4.7. SR 12-19-2016 - Laserfiche WebLink

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City ol Request for Action RiVeor" To Item Number Mavorand City Council 43T Agenda Section Meeting Date Prepared by 0:)nsent June 15, 2015 Arnanda Othoudt, F"conornic Development Director Item Description Reviewed by Letter of Intent to PurchArSC Propertyr and Cal Fortner, City Administrator Authorize Appraisal on Real Propetty Iodated at Reviewed by Corner ofJoplin Street and Highway'10 Action Requested Approve, by motion, the letter ofintentto purchase real property located at the Intersection of Highway 10 and Joplin Street and authorizing an -appraisal to be conducted on the property. Background/Discussion Staff has been working with developer interested in the development of city-owned property located at the corner of Joplin Street and Highway 10. The developer is proposing improvements to the site with tip to three cornryiercl-al/retail buildings. The developer has indicated that these cornmercial/ret-all buildings may include a national client with a drive thru, a regional*onal client, and alloxv for local business development in a multi-tenant building. Internally, staff met to discuss any concerns with the sale and development of the subject property. No immediate concerns were addressed in relation to the sale of the property. The project is still subject to site plan review with staff once a purchase agreement is reached and a formal land use application is submitted. Staff recommends entering into an agreement with the developer through the I titter of Intent and authorizing a property appraisal to determine the current market value. Further discussion and negotiations regarding the sale price of the property,will be discussed with the developer once the appraisal is obtained. Financial Impact None: Attachments Elbert Construction Letter of Intent to Purchase P (11 W I H I P fli T Template V 1pcfaed<}/1W INATURE