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Council presses EHD for letters of interest, questions assessed‑value gaps after $30,000 lot sale proposal
Summary
Council members asked the Department of Economic and Housing Development for records showing competing letters of interest and raised concerns that assessed values on the tax rolls do not match current market conditions after an agenda item proposed selling a lot assessed at $186,000 for $30,000.
On May 6 during the pre‑meeting, several council members pressed the city’s economic development staff for greater transparency about the process used to select buyers for city‑owned lots, asking for lists of letters of interest (LOIs), a rubric comparing competing offers, and historical LOI records going back several years.
Council members said the information circulated in the morning contained photos and a justification for a proposed sale, but not the set of competing LOIs or a summary of how many parties expressed interest. One council member asked that the Economic and Housing Development (EHD) department…
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