HomeMy WebLinkAbout20090406 - VIII-B-2
Memo
To: Mayor Hicks and City Council
From: John Hinzman, Planning Director
Date: April 6, 2009
SubjectResolution – Authorize Change in Sales Price: Hastings Industrial
:
Park Land
REQUEST
The City Council is asked to adopt the attached resolution reducing the sale price of
vacant Hastings Industrial Park land from $2.35 per square foot to $1.65 per square foot.
RECOMMENDATION
The Hastings Economic Development and Redevelopment Authority (HEDRA) voted 5-0 to
authorize the change at its March 12, 2009 meeting.
BACKGROUND
The City Council raised the Industrial Park land price from $1.35 to $2.35 on October 2,
2006. The change was based on an appraisal of land value conducted by Metzen
Appraisals.Market conditions have changed substantially since the appraisal, and the
land price is no longer supported by the market.
ATTACHMENTS
?
Resolution
HASTINGS CITY COUNCIL
RESOLUTION NO._________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HASTINGS
MODIFIYING THE SALES PRICE OF LAND WITHIN THE HASTINGS INDUSTRIAL
PARK
Council member _______________________ introduced the following Resolution and
___________________ moved its adoption:
WHEREAS
, The City of Hastings is the owner of various vacant parcels within the Hastings
st
Industrial Park generally located north of 31 Street and east of Highway 316, legally described as
follows:
HASTINGS INDUSTRIAL PARK NO. 1
HASTINGS INDUSTRIAL PARK NO. 2
HASTINGS INDUSTRIAL PARK NO. 3
HASTINGS INDUSTRIAL PARK NO. 4
HASTINGS INDUSTRIAL PARK NO. 5
HASTINGS INDUSTRIAL PARK NO. 6
HASTINGS INDUSTRIAL PARK NO. 7
AND
WHEREAS
, the City of Hastings desires to sell vacant lands for development of
Industrial\Commercial uses consistent with the Comprehensive Plan and Zoning Ordinance, and;
WHEREAS,
The market price for commercial\industrial land has decreased since the
establishment of $2.35 per square foot in 2006.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF HASTINGS AS FOLLOWS:
That the City Council hereby establishes a sales price of $1.65 per square foot for City land sold for
private development.
Council member __________________ moved a second to this resolution and upon being put to a
vote adopted by _____ present.
Ayes: ____
Nays: _____
Absent: ______
ATTEST: _______________________________
Paul J. Hicks, Mayor
Melanie Mesko Lee
City Clerk
I HEREBY CERTIFY that the above is a true and correct copy of resolution presented to and
th
adopted by the City of Hastings, County of Dakota, Minnesota, on the 6 day of April, 2009, as
disclosed by the records of the City of Hastings on file and of record in the office.
Melanie Mesko Lee
(SEAL)
City Clerk
This instrument drafted by:
City of Hastings (JWH)
101 4th St. East
Hastings, MN 55033