Agenda - Economic Development Authority - 12/11/2014

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Economic Development Authority (EDA) Meeting Date: 12/11/2014 By: Patrick Brama, Administrative Services Title: Consider New Policy for the Sale of City Owned Land 4. 2. Purpose/Background: Purpose: With the recent dissolution of the Ramsey HRA, it was recommended by the Council that the City consider a new policy for selling City -owned land. This policy outlines the Ramsey EDA's role in the sale of City -owned land. Background (HRA Dissolution): The City Council has officially dissolved the Ramsey Housing and Redevelopment Authority (HRA). On November 12, the HRA passed a resolution to transfer all HRA assets to the City and to dissolve the HRA (attached to case). HRA assets include a large inventory of City -owned land located within The COR. On December 09, the City Council held a public hearing to dissolve the HRA. Remaining tasks to complete the HRA dissolution are administrative (i.e. transfer of title and agreements). Background (Policy): Attached to this case is the proposed policy. The intent of this policy is to route all land sale transactions through the EDA for a recommendation to the City Council. This policy is intended to be flexible, to account for special/market circumstances. Included in this policy is updated language from the City's previous policy for selling City -owned land; which was called a disposition policy (concentrated on previous park land). In summary, this policy covers three major areas: governance, processes (surplus city owned land, marketing, sale), and required terms/conditions for purchase agreements. What's Next? The City Council will consider this policy and EDA recommendations in January. Notification: Observations/Alternatives: NA Funding Source: NA Recommendation: Provide feedback and suggested amendments to the attached draft policy. Action: NA Attachments Policy for the Sale of City Owned Land (DRAFT) HRA Owned Parcels