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Member Hardin asked if the value of the structure is known. <br /> <br />Deputy City Administrator Gladhill explained that he would not believe that the structures would <br />have much value. He explained that the purpose of the purchase would be to remove blight in <br />the corridor. <br /> <br />Member Hardin asked for information on recent sales adjacent to this parcel. <br /> <br />Deputy City Administrator Gladhill provided an update on the adjacent parcels which are <br />currently listed for sale (and have been for some time) and/or may have been purchased recently. <br /> <br />Member Hardin asked about the offer that was previously placed on the bookstore location, <br />believing that it was around $2 per square foot. <br /> <br />Economic Development Manager Sullivan was not sure what the offer was for that site for the <br />previous project. (Staff later identified the offer to purchase was at $2.33 per square foot) He <br />stated that the previous bookstore location that is owned by the City has some challenges <br />because the site does not have access to storm water system and the size of the site seems to limit <br />the onsite storm water treatment options available. <br /> <br />Chairperson Steffen asked when the realignment of Highway 10 would be known. <br /> <br />Deputy City Administrator Gladhill stated that the City hopes to have a much better sense of the <br />alignment within the next two years. <br /> <br />Chairperson Steffen asked if the City would remove the building, clean up the site and put it <br />back on the market if the site is ultimately not needed for the highway project. <br /> <br />Deputy City Administrator Gladhill confirmed that to be true. He noted that the site would most <br />likely be occupied by another business at that time looking for additional space. <br /> <br />Chairperson Steffen asked how long the property has been listed on the market. <br /> <br />Deputy City Administrator Gladhill confirmed that the property has been on the market listed for <br />sale for multiple years. <br /> <br />Motion by Member Hardin, seconded by Member Cords, to recess the meeting to Closed Session <br />at 7:51 a.m. <br /> <br />Motion carried. Voting Yes: Chairperson Steffen, Members Hardin, Cords, Burandt, and Riley. <br />Voting No: None. Absent: Member Kuzma. <br /> <br />The meeting reconvened to Open Session at 8:05 a.m. <br /> <br />Economic Development Authority/ March 12, 2020 <br />Page 3 of 4 <br /> <br />