Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Commercial Lots topic
No spam. Unsubscribe anytime.
EDA presses prospective buyer for financials before selling industrial-park lot
Summary
The EDA reviewed correspondence about a potential sale of an industrial-park lot and reiterated that any sale must follow the commercial-lots policy and demonstrate economic benefit; staff said the buyer has not provided required financial documents.
The board reviewed an email thread and a memo from Attorney Janssen about a potential purchaser of an industrial-park lot and agreed that the commercial-lots policy and any business-subsidy rules require documentation of economic benefit before a sale.
Amy summarized the correspondence and said, "It seems that they don't want to supply their financials," noting that staff has advised the city needs a clear proposal and fiscal information to justify any discounted sale or subsidy. Members stressed the city is not a realtor and must follow state statute and local policy when disposing of property.
Board members said staff should continue outreach but that there is currently no action to sell without the required documentation.
