Laserfiche WebLink
<br />Net Proceeds and Use: <br />Subtracting demolition, site restoration, and sale costs from the $184,000 negotiated <br />sale price will result in net proceeds estimated at $149,000. <br /> <br />The Project Management Team that consists of the three city managers/administrators <br />and the Fire Chief are recommending sale net proceeds be deposited with the Fire <br />Department and applied to its' 2007 Capital Budget. This action will result in the three <br />partner cities having their 2007 Capital Budget payment to the Fire Department being <br />reduced by the applicable formula share amount. <br /> <br />Initial use of the money was targeted for completion of the new station as land costs <br />exceeded the budgeted amount by almost $500,000. However, the final accounting of <br />the project is near completion and it remains apparent that the project will come either <br />under budget or very close to the budgeted cost. <br /> <br />Recommendation: <br />Accept purchase offer of $184,000 from Kingswood Church and proceed with sale of <br />property. Deposit net proceeds in 2007 SBM Fire Department Capital Budget resulting <br />in reduced capital budget payments to Fire Department. <br /> <br />Attachments: <br />Salient Facts and Conclusions from BRKW Appraisals Inc. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />