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CASE # <br />INTRODUCTION OF ORDINANCE DECLARING LAND AS SURPLUS <br />PROPERTY AND AUTHORIZING THE SALE OF LOT 1, BLOCK 1, GATEWAY <br />NORTH INDUSTRIAL PARK PLAT 2 <br />By: Sean M. Sullivan, Economic Development Coordinator <br />Background: <br />The City has acquired and prepared this site for redevelopment within the boundaries of Tax <br />Increment Financing District No. 2. Staff has been in negotiations with Tag Machine to construct a <br />10,000- 15,000 S.F. office /manufacturing building in 2008. Introduction of this ordinance starts the <br />process that would allow the City to convey Lot 1, Block 1, Gateway North Industrial Park Plat 2 <br />to a buyer. City Code requires that the City Council declare land owned by the City as surplus <br />property prior to selling it. Introducing and adopting this sales ordinance does not give Tag <br />Machine an exclusive right to purchase this property. This ordinance declares Lot 1, Block 1, <br />Gateway North Industrial Park Plat 2 as surplus property. <br />Funding Source: <br />Not applicable <br />Enclosure: <br />Proposed ordinance. <br />Recommendation: <br />Introduction of the proposed ordinance. <br />Council Action: <br />Motion to introduce Ordinance No. 08- which is an ordinance authorizing the sale of <br />Lot 1, Block 1, Gateway North Industrial Park Plat 2. <br />Review Checklist: <br />Interim Community Dew. Direct r <br />City Administrator <br />CC: 02.26.08 <br />—145— <br />