City moves to pursue purchase of two downtown parcels offered through Conn's bankruptcy estate

City staff told the commission that a bankruptcy-management firm representing Conn's has offered to sell two downtown parcels adjacent to the new city hall project, including Babcock Park and the Teresa Mattson lot, and the commission directed staff to proceed with negotiations and contract drafting.

The city manager said the estate's offer for Babcock Park was $60,000 and the combined asking price for both parcels was about $62,420. Staff noted the taxable value for Babcock Park is roughly $78,568 and that the estate's offer is near the property-appraiser-based value after applicable save-our-homes adjustments.

Commissioners and staff discussed practical next steps: title work and surveys, potential wetland constraints on the smaller lot, options to negotiate price, and the possibility of leasing the property temporarily through the CRA (Community Redevelopment Agency) or the city for $1 while title and due diligence proceed. The manager said he would take the commission's direction back to the estate, prepare contract documents (leveraging donation contract drafts where feasible), and expect an update within about two weeks.

Why it matters: The parcels are adjacent to the planned city hall and could provide parking or public gathering space downtown; acquiring them would require standard due diligence and could affect near-term development plans.

What comes next: Staff will seek surveys and title work, return with contract documents and any negotiation updates, and present any required purchase approvals or bond/finance items to the commission.

Direct quote: "They're offering to sell [Babcock Park] to us for $60,000," the city manager said. "We can counter the proposal if we like."