Title
Action on Resolution 20-003, a Resolution authorizing the transfer of Real Property to Brookings Economic Development Corporation for Economic Development Purposes.
Body
Summary:
The Brookings Economic Development Corporation desires to purchase approximately eight (8) acres of real property described as a portion of Block Eleven (11) of Freeland Addition to the City of Brookings, for the price of Sixty-five thousand three hundred forty dollars ($65,340) per acre for a total of $522,720.
Background:
The Brookings Economic Development Corporation is tasked with the furthering economic growth and development within the City of Brookings. Furthermore, The Brookings Economic Development Corporation is delegated with selling, conveying or otherwise transferring property to businesses in efforts to expand the base in the City of Brookings.
Fiscal Impact:
Approximately eight (8) acres of real property for the price of Sixty-five thousand three hundred forty dollars ($65,340) per acre for a total of $522,720. Additionally, the developer will complete a drainage study and contribute towards stormwater improvements to a regional pond.
Recommendation
Recommendation:
Staff recommends approval.
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Attachments:
Memo
Resolution
Map