Council discusses potential reacquisition of former Fox property after developer failed to proceed

The council discussed the former Fox property and the city’s development agreement with 3 Chicks Rentals LLC, which required the developer to submit a site plan prior to Nov. 21, 2023. Staff reported the developer did not meet that requirement and has acknowledged they will not develop the site. The agreement and its April 2023 amendment leave a five‑year window during which the city may repurchase the property for the original price less city expenses.

Staff reported the fund that holds net proceeds from the prior sale has a balance of about $375,000–$376,000. Closing proceeds were roughly $475,000 and the difference (about $117,000) paid termination costs to the former leaseholder. Staff said they were raising the issue now to determine whether council wants to include a reacquisition appropriation in the fiscal‑27 budget. No formal action was taken; staff will follow up as council considers budget priorities.

A property owner who identified herself as Kelly asked whether changes to the city’s stormwater requirements since her purchase would affect redevelopment costs; staff confirmed there were ordinance updates in 2021 and again last year responding to state law changes and said runoff control cell sizes might be smaller under the revised rules. Council discussion touched on possible alternative sites and past outreach to a congressional representative regarding Army Reserve property.