Title
Discussion and action on proposal to purchase property
Body
SUMMARY:
A request has been received from Butch Smith, representing Forbus Investments, LLC, to purchase approximately 7.8 acres at Interchange Business Park for $25,000 per useable acre. This property is currently under lease to TLD Logistics Services and TCAT for their driver training school. The lease is subject to a 90-day cancellation notice (Section 5). In addition, the City Charter requires a 30-day advertisement for the sale of property.
The parcel is bounded by a stream on the western side which would require a 30 foot average vegetated buffer. The acreage for this buffer is 0.72 acres leaving the remaining usable acreage at approximately 7.1 acres.
BUDGET ACCOUNT:
Recommended Action
NECESSARY COUNCIL ACTION: Consider request.