The City of Billings owns property at 2229 Blue Creek Road as shown on the attached exhibit and described as follows:

Certificate of Survey No. 3426; Being Tract 1A of Amended Tr. 1 of the 2nd Amendment of C/S No. 566 and Tr. A-2 of Corrected 2nd Amended Tr. A-1 and A-2 of C/S No. 646 Situated in the SE ¼, Section 20, T1S, R26E, PMM, Yellowstone County, MT

Tract 2 of the property shown on the exhibit is the property to be sold, and it has a combined total area of 10.9 acres.  Tract 1 is 0.5 acre in size, contains the recently constructed Briarwood Sewer Lift Station and will be retained by the City.  Tracts 1 and 2 were purchased by the City for $550,000 in the summer of 2006 for the purpose of siting and constructing the lift station.  This City property has drawn significant interest from the development community, and ongoing inquiries are being made regarding the timing of its sale. The Public Hearing Notice was advertised on March 4 and March 11, 2010 and notices have been mailed to property owners within 300 feet of the property.

The Council may:
• Approve Resolution Authorizing the Sale of Tract 2; or
• Do not approve the Resolution Authorizing the Sale of Tract 2.

A recent market analysis or appraisal is not currently available; however, combined Tracts 1 and 2 were purchased by the City for $550,000 in the summer of 2006 and should be similarly valued today.  An appraisal or market analysis of the property may be conducted as the actual timing of the property sale draws near.  As follow-up to Council approving the Resolution Authorizing the Sale, Tract 2 will be offered for public bid.  Once bids are recieved, Council will have the opportunity to award or not award a bid to purchase the land.

Staff recommends that Council approve the Resolution Authorizing the Sale of Tract 2 of the new Certificate of Survey.