2001-09-26 CC - Laserfiche WebLink

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Memo 20 September, 2001 To: Honorable May Swedberg and Council ,,""'-1 '~") Paul Palzer, Public Works Director/Building Official i~~ From: Re: Sheehy Property I met with Sy Sheehy and he withdrew his offer of $56,xxx.00 for the fifteen acres located on 20th Avenue south of Comfort Plus Heating. His reason is because the City did not get back to him until a year after he had made the offer. As you recall, the Council did approve the offer in September of 2000. Sy is currently willing to exchange the southern nine acres for the entire remaining assessment of$87,xxx.00 as shown on the plat layout. Mr. Goetz has offered Sy $60,000.00 for the northern six acres. The northern six acres contains 90% of the land that is not in the flood plain. Mr. Goetz's offer was not a cash deal and the entire assessment would have to be paid prior to subdividing the property. The Council needs to assess the City's interest in the property and determine if they would like to acquire the entire fifteen acres or a smaller portion. I believe a deal can still be negotiated if the City has an interest in the entire parcel. This site could possibly be used for a future water tower site. Also the western property line along 20th Avenue has three water and sanitary sewer services provided to the property, which could be developed into commercial lots. The current offer also included a twenty-foot easement along the southern edge of the east five acres that Sy will still own out of the original twenty acres. If the Council is looking for ways to fund the project, the old public works site along with the duplex could be sold for $300,000.00 to $400,000.00. Additional monies could be raised if part of the property was developed as mentioned above. The City Engineer may want to review the site as to the feasibility of subdividing it into commercial sites.