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MINUTES <br />CITY COUNCIL SPECIAL <br />NOVEMBER 14, 2016 <br />if they recommend the City have a survey, soil borings or a Phase 1 <br />environmental assessment done. Mr. Angleson stated it would be <br />preferable to have that done upfront because banks require this in order to <br />finance projects, but otherwise the purchaser would likely just want a <br />longer due -diligence period to do survey work. He recommends an ALTA <br />survey and a Phase 1, which can be updated annually fairly quickly. He <br />noted that the purchaser can do soil borings since banks will not require <br />this. The City Administrator suggested doing the soil borings on this site <br />along with next year's street project soil borings. <br />Mr. Angleson explained their firm will list the property on the commercial <br />MLS website, along with other commercial real estate sites, many of <br />which are national. He stated they can reach brokers, realtors, developers, <br />and builders, and they also use Craig's List, Linkedln, and their own <br />Avison Young website. He noted the software used for the online <br />brochure allows anyone to be a subscriber and stay updated when anything <br />happens on the individual property's site, such as updates or inquiries. <br />Mr. Bahneman asked what type of development the City wanted here, and <br />questioned if multi -family housing was an option. He suggested the City <br />consider townhomes, but it is marketable for both single family and <br />townhomes. There was Council consensus for either single family homes <br />or townhomes. The City Administrator stated the City is more concerned <br />about it being a good project versus getting the most money. <br />Mr. Bahneman explained that the City can reject or accept any offers that <br />are made. He noted that land typically takes longer to sell, and the <br />Council should expect it could take a couple of years. He stated that the <br />City does not need to do an appraisal since they have market comparisons <br />that they are comfortable with. <br />The Council agreed the City Administrator should get prices on surveys <br />and soil borings, and call Masterpiece Homes to see if they are interested <br />in the land. The City Administrator will bring this information to the <br />November 30t" Council meeting. There was Council consensus to enter <br />into a contract with Avison Young if Masterpiece Homes is not interested. <br />ADJOURN There being no further business, the meeting was adjo rued at 7:30 rpan. <br />ohn is, Mayor <br />Attes*Joelanson, <br />j <br />City Administrator <br />2 <br />