Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Land Sale topic
No spam. Unsubscribe anytime.
Council approves sale of former school parcel; city to split profit with school district
Summary
Council approved sale of approximately 10 acres (purchased from the Canyon School District) to Draper Highland LLC for $8.5 million; after closing costs, proceeds (~$2.65M profit) will be split approximately equally with the school district as required by the prior agreement.
A consultant reviewed the proposed sale of roughly 10 acres the city acquired from the Canyon School District. The city originally paid ~$5.85 million; the council was asked to approve sale to Draper Highland LLC for $8.5 million. Under the prior arrangement with the school district, profit from the sale (approximately $2.65 million) will be split roughly 50/50 — about $1.325 million to each party — after closing costs and consultant fees.
The consultant said the developer’s plan meets the rezoning conditions (0.5-acre single-family lots) and includes private roads and regional stormwater detention design. Council members expressed regret that no feasible cemetery proposal surfaced in the bids and confirmed staff will continue to seek an alternate cemetery site. Motion to approve the resolution passed unanimously, 5–0.
