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City reports $1.425 million appraisal for 8509 Line Avenue, to send letter of offer to owner
Summary
City staff reported an appraisal of $1,425,000 for 8509 Line Avenue and said they will send a letter of offer to the owner's agent; the city will follow up to see whether the owner accepts.
City staff told the council they received an appraisal valuing the property at 8509 Line Avenue at $1,425,000 and that the appraisal has been provided to the owner’s agent as the city considers an acquisition.
The city said it will prepare a formal letter of offer and follow the appropriate steps if the owner accepts. Staff noted the owner has previously indicated that the appraisal value may be lower than the owner expects, so the city will await the owner’s response before proceeding. No purchase agreement or appropriation was approved at the work session.
Council members asked whether the purchase would fit into the capital budget and were told there will be budgetary challenges but staff believe they can make it work by reprioritizing some site work and parking improvements. The mayor’s office said staff will follow up and report back when there is a formal offer response or next step.
No formal motion or vote on acquisition occurred during the session.
