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ALTERNATIVES AND ANALYSIS <br />Communication with both property owners has occurred. The <br />management company handling Site #1 for the Resolution Trust <br />Fund is trying to sell the entire Moon River Project which <br />includes Site #1. It has been communicated to staff that a <br />contract to purchase the property is pending and may be <br />executed by buyer and seller prior to June 1, 1992. There <br />- does not appear to be interest by the RTC to sell just the <br />3.8 acre site west of Jungle Trail at this time due to the <br />pending contract. If the contract is not executed, BEI Ritz <br />Property Management will contact the Public Works Dept. and <br />investigate selling the parcel to the County. The proposed <br />buyer of the property has met with County staff and is <br />interested in selling the property --to the County for <br />monetary compensation or possibly in exchange for the County <br />stabilizing the Moon River projects river frontage. The <br />developer has commitments to stabilize the shoreline under <br />the County's Development Order. <br />Dan Pruess, one of the owners of Site #2, is of the opinion <br />that the appraised value of $153,000 does not consider <br />additional access to the property that has been acquired. <br />The property owners of Site #2 have offered to sell the <br />parcel to the County at $235,000. <br />The alternatives are as follows: <br />Alternative No. 1 <br />Since Site # 1 has better access to Jungle Trail due to <br />it's greater frontage, staff recommends acquisition by <br />negotiation, if possible, with the potential new owners <br />if the contract is closed. Since the RTC has taken <br />control of the property, there does not appear to be <br />any motivation at this time by the RTC to sell to the <br />County Site No. 1. At this time, the recommended <br />procedure would be for the County to extend a formal <br />offer to the new buyer to purchase the property for <br />$160,500, (appraised value) or in exchange for the <br />County stabilizing the Moon River shoreline. Counter <br />offers would be brought to the Board for consideration. <br />If no interest to sell is communicated, staff would <br />recommend acquisition by Eminent Domain. If additional <br />acreage is desirable to provide approximately 15 <br />additional spaces, Site No. 2 is recommended for <br />purchase. <br />Alternative No. 2 <br />If either property does not agree to sell for the <br />appraised value, cease negotiations and search for <br />suitable property elsewhere along Jungle Trail. <br />RECOMMENDATIONS AND FUNDING <br />Alternative No. 1 is recommended. Funding in the amount of <br />$150,000 to be from Fund 004-214 (Road & Bridge MSTU) and <br />the Park Development Fund 113 (current balance is <br />approximately $200,000) or MSTU Contingencies. <br />51 <br />APR 141 <br />000K �'r�, <br />