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El of <br /> Request for Action <br /> River <br /> To Item Number <br /> Economic Development Authority 6.11 <br /> Agenda Section Meeting Date Prepared by <br /> General Business January 21, 2014 Jeremy Barnhart, Deputy Director, CODD <br /> Item Description Reviewed by <br /> Consider conceptual sale of lot 1,block 2 of <br /> Natures Edge Business center to Morrell Trucking Reviewed by <br /> to facilitate expansion <br /> Action Requested <br /> Direct,by motion with regard to the sale of Lot 1,Block 2 of the Natures Edge Business Center to <br /> Morrell Trucking. <br /> Background/Discussion <br /> Terry Morrell has informally approached staff regarding the purchase of Lot 1,Block 2 of the Natures <br /> Edge Business Center immediate adjacent to their existing facility on 1715`. Mr. Morrell would use the <br /> property to facilitate expansion of their operations. <br /> The sale of the property for this use would require amendments to the zoning ordinance as the property <br /> is currently zoned Business Park. Additionally, the FAST study identifies the subject property as "Transit <br /> Center"which envisions ground level retail/ office/ industrial and upper level office/ residential in 2-3 <br /> story buildings. The expected use would depart from this vision. Mr. Morrell has indicated that the <br /> expansion would facilitate additional jobs in the area. <br /> Since the EDA is tasked with facilitating the sale of parcels within the Natures Edge Business Center, <br /> would review any financing applications, and modifications to the regulatory controls would be required, <br /> staff felt it appropriate to review the use in concept,prior to full details being developed. The sale of the <br /> parcel could help facilitate modifications to site circulation, addressing some issues identified. <br /> The EDA has established a price of 2.00 per square foot, or$355,449 for the 4.08 acre parcel. <br /> Financial Impact <br /> The EDA has established a price of 2.00 per square foot, or$355,449 for the 4.08 acre parcel. <br /> Attachments <br /> • N/A <br /> PBMEBEB BY <br /> NATURE <br />