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AGENDA ITEM 3 <br />STAFF ORIGINATOR: Brian Wessel <br />DATE: 10/13/97 <br />TOPIC: Public Hearing on the proposed sale of property in <br />the Apollo Business Park to Rice Industries, Inc. <br />BACKGROUND: <br />Rice Industries is purchasing the last remaining 1.9-acre parcel in the city - <br />owned portion of the Apollo Business Park. The city is selling the land in the <br />park for $39,000 per acre, plus assessments. A public hearing is required when <br />the city is writing down the cost of city -owned property. <br />OPTIONS: <br />1. Open the public hearing <br />2. Continue the public hearing <br />RECOMMENDATION: <br />Option 1 <br />