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<br />CASE # 5 <br /> <br />CONSIDER ACQUISITION OF LOT 1, BLOCK 1 PINEVIEW ESTATES 2ND ADDITION <br />By: Tim Himmer, City Engineer <br /> <br />Background: <br /> <br />The property owner has approached the City to discuss acquisition of Lot 1, Block 1 PINEVIEW <br />ESTATES 2ND ADDITION. The vacant parcel is contained within the corridor for a future north-south <br />road connecting the Town Center to Variolite Street. The property is 2.2 acres in size, and is currently <br />zoned PUD for the ability to have a business located on a residential parcel (live-work). <br /> <br />Observations: <br /> <br />The property owner is considering marketing the property and is.wondering whether the City would like <br />to entertain a purchase agreement prior to it changing hands and potentially having improvements built <br />on the site. Staff is looking for direction on whether we should advance discussions with the resident at <br />this time. The future roadway alignment is currently shown in the Comprehensive Plan, but there is no <br />time table for acquisition or construction within the 5 year CIP. A couple of factors to consider: ~ <br /> <br />. If acquired prior to being developed there would be no mark up from an unimproved condition or . <br />potential relocation costs if a business were to be operating on the site. <br />. The timing of the proposed improvements and funding source for the purchase. <br />. To what degree do we advance discussions (appraisal, negotiations, etc.)? <br /> <br />Staff is looking for direction on how best to handle this property owner request. <br /> <br />Recommendation: <br /> <br />Staff is recommending cursory discussions with the property owner on a reasonable value for the land <br />acquisition. <br /> <br />Action: <br />Based upon discussion <br /> <br />Attachments: <br />Location Map <br /> <br />Reviewed By: <br />Director of Public Works/Principal City Engineer <br /> <br />PW: 7/21/09 <br />