HRA MINUTES 06231992 - Laserfiche WebLink

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i.R.A. N.EETI'.vG JUNE 23, 1992 PAGE 4 4 5 : 6 7. OLD CLARY STATION REDEVELOPMENT 7 8 Mr. Fisher, owner of the Old Clark Station property, met with 9 the City Manager and the City Attorney. He was advised that 10 the preliminary soil tests indicated there is ground 11 contamination on the property. The complete area of 12 contamination is yet to be determined. 13 14 Mr. Fisher is aware he is responsible to clean up the 15 contamination before any sale of the property can take place. 16 He was also advised that financial assistance is available to 17 him from the Petroleum Fund of the State. 18 19 He is still interested in selling the property. The City 20 Attorney advised Mr. Fisher that the City will pursue a 21 developer for the property and will facilitate the purchase of 22 the property from him by a developer. The City will not be on 23 record as the owner of the site during any of the proceedings. 24 25 26 The City Manager has been in contact with a developer who is interested in purchasing the site. He noted that a three-plex could possibly be built on Xhis site if the parcel to the 29 north were included in the package. 30 31 The H.R.A.'s role will be to provide financial assistance to 32 the developer purchasing the site with controls on the 33 development and design of future construction on the site. 34 35 The developer stated that if there is contamination on the 36 site financing would be very difficult to secure for possibly 37 five years. 38 39 The City Attorney has contacted Mr. Derck Amerman regarding 40 the City's proposed purchase of his property at 3309 Stinson 41 Boulevard. This property is adjacent to the Old Clark Station 42 property. 43 44 Mr. Amerman indicated he is not interested in selling his 45 property at this time. His main concern with the sale was the 46 tax consequences to him of the capital gain. The City Attorney 47 advised that the gain could be deferred if he were to buy 48 another rental property within a period of three years. 49 50 Mr. Amerman still prefers not to sell but would sell if the 51 City needed the property. The assessed value placed on the property and the duplex for 1992 was $84,000. Mr. Amerman will seek another appraisal.