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| DATE:
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7/19/2016 7:00:00 PM |
| SUBJECT: |
| Council Consideration of an Offer to Acquire a Parcel of Land from Community First National Bank for the Expansion of the Boxelder Right of Way in the Amount of $14,652.72. |
| BACKGROUND: |
| Staff has been in negotiations with Community First National Bank, the owner of the Bank of the West, which is located at 520 East Boxelder, on Boxelder, to acquire some additional land to expand the right of way for Boxelder as part of the overall project to reduce the curve West of Highway 59. The attached offer sets the price of the right of way at $14,652.72 for roughly 1947 square feet. Part of the property is already within the dedicated right of way for the North access to the Powder Basin shopping center. The purchase price is calculated at $8.46 per square foot for the unencumbered 1517 square feet along Boxelder and $4.23 per square foot for the 430 square feet burdened by the dedication on the plat. A copy of the Offer is attached along with its exhibits which show the right of way parcel. |
| SUGGESTED MOTION: |
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I move for the Approval of an Offer to Acquire a Parcel of Land for $14,652.72 from Community First National Bank to Expand the Boxelder Right of Way.
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| STAFF REFERENCE: |
MAP/VIDEO
Charlie Anderson, City Attorney |
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