Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Real Estate topic
No spam. Unsubscribe anytime.
Council sets surplus-property price at $0.50 per square foot plus survey costs
Summary
The city council set a price for surplus property at 50 cents per square foot and stipulated buyers must pay for any applicable surveys; the motion passed by voice vote.
The council discussed pricing for city-owned surplus land and voted to set a price of $0.50 per square foot. Council members said the figure is intended to be slightly below fair market value while keeping parcels affordable for small buyers; buyers will pay costs for any parcel-specific survey and title-transfer expenses.
Council members said the city already has a large parcel-level survey and that individual buyers who require split surveys will bear the cost of subdividing and registering their portion. A motion to price the surplus property at $0.50 per square foot plus the cost of any applicable survey passed by voice vote.
Ending: Staff will prepare sale terms consistent with the council’s direction and include the per-square-foot price and survey-cost requirement in sale documentation.
