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City approves $2.1375 million purchase of 5.71 acres from Top Line Auto Sales for water division expansion
Summary
Council approved a purchase and sale agreement to acquire 5.71 acres at 2550 Ponkruil Way from Top Line Auto Sales for $2,137,500 to expand water division facilities; the acquisition will be funded from the water division's capital funds.
The Idaho Falls City Council approved a purchase and sale agreement to buy 5.71 acres at 2550 Ponkruil Way for $2,137,500 from Top Line Auto Sales to expand space for the water division.
Staff said the water division is outgrowing existing administrative and storage space along Hemet Avenue and that the property is immediately adjacent to city-owned land. "The total cost of purchase is $2,137,500 which will be funded through the water division," staff told the council, noting the buy will allow the city to design a new administration building and consolidated storage area.
Councilors questioned how the property would be used and whether capital funds were already saved for the administration building; staff explained the capital funds were part of a long-term plan and that the city negotiated to secure a fair market price.
Council moved, seconded and approved the purchase agreement and authorized the mayor and city clerk to sign the necessary documents. Staff said the property closes subject to the contract addenda and standard closing procedures.
