7.2 SR 12-18-1995 - Laserfiche WebLink

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Cass Property October 30, 1995 Page 3 be outside of the city sewer and water district and therefore would not be taking prime real estate out of the tax base. An additional note about this area is that the draft long range transportation plan calls for a north/south connector in the Jarvis and 165th location to hook up to Fillmore at 175th Avenue and eventually to County Road 12 and 13. This north/south link would make this area of the community much more easily accessible to all of our residents. If this approach for use of this property is accepted by the City Council, it is planned that the city would finance this purchase with WWTP funds, revenue from the future residential sites, and park dedication monies. Since the WWTP is going to use approximately 40 acres of the land for sludge purposes for 15 to 20 years, this department would pay the going rate or about $107,700 for this property. The city would then have to use some internal funds to finance the balance of the purchase, but would hope to recapture most of this approximately $200,000 through the selling of some residential building sites. An opinion by local real estate agent Mel Beaudry indicates that the city could recapture approximately $200,000 through the selling of six residential properties. This would be an approximately 7 acre residential site in the corner of Joplin and 165th, an approximately 14 acre site immediately south of this property, and for residential sites of approximately 4 acres each along 165th, immediately west of the 7 acre site. All of these residential sites would touch on the abandoned judicial ditch and wetlands area and therefore limits the usability of this property for city purposes. Please see the attached letter from Mr. Beaudry dated 8/28/95, and please note that the estimates for lot sizes are low as the total residential area exceeds 40 acres. With the selling of some land for residential lots and the funding from the WWTP, it appears that the city will recapture most of its purchase price. It may not recapture all of the expenses related to this project due to the cost to plat the property, sell the land, the environmental analysis, soil surveys, etc., and other work that has been and will need to be completed. Nonetheless, the actual outlay from the city's park dedication fund will be somewhat small for the obtaining of land for the development of recreation fields. The expenses related to the development of the recreation fields is another issue that needs to be explored and analyzed in detail if this project is to move forward. It is assumed that some of the development activities would be contracted out while some of the other development work would be completed by our city park and street crew. The funding for the development of the fields would have to come mainly from the park dedication fund, but could also come from the youth organizations that would be utilizing the fields.