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<br /> . CITY OF 1lRDEN HILIS <br /> MEH:RANOOM <br /> ':00 : Mayor and City Oouncil, 0 <br /> FRCK: Dorothy Person, Mministrator 81 <br /> DATE: ................. 14, 1992 <br /> SllBJEC'l' : Lot sale - NW corner of Brueberry lane and Old Highway 10 <br /> As you are aware, the city Council received a request from E)jgewater <br /> Estates Partnership, Inc. for the purchase of the above lot. The Council <br /> requested that this lot be advertised to received closa:l bids pri= to <br /> negotiations on this purchase request. No bids were received. <br /> The negotiations then rontinued with E)jgewater Estates Partnership, Inc. <br /> 'lhese negotiations have resulted in a final offer by FdgelNater of $28,500, <br /> with the city ina=ing the cost of the lift station renoval. '!his lot was <br /> appraised in 1991 at $26,00 (with lift station renoval). <br /> . Advantages to this sale include rontinuing with ronsistent development <br /> of the adjacent townhouse development am the developer is a known quantity <br /> am has a p:lSitive record. <br /> Disadvantages include primary costs of lift station removal are assumed <br /> by the City, other lots have sold at a slightly higher price, depen:ling on <br /> location. <br /> Its <br /> . <br />