City Council July 9, 2019.

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Presentation transcript:

City Council July 9, 2019

Resolution for Deferrals Properties with improvements that are functionally or financially obsolete; with improvements that do not significantly contribute to the overall value of the property; Properties that have not been improved with improvements that are consistent with the property’s guided highest and best use under the comprehensive plan; including non-conforming properties Properties that are vacant Other deferrals as allowed under state statues 435.193 and city code 34.38 Senior citizens Military Disabled Green Acres

Original request- contract for deed with 4% up to 20 year pay-off Property 3 (32.67 ac) -$19,000/acre Property 4 (19.3 ac) -$21,000/acre Property 5 (16.7 ac) -$21,000/acre Property 6 (38 ac) -$23,000/acre Council previously considered $16,000 ac Could pay over 20 years Propose 2.75% interest $1,363,840 based on net 85.24 acres With 20 year payoff at 2.75% - $88,000/yr At $18,000 acre- $1,516,320- $99,000/yr CIP includes payment of land for sports complex -$150,000 starting in 2019.