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<br />REQUEST FOR COUNCIL ACTION <br />DATE: 04/28/97 <br />ITEM NO: F-3 <br />~~~~t Approval: Manager Approved: Agenda Section: <br />~ REPORTS <br />Item Description: Sale/Redevelopment of 2.1 Acre City Owned Site. <br /> <br />1.0 BACKGROUND <br /> <br />1.1 In 1991-92, the City acting under the City's HRAlEDA powers, reacquired the 2.1 <br />acres of land adjacent to the Zeece site at Albemerle and County Road B. The City paid <br />$121,000 for this site with the intention of using it as a redevelopment site to add new <br />housing to the community. The City paid an additional $18,826 for one lot to access the <br />site from Albemerle Ct. <br /> <br />1.2 In the past three years, two developers have approached the City to purchase the <br />site at no cost and combine it with the Zeece site. In both cases, the developers have <br />eventually dropped the project. <br /> <br />1.3 In January 1997, Larry Aim approached the City and requested to purchase the 2.1 <br />acres for $102.000. Mr. Aim found that the extraordinary soil compaction problem does <br />extend into the city site. In addition, to make the city site usable, a new cul-de-sac and <br />utilities must be constructed to the site. An outline of the costs is attached in Exhibit A. <br /> <br />2.0 STAFF COMMENT <br /> <br />2.1 While it is possible to develop the site independent of the Zeece site and enter the <br />city owned site from the County Road "B" frontage, this 2.1 acre site cannot be efficiently <br />developed without connection to the Zeece site. (In essence a new city entrance would <br />create 2 intersections onto County Road "B" within 150 feet.) The original plan of the city <br />was to create 1 lot on "B" and four to five single family lots on an extended cul-de-sac. With <br />the proposed plan 12 to 13 housing units can be constructed and the Zeece site becomes <br />a better neighborhood development site because it is connected to the city site through <br />extended cul-de-sacs. <br /> <br />2.2 The City through, its HRAlEDA powers, invested $141, 113in the purchase of the <br />site with the intention of redevelopment. It was possible that cost reductions would be <br />made if soil or development costs made the city site undevelopable. <br /> <br />2.3 The staff has reviewed Mr. Aim's request for a reduction in the purchase price of the <br />site from $141,113 to $102,000. The costs, shown in Exhibit A, appear reasonable. <br /> <br />1 <br />