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EDA discusses strategies for 14 remaining Water's Edge lots and unplatted outlots; seeks developer proposals
Summary
The EDA reviewed options for selling 14 remaining buildable Water's Edge lots and larger unplatted outlots, discussed a standing 10% bulk discount, and directed staff to seek offers and consider an RFP for developers with build plans and timelines.
Board members spent considerable time Jan. 22 discussing options for disposing of remaining residential lots and larger outlots owned by the EDA, including bulk-sale offers, discounted pricing, and whether the EDA or a private developer should prepare parcels for building.
Staff reported there are 14 remaining buildable lots in the Water's Edge subdivision that could be built on with permits immediately. Using a range of assessed property tax examples, staff said the EDA had foregone an estimated $1,092,000 in cumulative tax revenue on the unsold…
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