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INTRODUCTION OF AN ORDINANCE AUTHORIZING THE SALE OF <br />LOT 2, BLOCK 1, SUNFISH LAKE BUSINESS PARK FOURTH ADDITION <br />By: William K. Goodrich, City Attorney <br />Sean M. Sullivan, Economic Development Coordinator <br />Background: <br />The City has acquired and prepared this site for development within the boundaries of Tax <br />Increment Financing District No. 10. Staff is negotiating a development agreement with a large <br />printing company to construct a 50;000 S.F., with the opportunity to expand to 80,000 S.F. <br />Introduction of this ordinance starts the process that would allow the City convey title to: LOT 2, <br />BLOCK 1, SUNFISH LAKE BUSINESS PARK FOURTH ADDITION, to a buyer. City <br />Code requires that the City Council to declare land owned by the City as surplus property prior to <br />selling it. Introducing and adopting this sales ordinance does not give this printing company <br />exclusive rights to purchase this property. This ordinance declares LOT 2, BLOCK 1, SUNFISH <br />LAKE BUSINESS PARK FOURTH ADDITION as surplus property. It is anticipated that Staff <br />will bring a Development Agreement to City Council in November to finalize the terms and <br />conditions of the development for this parcel <br />Funding Source: Not applicable <br />Enclosure: <br />Proposed ordinance <br />Recommendation: <br />Introduction of the proposed ordinance <br />Council Action: <br />Motion to introduce Ordinance No. 07 which is an ordinance authorizing the sale of <br />LOT 2, BLOCK 1, SUNFISH LAKE BUSINESS PARK FOURTH ADDITION <br />Review Checklist: <br />Community Developme <br />City Administrator <br />CC: 10.09.07 <br />CASE # . / 3 . <br />