ITEM TITLE:
#25-53 - Authorizing the Negotiated Sale of Lots 4A, 6-7, and 9B, Block 33 Mineral Creek Subdivision, Formerly Known as the Pipeline Club Property
SUBMITTED BY: Nathan Duval, City Manager
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
Approve Resolution #25-53 Authorizing the Negotiated Sale of Lots 4A, 6-7, and 9B, Block 33 Mineral Creek Subdivision, Formerly Known as the Pipeline Club Property
SUMMARY STATEMENT:
The attached resolution authorizes the City Manager to enter into negotiations for the sale of the Pipeline Club property with interested parties and provides parameters for a sales agreement and development milestone.
The City has attempted to dispose of the property on two previous occasions via requests for proposals and has been unsuccessful in completing a transfer of ownership.
Discussion with the Council on October 21st of this year indicated an appetite to explore a negotiated sale with an interested party. Should negotiations with the party not be successful, the City Manager will initiate negotiations with other known or potentially interested buyers.
Ultimately, Council will have the final authority to approve a sales agreement and corresponding development plan.
Passage of this resolution requires an affirmative vote of 6 councilmembers pursuant to Valdez Municipal Code 4.04.070.