In a recent government meeting, officials discussed the ongoing negotiations regarding state property transactions, particularly focusing on a property associated with a new hospital project. Kerri from ONES indicated that the state is currently awaiting new appraisals to ensure a fair price for the property, which will be sold by legal description rather than through an entitlement process aimed at increasing its value.

The discussion highlighted the unique challenges posed by the property, as potential buyers may face a three-year wait before gaining ownership due to the hospital's construction timeline. This situation raises questions about the feasibility of leasing the property, a possibility that remains uncertain until the completion of the OMES process for liquidation.

Officials noted that the city has the first opportunity to purchase the Griffin property, which is currently leased for $800,000. The existing lease agreements for the soccer field and Sutton Wilderness are expected to remain intact despite the sale of portions of the Griffin land to Cleveland County, ensuring at least 12 more years of lease security for the soccer field.

Additionally, the potential establishment of a Tax Increment Financing (TIF) district was discussed as a means to finance the acquisition of the property. This would involve issuing a debt instrument upfront, with future ad valorem tax revenue used to service the debt.

Overall, the meeting underscored the complexities of the property transactions and the strategic options available to the city as it navigates these developments.