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<br />J[¡~~ <br /> <br />REQUEST FOR COUNCIL ACTION <br /> <br />DATE: 8-22-94 <br /> <br />ITEM NO.: D-7 <br /> <br />Department Approval: <br />1JP0 <br /> <br />Agenda Section: <br />Report and <br />Recommendation <br />Potential sale of the City owned property adjacent to the Zeece <br />site at 202 W. County Road B. <br /> <br />Manager Reviewed: <br /> <br />Item Description: <br /> <br />.:.:..:...: <br /> <br />Background: <br /> <br />1, Pineview Overlook Inc. has an option to purchase approximately four acres rrom Steve Zeece <br />at 202 W. County Road B. Immediately to the east of this parcel is an approximately 2.25 acre <br />site owned by the City. The Zeece site was approved for a single family residential subdivision <br />with a total of IS lots. The adjacent City owned land was originally picked up as tax forfeited <br />land for park purposes. The City Park and Recreation Commission and Planning Commission <br />have subsequently determined that this site is not necessary for parkland and has gone through <br />the process with the State to turn the property back and re-acquire it for development <br />purposes. <br /> <br />2. Pineview Overlook, Inc. has approached City staff about acquiring the adjacent City property <br />to combine with the land that they propose to acquire rrom Mr. Zeece to allow them to <br />develop a 38 unit townhouse project on the site. The developer has indicated that the project <br />would be developed as single story 2-unit buildings which would sell in the $120,000 to <br />$130,000 range. <br /> <br />3. The developer has requested that the City consider seHing the land to the project at no cost to <br />the developer. The costs which the City has invested in its property are approximately <br />$121,000. This includes the cost ofre~acquiring the property from the State, the cost of <br />acquiring one lot from Mr. Zeece to provide access to the site as well as the cost of the soil <br />tests that have been conducted on the site. <br /> <br />Alternatives: <br /> <br />The foUowing are possible alternatives which the Council could consider in this matter: <br /> <br />1, If the Council thinks this is an appropriate project and it is important to keep the sale price of <br />the units between $120,000 and $125,000, the City Council, through its EDAIHRA powers, <br />could agree to sen property to the developer as an incentive for the developer to complete the <br />project. <br />