8/29/1983 - Laserfiche WebLink

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both outside the City limits, and the City has said that they prefer not to sell any property; they are willing however, to give a right of first refusal on the ten acres on a lease basis. Administrator Wright further noted that there is a production well on one tract, and if a'30 acre site were desired, that would have to be considered in the negotiations. Attorney Brandenburg confirmed that the City is not willing to sell the ten acres immediately south of the Graves tract, but they will extend a first right of refusal on a written agreement for 20 years. This is subject to City Manager Little checking with their engineer that building on that site would not adversely impact the City's wells. With respect to the 30 acres located between the clear zone which fronts on the east side of 43rd Avenue, they again would not sell this, but would give the County 20 acres under a 99 year lease for 1.0% of fair market value per year under FAA standard lease provisions and give a first right of refusal on the remaining 10 acres. With respect to the property on the west side of 43rd, the City again would not sell, but would lease 20 acres on the same conditions and give a first right of refusal on the other 10. One Councilman indicated he felt very strongly that area should be reserved for future use as a golf course, but there was a 3 to 1 vote in favor of extending the option to the County. The Administrator noted that all leases probably would contain an escalation clause. OMB Director Barton then evaluated leasing as opposed to outright purchase, stating that in all discussions with the Finance Advisory Committee, the initial step was to go to the voters asking them to wrap around the existing Beach Bond issue to come.up with two having a ten year level of debt service. He therefore, figured based on a ten year period to determine what the payment would be yearly to 17 Boor 54 PAA-95 �AU-G 2 9 1983