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* Open the Public Hearing and Consider the Sale of Real Property at 127 West Rosemary Street Pursuant to an Economic Development Agreement.
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Staff:
Department:
Ralph Karpinos, Town Attorney
Attorney's Office
Dwight Bassett, Economic Development Officer
Manager's Office
Overview: At its November 29, 20171 meeting, the Council scheduled tonight's Public Hearing to receive public comment on the proposed sale of Town-owned property at 127 West Rosemary Street to Investors Title Company. Following the Public Hearing, the Council may take action to authorize the sale pursuant to an Economic Development Agreement.
Recommendation(s):
That the Council receive comment from the Public, close the public hearing, and consider approving the sale of the Town-owned property at 127 West Rosemary Street under an Economic Development Agreement.
Decision Points
? Following receipt of public input, does the Council wish to authorize the proposed sale and Economic Development Agreement?
Key Issues
? Does the Council wish to retain ownership of this .14 acre lot?
? Does the Council believe the Town would benefit by offering the property for sale without conditions to the highest bidder rather than approving this Agreement and Sale?
? Are there other likely parties who would be interested in acquiring this .14 acre parcel?
? Do the terms of the proposed Economic Development Agreement warrant the private sale to this party?
Fiscal Impact/Resources: Revenue derived from this proposed sale could be used to improve downtown parking, specifically repairs/improvements to the Wallace Parking Deck.
Where is this item in its process?
Council Goals:
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Create a Place for Everyone
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Develop Good Places,
New Spaces
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Support
Community Prosperity
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Nurture Our Community
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Facilitate Getting Around
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Grow Town
and Gown Collaboration
Attachments:
* Resolution
* Draft Staff Presentation
* Manager's Memorandum
* Staff Memorandum
* Economic Development Agree...
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