1989-12-26 - Laserfiche WebLink

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I I I Council Meeting Minutes December 26, 1989 Page 8 Council Business, continued Benke asked Lockets prediction of the total parcel IS land value five year from now. Locke said it is difficult to predict land values, but being this is the second heaviest traffic intersection in the Metro Area, it unquestionably is a very attractive development site. In the investigation of possible community center sites, staff found that sites of marginal soil content were being priced at $2.00-$4.00 per square foot, as compared to the Miller parcel price of $1.00 per square foot. Currently, the two donated parcels are generating $6,000-$7,000 in annual taxes. The total parcel IS 17.2 acres are generating $30,000 in annual taxes. The parcells total taxable amount is $ .05 per square foot, as compared to $ .30-$ .50 per square foot for that of a modest development. Locke feels there are many possible options for temporary uses of the property and has received some inquires. Mr. Dahms questioned why the property has not been purchased by a private investor. Benke said several factors including, lack of a developer, listing price and rendering plant location, contribute to the property not being purchased. Mr. Miller has acknowledged there is a tax advantage in donating the land to the City, but also the City benefits from such a donation. Locke confirmed that the donated parcel is tax exempt and is insured under the City's general liability policy. Mr. Dahms feel s the City shoul d not use City funds to purchase property. Williams explained, at this time, the City is not purchasing the John Miller property, but only considering acceptance of the donation. Williams said in order for a city to go forward and remain viable, chances and risks need to be taken. Gunderman said a combination of the John Miller and the rendering plant properties would create one of the most attractive development intersections in the Metro Area. Motion by Larson, seconded by Williams, to WAIVE THE READING AND ADOPT THE RESOLUTION ACCEPTING THE DONATION OF 3.47 ACRES OF LAND FROM JOHN MILLER AND AUTHORIZE EXECUTION OF THE DONATION AGREEMENT. 5 Ayes - 0 Nayes, Motion Carried Wi 11 i ams noted the agenda i ncorrectl y 1 i sted Report 89-313, as Consi derati on for Purchase of John Mi 11 er site. Benke noted the correction be made to Consideration for Acceptance of Donation of Property from John Miller. Council Bus i ness Consideration of Acceptance of Donation of John Mi 11 er Property Report 89-313