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CRA to consider market-rate sale, brownfield incentives and to fund waterline; house rehab planned using SHIP funds
Summary
CRA staff told the board it received an unsolicited bid for a CRA-owned parcel that was about half the parcel’s appraised value and that, if the board moves forward, state CRA statute requires a public notice and competitive process before a market-rate sale and possible incentive package.
CRA staff briefed the board on potential property disposition, brownfield incentives and an infrastructure payment the CRA will fund to support a planned development.
Staff said the agency received an unsolicited bid approximately half of the appraised value for a parcel under consideration and that the CCRA advisory committee recommended moving forward with a formal appraisal-based sale process. Staff told the board that state CRA statute requires public notice and competitive consideration of buyers; if the CRA and city agree to sell the property the sale would…
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