Minutes - Council - 02/16/2010 - Special

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RALF funds to purchase this. He noted the cancellation of the lease had a certain monetary value to it, which would be used as a contribution. Councilmember Look stated the only thing that concerned him was what the values were along the Highway 10 corridor. Councilmember Dehen stated on the RALF properties he wanted to look at those properties that wanted to sell and look for a potential bargain the City could have. He wanted to push for a willing buyer, a willing seller, and at a good price. He asked what was the rent currently being paid for the building. He indicated he did not want the City to be in the rental business. George Wells responded rent was about $9.00 per square foot. Marty Fisher stated rent was approximately $13.00 per square foot on a gross basis. Councilmember Elvig expressed concern about having an entity such as the EDA sponsor rent when the EDA would be paying for relocation anyway. He believed this would look like double dipping. He indicated there needed to be some reason for urgency.. Mr. Wells stated it was important for the business that the business moves before the start of their peak summer season. Mayor Ramsey stated he was inclined to move forward on this, but Council did not know if there was any money there. It was Council's consensus to go in with both properties initially. 4.02 Review Property Acquisition on Highway 10 Corridor City Administrator Ulrich noted that this meeting could move into closed session to discuss a real estate transaction. Motion by Councilmember Look, seconded by Councilmember Dehen, to move to closed session. Motion carried. Voting Yes: Mayor Ramsey and Councilmembers Look, Dehen, Elvig, McGlone and Wise. Voting No: None. Absent: Councilmember Jeffrey. The Special Council meeting moved into a closed session at 7:54 p.m. The closed session ended at 8:13 p.m. MAYOR, COUNCIL AND STAFF INPUT None Special City Council Meeting / February 16, 2010 Page 2 of 3