Laserfiche WebLink
hkl Request for Action <br /> River <br /> To Item Number <br /> Economic Development Authority 6.3 <br /> Agenda Section Meeting Date Prepared by <br /> General Business May 19, 2014 Jeremy Barnhart, Deputy Director, CODD <br /> Item Description Reviewed by <br /> FAST study implementation <br /> Reviewed by <br /> Action Requested <br /> Receive update <br /> Background/Discussion <br /> At the March meeting, the EDA directed staff to obtain an appraisal of the Yale Court property, as well <br /> as complete a feasibility study for the development of the street connection between Yale Court and <br /> 170th, associated with the implementation of the FAST study. <br /> The property has been appraised by Home Value Appraisals at$68,000, substantially less than the <br /> owner's original asking price of$350,000. <br /> Within the next week, staff, an interested developer, and the property representative will be meeting to . <br /> discuss options related to a potential project on the vacant land adjacent to and possibly including the <br /> subject parcel. Staff is approaching that meeting as an opportunity to partner toward a mutually <br /> beneficial outcome: sale of the property for development, and the creation of an important road <br /> connection. Staff does not recommend any action by the EDA in advance of that meeting. <br /> The engineering study of the surface road network on the west side of Highway 10 remains on schedule <br /> for an August report. <br /> Financial Impact <br /> None. <br /> Attachments <br /> • Appraisal dated April 26, 2014 <br /> P 0 I E R E 1 I T <br /> NATURE <br />