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� � <br /> COMMUNITY DEVELOPMENT MEMORANDUM <br /> NO. 96-173 <br /> , <br /> October 1, 1996 <br /> TO: Honorable Mayor Terry M. Howley and City Council Members <br /> FROM: James L. Williams, Jr., City Manager <br /> George C. Weaver, Director of Community Development �✓ <br /> ,� <br /> SUBJECT: Ordinance Authorizing Sale of Land, Lots 7, 8, 9, 16, 17, 18, <br /> Block 2, Hills Second Addition <br /> The city purchased this property several years ago as a potential fire station location. As <br /> development patterns changed in the city, it was determined that this property can no longer meet <br /> fire service needs or has no practical city government use. <br /> In the past, the city has attempted to sell this property. No offers were received. There is an <br /> access restriction that limits the utility of this property. <br /> City staff has been approached by a developer regarding the sale of this tract. He has presented <br /> an appraisal in an amount of$15,000. The city had a review appraisal completed which showed <br /> the value to be $16,500. City staff has suggested a sale price of$15,750 to which the purchaser <br /> has agreed. <br /> The terms of the purchase agreement provide the purchaser until April 30, 1997 to complete this <br /> transaction. If the purchaser is unable to enter into a lease agreement, the purchaser reserves the <br /> right to declare this contract void. Due to the limited interest in this property, the staff finds this <br /> offer to be acceptable. <br /> Staff will be present to answer any questions. <br />