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fees) <br />-tax base (about $2,500 total per single family home, about 1/3 goes to the City) <br />- consumers (drive traffic to The COR) <br />- development of challenged site (history of no development interest) <br />- good sale price ($183,000, less CBRE commission* and closing fees, will result in little land proceeds --about <br />$170,000) <br />Alternatives <br />The City Council may approve, modify, or reject this proposed Purchase Agreement. Discussion of the price for the <br />property can occur in closed session. <br />Funding Source: <br />NA <br />Recommendation: <br />EDA Review <br />The EDA reviewed this case on 05/05/2016. Attached are draft/un-edited meeting minutes. The EDA recommends <br />the Council approve the attached Purchase Agreement, subject to: (A) adding a construction deadline, and (B) <br />adding a requirement for a development agreement to be approved by the City, before closing on this PA. <br />Action: <br />Motion to: <br />[approve/ amend/ deny] the attached Purchase Agreement with Lifestyle Construction Services LLC, subject to the <br />review and approval of the City Attorney. <br />Lifestyle Construction Services PA 05052016 <br />Letter from Buyer <br />Rendering (mock concept) <br />CBRE Listing <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Jo Thieling 05/05/2016 02:25 PM <br />Patrick Brama Patrick Brama 05/05/2016 04:36 PM <br />Form Started By: Patrick Brama Started On: 05/05/2016 02:02 PM <br />Final Approval Date: 05/05/2016 <br />