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CASE <br /> <br />By: <br /> <br /> Acquisition of 14140 Azurite St NW <br /> <br />Senn Sullivan, Economic Development / TIF Specialist <br />William Goodrich, City Attorney <br /> <br />Background: <br /> <br />Staff has been directed by the EDA to facilitate development and redevelopment activity <br />and to acquire properties in the City's Development District No. 1 as wiling sellers put <br />their properties on the market. Recently the property located at 14140 Azurite Street NW <br />was put up for sale on the open market. Staff has obtained an appraisal and an <br />environmental assessment of the property and has presented an offer of $169,900 for the <br />property contingent on City Council approval. The acquisition of this property would be <br />funded through TIF District No. 2 with the possibility of receiving additional funding <br />from the EDA. Staff feels that the acquisition of this property is consistent with the <br />development program of TIF district No. 2 and will promote quality development on the <br />site. Staff has advised the owner of possible relocation qualification and benefits. As of <br />this writing, the owner has not indicated their position on the relocation issues. Staff is <br />requesting that the City Council approve the attached purchase agreement for the subject <br />property <br /> <br />Recommendation: <br /> <br />Staff recommends that City Council accept the attached purchase agreement and to <br />purchase 14140 Azurite Street NW. <br /> <br />Council Action: <br /> <br />Approve attached Purchase Agreement and acquire 14140 Azurite St NW. <br /> <br />Reviewed by: <br />City Administrator <br /> <br />CC: 07/27/04 <br /> <br /> <br />