The City has determined the need for a stormwater storage facility on the west end of the City to accommodate the stormwater runoff from future development. It has also been determined that the intersection of 62nd Street West & Rimrock Road will be reconstructed as a roundabout by a separate project (administered by the Montana Department of Transportation).  The City approached the owner of the lots adjacent to the southwest corner of this intersection.  However, the City only needs one lot and a portion of the other two lots for the stormwater and roundabout improvements. The property owner and the City have agreed to an exempt lot-line revision to create a new lot that encompasses the City's needs. Accordingly, Lot 23-A of Sunnycove Fruit Farms Subdivision has been identified as a location for the stormwater storage facility and the proposed roundabout. The lot-line revision will be processed upon approval from City Council on the sale of Lot 23-A (this memo). Two appraisals of this lot and a third independent review of the two appraisals were performed as outlined in the City's purchasing policies. The independent review of the appraisals determined the value of this land to be $277,000.00.  Approval of this contract will authorize the City to purchase this land.

 The City Council may:

• Approve the contract authorizing the City to purchase this land and for the Mayor to execute necessary documents; or,
• Do not approve the contract authorizing the City to purchase this land and the City will not purchase this property. This will make it infeasible to build a roundabout in the future, and the City will need to find other land to manage future stormwater concerns.

Funding for the purchase of this land will use Storm Drain Funds. The appraised value of the land is $277,000.00.

Staff recommends that the City Council approve the contract and authorize the purchase of this land for $277,000.00.