CCP 02-23-2004 - Laserfiche WebLink

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. . . ~ ~HILLS MEMORANDUM DATE: AgendaItem EDA 3.A. February 19, 2004 TO: Chair and Members of the EDA Michelle Wolfe, Executive Director FROM: Aaron Parrish, Assistant City Administrator SUBJECT: lndykiewicz Property ENCLOSURE: Offer Letter June 10, 2002 Memo August 21,2002 Memo OVERVIEW From time to time, staff receives inquiries on the Indykiewicz property. Most recently, we have received an offer from a convenience store / gas station user. The offer was submitted by frauenshuh Companies serving as the broker for the end user. As Council will recall, the 2002 appraisal of the property indicated a value range $722,677 to $I,01l,748. The offer for the property is $711,700. This is attached for your review. While in the past the EDA has indicated a preference not to have a c-store use on the site, staff felt that since an offer had been received, it should be forwarded for EDA consideration. At this point, staff has not formally evaluated the terms of the offer, what types of performance standards would need to be incorporated into a purchase agreement, or whether the asking price for the property is appropriate. We have indicated to the broker that if a c-store concept was acceptable, that there would need to be significant design and landscaping criteria incorporated into the project approval and/or purchase agreement. Since we have received inquiries from other c-store users interested in the property, if the EDA is comfortable with the use, you may want to solicit interest from other prospective purchasers as well. DISCUSSION At this point, it is staffs hope to solicit the Council's general feedback on whether or not to pursue thc use or this particular purchase agreement further.