Rexburg council OKs sale of city parcel at 1256 North 2nd East, accepts $822,400 bid with 36‑month development clause

The Rexburg City Council voted unanimously on Nov. 20 to declare its intent to sell city‑owned property at 1256 North 2nd East and to approve bid STRO7‑24, staff said.

At a public hearing under Idaho Code 50‑1402, city staff described the parcel as approximately 0.95 acres acquired with street funds to allow Second East widening and to provide a future path. Staff said the parcel includes a salvaged shop structure that will be repurposed for the streets department and that the city no longer needs to retain the land.

City staff told the council two bids were received; staff recommended approval of bid STRO7‑24 subject to standard conditions. Staff explained the accepted bid includes a 36‑month sunset clause requiring the bidder to begin construction within 36 months; if construction does not begin the city retains the right to repurchase the property at the original sales price. The city also reserved a 30‑foot easement on the east edge for utilities and vehicle access.

Council discussion confirmed the parcel had been marketed previously (a prior minimum bid around $350,000 drew no offers) and noted the city’s all‑in investment in the property is roughly $327,000, staff said. Council then moved to approve the bid; the motion was seconded and passed on a unanimous voice vote.

Next steps announced by staff include finalizing sale documentation consistent with the approved bid and the sunset/buyback provisions. No public testimony was offered for, neutral or against the sale during the hearing.

Authorities and procedural citations referenced in the meeting include Idaho Code 50‑1402 for disposition of city real property; the council opened and closed the required public hearing before voting.