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<br />adjacent to it. These properties, with 35W visibility, are being offered at $6.12/SF and <br />$5.99/SF respectively. <br /> <br />EDAC reviewed the proposal at their November meeting and recommended proceeding <br />with the offer subject to a condition that the site be integrated with the adjacent property <br />consistent with the 77th Street Realignment plan. <br /> <br />A Letter of Intent is typically a non-binding agreement between two parties to work <br />together under certain terms. Staff would suggest drafting an actual purchase agreement <br />should the council choose to proceed. <br /> <br />The property is owned by the City. Under City Charter requirements approval of the sale <br />must be completed by ordinance. There is no outstanding indebtedness on the property <br />so proceeds may be designated for other public use by the Council. Past property sale <br />proceeds have been designated for economic development purposes. <br /> <br />Requested Council Direction <br /> <br />Staff is requesting City Council consideration to move forward with the proposed sale. <br /> <br />Attachments <br /> <br />1. General Location Map <br />2. Street Realignment & Redevelopment Concept Plan <br />3. LOI