Council Communication

Title:	Consideration of potential sale of real property - 9,900 sq. ft. Lot Adjacent to 128 W. Nevada Street.
Dept:	Administration
Date:	October 15, 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 9,900 sq. ft. parcel adjacent to 128 W. Nevada Street. This is a single family lot next to the Ashland Creek floodplain.
Recommendation:	Staff recommends that the council determine that it is necessary and convenient to sell the lot located adjacent to 128 W. Nevada Street and to further authorize the city administrator to take all actions necessary to market and sell the lot 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 lot will be used to reimburse the Open Space Fund for a portion of the original purchase price.
Background:	The property was purchased in August 2002, with open space funds. In August the council authorized the purchase of a 2.1 acre parcel which included 1.9 acres of parkland (Parcel No. 3) and this 9,900 sq. ft. Single Family Residential (R-1-5-P) parcel (Parcel No. 2) - see attached exhibit "A". At their meeting on October 8th the Planning Commission adopted findings approving the partition of this property. 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 Notice of Public Hearing). A Competitive Market Analysis has been prepared and establishes a price range of $95,000 to $105,000 with a suggested list price of $105,000. Any offer for the purchase of the property must exceed this amount or staff will bring the proposal back for further council action.

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