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Borough introduces conveyance of five Homer parcels to support Kachemak Sponge stormwater project
Summary
The Kenai Peninsula Borough lands committee introduced Ordinance 2026‑16 to convey five borough parcels adjacent to the Homer Boat Yard to the City of Homer for less than fair market value to support the Kachemak Sponge stormwater mitigation plan; a public hearing is set for May 5, 2026.
The Kenai Peninsula Borough lands committee on Tuesday introduced Ordinance 2026‑16 to convey five borough‑owned parcels adjacent to the Homer Boat Yard to the City of Homer for less than fair market value to support the city's Kachemak Sponge stormwater mitigation project. The committee set a public hearing on the ordinance for May 5, 2026.
Mr. Hughes, who presented the proposal to the committee, said the city commissioned a 2022 appraisal by McSween Associates that valued each parcel at $31,250, for a combined total of $156,250. "McSween Associates . . . determined the value of each parcel to be $31,250," Mr. Hughes said during his presentation.
He told the committee the conveyances are described as "less than fair market value" because of direct comparables for borough parcel disposals in the area. He said the City of Homer has been awarded NOAH grant funding to secure the parcels and that the conveyance deed will include a restriction tied to that grant requiring the properties to remain in city ownership for the stormwater mitigation purpose.
The ordinance was brought forward by Mayor Michicky and Assembly members Cooper and Dunn. Committee discussion at the meeting was limited to the presentation; no vote was taken. The borough will hold the public hearing on May 5, 2026, when the committee may consider public comment and next steps.
