11-01-04 - Laserfiche WebLink

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VII-3 VIII-C-2 October 27,2004 TO: The Honorable Mayor and City Council FROM: John Grossman, HRA Director RE: Public Hearing and Resolution for the declaration of excess property and exchange of property with the HRA. The HRA has acquired and cleared all the property on Block 1, north east of the comer of Second and Tyler Street, for eventual redevelopment. One parcel remains in City ownership as shown on the attached map (B). It is not a buildable parcel by itself, but together with the adjacent HRA parcels, would enable new construction. The HRA proposes exchanging the City parcel for a parcel the HRA owns on the adjacent Block 2, also shown on the attached map (A). The HRA parcel was a portion of East First Street until vacated in 1965 for use of a creamery then located on Lot 1. The HRA will consider the sale of Lot 1 Block 2 for redevelopment. However, selling the piece extending into First Street could interfere with future public access and improvements in the park. The HRA believes that public purpose will be served by deeding that piece back to the City. City property has to be found excess and disposed of in a commercially reasonable manner. The Assessor's market value for the City parcel is $19,400 and for the HRA parcel is $5,148. The City Administrator and The City Attorney recommend that the exchange, without additional payment, be considered commercially reasonable in that the City will benefit from both redevelopment and the recovery of right-of-way on First Street. ACTION: The attached resolution declares the property excess and the exchange reasonable and authorizes execution of a deed for exchange for the HRA parcel. The contingency is that the HRA also prepare a deed for the City.