Focus Area: Economy
Staff Contact: Dianna Wright/Ron Shaver
Subject: Authorization for the acquisition and improvement of certain land and public facilities and providing for the issuance of General Obligation bonds for Project No. 8-C-002-21.
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Item Description:
title
Consideration of Resolution No. 21-1023 authorizing the acquisition and improvement of certain land and public facilities and providing for the issuance of General Obligation Bonds to pay for the costs for Project No. 8-C-002-21.
Body
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Summary:
The acquisition of properties located at 1490 and 1432 W Ironwood (attachment B) will provide the City the opportunity to add 55,092 square feet of building space for utilization by various departments. This location is adjacent to the Robinson Campus which will enhance functions and efficiencies. In addition to the improvements at these locations the City will maintain certain personal property items on the site to be utilized by staff. The purchase price for the buildings totals $5,300,000 with an estimated $700,000 for renovations necessary for City uses.
In addition to these facilities, the City will acquire four parcels totaling 2.82 acres (attachment C). These parcels connect to the existing HHW facility and provides the opportunity to expand operations when needed. The purchase price of the four parcels is $461,032.
General Obligation Bonds are requested in an amount not to exceed $6,500,000 for:
Acquisition of 1490 & 1432 W Ironwood $5,300,000
Estimated renovation costs $ 700,000
Acquisition of 4 parcels $ 461,032
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Financial Impact:
Funding for project 8-c-002-21 includes the issuance of general obligation bonds in an amount not to exceed $6,500,000.
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Action Needed:
Approve Resolution No. 21-1023
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Attachment(s):
A. Resolution No. 21-1023
B. Map of 1490 W Ironwood and 1432 W Ironwood
C. Map of parcels