceeds from the sale of the property will be used to reimburse the open space fund for a portion of the original purchase price.
Background:	The property was purchased in March 1999 with open space funds. Subsequently, in April of 2002, the city council approved the partitioning of the property into two parcels, one parcel to be dedicated for open space/park purposes and this parcel to be sold to reimburse the open space fund. ORS 221.725 requires that prior to any sale of city real property that the city holds a public hearing concerning the sale. It also requires that a public notice of the hearing be published during the week prior to the hearing, which describes the property, the proposed uses for the property and the reasons why the city council considers it necessary to sell the property (see attached). An appraisal has been prepared to establish a base market value of $250,000. Any offer for the purchase of the property must exceed this amount or staff will bring the proposal back for further council action. It should be noted that the Parks Commission has requested that an easement be created which would restrict construction on a portion of the property to protect an existing Bay Laurel tree. This easement will be incorporated as part of the sale of the property.

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