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Committee member raises funding concerns over proposed property acquisition
Summary
At a meeting in the chambers, a committee member voiced support for acquiring a property but said estimates for the purchase price varied widely (speaker cited figures from about $13 million to as much as $100 million) and asked which budget line would cover the cost; members requested more information before taking further action.
A committee member urged caution on a proposed property acquisition, saying the city still lacks clarity on the price and funding for the purchase.
"We're getting anywhere from $13,000,000 to acquire it," the committee member said, adding that she had also heard figures as high as "100 mil." She asked which budget line would fund the acquisition and warned the city could face additional, unspecified costs tied to converting the property to industrial use.
The exchange underscored uncertainty about the scale of the project and how it would affect the city's finances. The committee member said she supported the concept of acquisition but wanted clearer, itemized cost estimates and a stated funding source before committing. "It's still a cost to the city, so I'm trying to look at what the future will look financially once acquiring this property," she said.
A different speaker who spoke earlier described an amendment intended to create a working group to provide oversight of remediation efforts; that speaker urged deferring acquisition "absent further information." Members asked staff to provide additional fiscal detail and building-code implications before advancing the matter.
No explicit final vote on the acquisition was recorded in the transcript excerpt provided; members continued to discuss related agenda items and other business. The record shows follow-up requests for a clearer cost estimate, an accounting of likely additional costs tied to redevelopment, and the specific budget line that would be used to fund any purchase.
