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Council reviews Yismont property appraisal, declines to pursue proposal
Summary
Council heard a review of a potential city acquisition of the Yismont property — appraised at $1,900,000 with estimated repair costs over $5,000,000 — and the committee declined to recommend making a proposal to the Department of Corrections.
The council received a detailed briefing on a state-owned parcel known as the Yismont property and did not move to pursue an acquisition.
The mayor presented the review, saying the buildings and roughly 29 acres were appraised at $1,900,000, but repair estimates exceed $5,000,000. "The property buildings and 29 acres of land were appraised at 1,900,000, but the repair costs are estimated at over 5,000,000," the committee report said. After discussion of costs, benefits and liabilities, the Hoover Committee did not recommend that the city submit a proposal to the Department of Corrections.
Council members discussed the financial and practical implications; no motion to proceed was made and the item was noted as informational. Staff indicated the report was for awareness and that there would be no further action unless the council directed otherwise.
