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Cass Property Page 5 <br />October 30, 1995 <br />----------------------- <br />purchase. If we enter into this purchase agreement, the land acquisition is <br />• scheduled for a public hearing before the Planning Commission in November <br />and the City Council on December 18, 1995. A public hearing for the <br />acquisition of property by a municipality is required by state law. The City <br />Council may dispense with this requirement if it finds by a two-third vote <br />that the proposed acquisition has no relationship to the Comprehensive Plan. <br />Following the scheduled December 18, 1995, City Council public hearing on <br />this land acquisition, we will need to reach a final decision on whether or not <br />this land acquisition and project is worth pursuing and finalizing. The <br />purchase agreement calls for a decision and the exchange of funds on <br />December 26 with the balance to be paid on March 15, 1996. <br />Staff recommends approval of the project as discussed on 9/25/95 and as <br />outlined above. <br />• <br />• <br />