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Council authorizes listing of 34 acres on Westside Drive with single bidder
Summary
The council approved a resolution authorizing the mayor to sign a seller’s listing contract with Investment Realty to market 34 acres of surplus land on Westside Market Drive, with a $850,000 asking price and a 6% commission; staff said only one proposal was received after solicitation.
The Rolla City Council on Aug. 4 authorized the mayor to sign a seller’s listing contract with Investment Realty to market 34 acres of surplus property on Westside Market Drive.
Why it matters: The 34‑acre parcel, a remnant from earlier West Side Marketplace development, includes roughly 20 acres on the south side of Westside Drive and 14 acres on the north side. City staff said the parcel has drawn periodic interest from developers and that resale proceeds would return to municipal coffers.
What the council heard: City staff described the property’s history: the city received the land as part of an earlier transfer tied to West Side Marketplace development. The city issued a solicitation for real estate brokerage services in May and June and received a single proposal from Investment Realty. Staff recommended listing the combined 34 acres with a market listing price of $850,000 and a 6% seller commission. The staff presentation said the city would prefer not to see further subdivision that would leave low‑lying creekside remnants.
Action taken: The council approved the resolution authorizing the mayor to execute the sellers‑agency listing contract by voice vote.
What remains: Investment Realty will market the property under the agreed terms; the city will consider individual offers and any required land‑use approvals or restrictions if a buyer emerges.
Sources: Staff presentation by John and council discussion during the meeting.
