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<br />'CAP{.T AL PLAN <br /> <br />City of Centerville, MN <br /> <br />Project # Ol-ADM-002 <br />Project Name Purchase Turcotte Property <br /> <br />2001 thru 2005 <br /> <br />Contact City Administrator <br />Department Administration <br />Type Improvement <br />Useful Life Forever <br />Category Land Acquistion <br />Priority I Urgent <br /> <br />Description I <br /> <br />Purchase the Turcotte duplex that is at the intersection of Sorel and Centerville Road. This property is currently fur sale. The site is immediately adjacent to the old public <br />works location. <br /> <br />Justification <br /> <br />I <br /> <br />This site is a key component in the process of downtown revitalization. The site has valuable frontage along Centerville Road. The City needs to take a proactive approach <br />in looking at downtown redevelopment The site would expand the City controlled portion of the block. The site may be attractive as a land swap with the Church ofSt. <br />Genevieve for some of their agricultural land north of LaMotte Park. <br /> <br />Expenditures <br />Land Acquisition <br /> <br />2001 <br />140,000 <br />140,000 <br /> <br />2002 <br /> <br />2003 <br /> <br />2004 <br /> <br />2005 <br /> <br />Total <br />140,000 <br /> <br />140,000 <br /> <br />Total <br /> <br />Funding Sources <br />General Fund <br /> <br />2001 <br />140,000 <br />140,000 <br /> <br />2002 <br /> <br />2003 <br /> <br />2004 <br /> <br />2005 <br /> <br />Total <br />140,000 <br />140,000 <br /> <br />Total <br /> <br />I Operational ImpacuOther <br />