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MINUTES <br />CITY COUNCIL <br />AUGUST 29, 2011 <br />there was an agreement reached that the City's parcel could not be <br />developed as a fast food restaurant serving burgers. The Administrator <br />reported that initial estimates were that the City may be able to sell this <br />site for $400,000 and possibly over $500,000 as a fast food development <br />site. He also indicated that developing the site as a fast food site may not <br />be the image that the City wants for this location. <br />Keis asked if there were any issues with contaminated soils on the <br />property. The City Administrator indicated that potentially there could be, <br />it depends where the building sits in relation to where the gas tanks were <br />on the former Oasis development, however, it should not be an <br />insurmountable problem. The Administrator reported that Plowman has <br />this information. <br />Blesener stated that he likes the concept proposal before the Council, but <br />noted that this concept would result in the City potentially giving up <br />$200,000 in revenues. The City Administrator pointed out that the trade- <br />off might be less traffic generated in the area. Keis asked the difference in <br />property taxes for a professional office versus fast food restaurant. The <br />City Administrator indicated that property taxes would be based on <br />valuation and he estimated that each type of development would generate <br />close to the same property value. <br />Plowman stated that he understands the risk in marketing this property <br />given that the City needs flexibility to respond to any proposal that might <br />be submitted. Plowman just asked that if a proposal is made that the City <br />likes, that he be notified prior to the City entering into a purchase <br />agreement. <br />Montour stated that the concept R. J. Marco put together looks good, but <br />that he is not ready to make any commitment. Montour felt that the Rice <br />Street project needs to be completed before the City moves forward with <br />marketing the site. He also noted that there is a lot of vacant office space <br />up and down Rice Street. Plowman noted that he does not think a strip <br />mall would be a good development for this site, but rather a medical or <br />dental clinic. <br />Blesener stated that the City would not enter into an agreement with any <br />other developer without first discussing it with R. J. Marco. <br />Plowman thanked the Council for their time this evening. <br />7 <br />