04-10-91 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL APRIL 10, 1991 Blesener replied that Zender would be able to sell his property for a child care center, however, could not operate a duplex from his house, and never would have been allowed to under the commercial zoning of the property. Malsam reported that his potential buyer is concerned about requirements that the City might impose on the property. Malsam stated that the cost of changing the appearance of his home to look more like a warehouse would make the proposal unfeasible. Hanson stated that he had hoped the potential buyer could use the property without putting up an additional building, which would increase the value of the property. Malsam replied that his buyer needs the additional warehouse space. Blesener felt that the Malsam proposal should be required to abide by the requirements of the zoning district. Collova agreed, pointing out that these requirements are made of any proposal in this area. Blesener pointed out that the Council must consider that should the Malsam proposal be approved, it will be a permanent use of the site. Malsam stated that his buyer has indicated that he would be willing to sell the property for redevelopment in a couple of years. Blesener pointed out that redevelopment of the site might be cost prohibitive if the buyer invests too much money into it. Blesener asked if the City put together the TIF dollars to buy out the homes, how long it would be before the City would get those dollars back. The City Administrator reported that the debt has been figured on a 15-year basis. The Administrator reported that he did not, however, take into consideration if the buy-out could be done on a contract-for-deed basis. This would minimize the initial cash amounts that the City would have to expend. Zender reported that he and Mr. and Mrs. Rice would be willing to sell to the City on a contract-for-deed with Page 11