Blaine authorizes purchase of a redevelopment parcel in 105th district for $980,000

The City Council authorized staff to execute a purchase agreement for a property within the city’s 105th redevelopment district at a purchase price of $980,000, which includes $50,000 earmarked for tenant relocation.

Community Development Director Eric Thorvig said the acquisition follows work over the last two years to create a master development plan and financing agreements. He told council that $3 million from a recent tax increment financing bond issuance had been set aside to complete the three remaining parcel acquisitions in the redevelopment area. Thorvig said a counteroffer had been made to the seller, but the parties had not finalized terms in time; given timeline constraints tied to the redevelopment agreement, staff recommended moving forward with the purchase authorization so the city could draft and execute a purchase agreement and close within the developer’s schedule.

Council moved and approved the authorization by voice vote. Council Member Larson asked whether appraisal per‑square‑foot exceeded the purchase price; Director Thorvig said the appraisal was less than the purchase price and offered to report that detail to council. Council discussion included concern about relocation compensation and comparisons to other acquisitions discussed in closed session workshops.

The purchase resolution authorizes the mayor and city manager to execute required agreements to close and contemplates a lease renegotiation to allow the existing tenant to remain under a nominal rent while demolition and redevelopment scheduling are finalized.