The City Council will consider adopting a Resolution of Intent to sell fourteen (14) lots in Block 245 of the Sugar Factory/Billings Second Addition.  Twelve of the lots front on S. 27th Street between 10th Ave. South and 11th Ave. South and the other two lots are located in the same block but front on S. 28th Street.  The City acquired the property in 1996 through donations by Mr. Slovak, Mr. Wilkins and Mr. Henman.  The property was valued at $147,500 at the time it was donated.  At least one party has expressed interest in the property, but City practice is to solicit competitive offers before considering a land sale.  According to the City Code, the Council must publish notice, inform surrounding property owners, conduct a public hearing and then may consider selling the property.  If the Council adopts the Resolution, staff will publish the notice and inform nearby property owners about a pending sale and will request sealed bids for the property.  Those bids will be presented to Council for its consideration at the August 13, 2012 meeting.      

The City Council may:

• Adopt the resolution of intent to sell the subject property, or
• Not adopt the resolution of intent.  Staff requests that the Council provide guidance on its desired next steps. 

There is no financial impact to adopting the Resolution of Intent.  There will be minor advertising and notification costs but they can be offset by the property's eventual purchase price.  Additional price analysis will be provided for the August 13 meeting. 

Staff recommends that the City Council adopt a Resolution of Intent to sell Lots 1-12, 20 and 21, Block 245, Sugar Factory/Billings 2nd Addition.