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the state are minimum wage, while almost 50 percent of the jobs created every year would <br /> qualify residents for the housing provided in phase two of Greenway Terrace. <br /> Mayor LeTourneau stated that it would seem that this housing product would create a housing <br /> opportunity for those that work within the community and those residents would also spend their <br /> funds within the community. <br /> Councilmember Kuzma asked how the Purchase Agreement could be reopened, or the next steps <br /> that could be taken. <br /> Deputy City Administrator Gladhill reviewed the steps that could be taken to extend the <br /> Purchase Agreement or create a new Purchase Agreement. <br /> Mayor LeTourneau asked the policy related to City owned land. <br /> Deputy City Administrator Gladhill explained that there are multiple policies related to City <br /> owned land and provided different examples. <br /> Mayor LeTourneau asked for specific information related to land owned by the City within or <br /> adjacent to The COR. <br /> Deputy City Administrator Gladhill stated that the goal has been to sell the land within The COR <br /> that fits within the City's vision and that would add value to the community. He stated that he <br /> could provide additional information to the Council but noted that it would come down to the <br /> priorities of the Council. <br /> Mayor LeTourneau stated that in his experience the policy has been to sell land at a cost within a <br /> specified range developed by the City in order to recoup the costs the City paid for that land. He <br /> stated that this sale seems to follow the guidelines the City developed, would move the property <br /> back onto the tax rolls, and would allow the City to continue to move towards its development <br /> goal. <br /> Councilmember Musgrove stated that it appears the action before the Council would be related to <br /> the default and asked if the Council would simply be providing direction related to the next <br /> steps. <br /> City Administrator Ulrich stated that the action before the Council would be related to the <br /> default but noted that there are alternatives available to keep the project alive under the current <br /> contract. He noted that this project could also come back through a new Purchase Agreement, <br /> which would be a separate and distinct process. <br /> Mayor LeTourneau stated that this is partly driven by the request of the applicant to continue to <br /> work under the current Purchase Agreement. <br /> City Council/January 14,2020 <br /> Page 6 of 16 <br />