Council approves $10 purchase for small parcel; city to install $43,500 parking lot as part of Seventh Avenue project
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Summary
The city approved a purchase-and-sale agreement with NBI Plus LLC to acquire a small parcel for $10; the agreement requires the company to install an asphalt parking lot at an adjacent parcel at an estimated cost of $43,500, work that staff said is part of the Seventh Avenue reconstruction project and budgeted accordingly.
MOLINE, Ill. — The Moline City Council approved a purchase-and-sale agreement with NBI Plus LLC for property located at 700 15th Street for a nominal price of $10, conditioned on the installation of an asphalt parking lot at the company’s adjacent parcel at 1514 Seventh Avenue with an estimated construction cost of $43,500.
City staff explained to the council that the transaction exchanges a small parcel for the parking improvements; staff described the lot being paved where current surface is gravel or dirt. Alderperson Smith asked whether the estimated cost to install the parking lot might exceed the appraised value of the small parcel being conveyed. Staff responded that $43,500 was the best available estimate and that actual cost could be slightly more or less. Staff also confirmed the parking work is part of the Seventh Avenue reconstruction project and that the cost was included in that project budget.
Motion to approve the purchase-and-sale agreement was made by Alderperson Finch and seconded by Alderperson Castro; the measure passed by roll call (7 ayes, no nays).
Ending: Staff will proceed under terms of the purchase-and-sale agreement and coordinate the parking work with the Seventh Avenue reconstruction schedule.
