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Council authorizes $725,000 for EDA to acquire 9317 Portner Ave
Summary
The council approved $725,000 from capital reserves (purchase price $675,000 plus $50,000 for closing, inspection, survey and demolition planning) to support the Economic Development Authority's acquisition of 9317 Portner Avenue.
Council authorized $725,000 in capital reserve funds for the Economic Development Authority to acquire property at 9317 Portner Avenue. The purchase price is $675,000 and the city agreed to provide up to $50,000 for closing costs, inspections, environmental review, survey and pre‑demolition work.
City staff noted the additional $50,000 is intended to cover transactional fees and site work necessary for EDA planning; council approved the resolution (R2026‑008) by roll call. The EDA will proceed with acquisition and begin next steps, which may include environmental assessment and preparing the site for redevelopment or demolition per EDA strategy.
