EDA debates options for underused properties; staff to return with cost estimate for cable house repairs

EDA members focused on the portfolio of city-owned properties and pressed for clearer direction on whether to list, rent, sell or hold assets such as the cable house. One member proposed a short-term rental as a pragmatic step to generate income while preserving the city's long-term options.

A member asked, "Could it be inappropriate for the EDA to direct or pass a resolution to rent the cable house, get it ready for rent as soon as possible, give a 1 year lease, and just go ahead and do it?" Staff replied they will obtain a cost estimate from public works for making the property rentable and return to the EDA in July with budget implications before any directive to council.

Members discussed the trade-offs: renting yields short-term revenue but may require upfront renovation costs (staff estimated an order-of-magnitude cost and said repairs could be in the low five figures), while selling would convert the asset to cash but is considered less reversible. Staff also noted potential relocation liabilities for tenants if the city later sells or repositions a leased property.

On the former fire hall, staff said the front half is used for public works storage and the back half is largely vacant; members proposed interim uses such as seasonal markets to generate revenue while longer-term plans are developed. Staff provided rough building sizes (staff stated about 7,500 sq. ft. at one point and later said 6,500 sq. ft.) and said they would confirm exact measurements.

Next steps: staff will get a public works cost estimate for cable house repairs and bring the costs and options back for a July discussion and a potential recommendation to city council.