5.3.
HRA Regular Session
- Meeting Date:
- 04/23/2013
- Submitted For:
- Kurt Ulrich
- By:
- Jo Thieling, Administrative Services
Information
Title:
Develop Offer to Purchase Property at 6710 Highway 10 NW in Ramsey (Portions may be closed to the public)
Background:
The City has been asked if it had an interest in purchasing property at 6710 Highway 10 NW in Ramsey, by the current listing agent. The property is being listed by Premier Properties.
Notification:
None.
Observations/Alternatives:
This property is currently the site of an adult bookstore and is being listed for sale at $375,000. The current use of the property is a limited adult use, that is limited to 10% of the display area and other types of adult uses would not be allowed on this property. The exterior of the property is in generally poor condition and the value of the parcel is land value only.
The property is not needed for future Highway 10 right of way, but it could be considered a commercial redevelopment site. HRA, EDA, or City monies (or a combination thereof) could be used for purchase of the property.
The property is not needed for future Highway 10 right of way, but it could be considered a commercial redevelopment site. HRA, EDA, or City monies (or a combination thereof) could be used for purchase of the property.
Recommendation:
Staff recommends that the Council consider developing a proposal to purchase this property in closed session.
Funding Source:
HRA, EDA, or City funding.
Action:
Consider action in closed session and report.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 04/18/2013 05:40 PM |
- Form Started By:
- Jo Thieling
- Started On:
- 04/18/2013 04:31 PM
- Final Approval Date:
- 04/18/2013