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MINUTES <br />CITY COUNCIL <br />FEBRUARY 12, 2014 <br />LABORE asking price for this property is $120,000. The Administrator noted that <br />ROAD the property was most recently advertised for sale in the Fall issue of the <br />City's newsletter, and the City has received no offers to purchase. He <br />indicated that the City purchased the lot for $67,500, and with demolition <br />and other costs, has $90,000 to $95,000 invested in the property. <br />Blesener noted that at one point Masterpiece Homes was looking to <br />purchase the lot as a larger redevelopment project. However, Masterpiece <br />Homes was unable to put together the project given the asking prices of <br />surrounding properties. <br />Blesener asked about the future trail improvement on the back of this <br />property. The Administrator indicated that the City would retain an <br />easement for the trail, and an easement document could be recorded at <br />closing. <br />The Council discussed the sale parameters that were outlined in the Fall <br />newsletter. The Administrator pointed out that the article indicated that <br />the sale terms were negotiable. McGraw indicated that sale should be <br />contingent upon a deadline for construction of a house on the property. <br />It was the consensus of the Council that the offer price was acceptable, <br />and instructed the City Administrator to proceed to put together a purchase <br />agreement. That agreement will be brought to the Council at an upcoming <br />meeting for approval of sale price and terms. <br />ADJOURN There being no further business, the meeting was adjourned at 9:10 a.m. <br />Attest:'. <br />illiam Blesener, Mayor <br />Joel anson, City Administrator <br />13 <br />