6.11 EDSR 01-21-2014 El of
Request for Action
River
To Item Number
Economic Development Authority 6.11
Agenda Section Meeting Date Prepared by
General Business January 21, 2014 Jeremy Barnhart, Deputy Director, CODD
Item Description Reviewed by
Consider conceptual sale of lot 1,block 2 of
Natures Edge Business center to Morrell Trucking Reviewed by
to facilitate expansion
Action Requested
Direct,by motion with regard to the sale of Lot 1,Block 2 of the Natures Edge Business Center to
Morrell Trucking.
Background/Discussion
Terry Morrell has informally approached staff regarding the purchase of Lot 1,Block 2 of the Natures
Edge Business Center immediate adjacent to their existing facility on 1715`. Mr. Morrell would use the
property to facilitate expansion of their operations.
The sale of the property for this use would require amendments to the zoning ordinance as the property
is currently zoned Business Park. Additionally, the FAST study identifies the subject property as "Transit
Center"which envisions ground level retail/ office/ industrial and upper level office/ residential in 2-3
story buildings. The expected use would depart from this vision. Mr. Morrell has indicated that the
expansion would facilitate additional jobs in the area.
Since the EDA is tasked with facilitating the sale of parcels within the Natures Edge Business Center,
would review any financing applications, and modifications to the regulatory controls would be required,
staff felt it appropriate to review the use in concept,prior to full details being developed. The sale of the
parcel could help facilitate modifications to site circulation, addressing some issues identified.
The EDA has established a price of 2.00 per square foot, or$355,449 for the 4.08 acre parcel.
Financial Impact
The EDA has established a price of 2.00 per square foot, or$355,449 for the 4.08 acre parcel.
Attachments
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