6.2 EDSR 10-20-2014 El Request for Action
River
To Item Number
Economic Development Authority 6.2
Agenda Section Meeting Date Prepared by
General Business October 20, 2014 Jeremy Barnhart, Deputy Director, CODD
Item Description Reviewed by
Authorize Appraisal for EDA property
Reviewed by
Action Requested
Authorize, by motion,an appraisal of EDA property:
Natures Edge Business Center, second addition
Fox Haven Commercial
Background/Discussion
Natures Edge Business Center second addition
The known costs of Natures Edge Business Center have been determined and construction is underway.
In order to best position the lots for sale, staff recommends the completion of an appraisal, to best
determine market rate for the two industrial and three commercial lots. An appraisal was completed for
the 1"phase,in 2012.
Fox Haven Commercial
Since acquiring the Fox Haven Commercial property in September, the asking price for the lots has not
been determined. Staff suggests completing an appraisal. Alternatively, the asking price could be in the
$2.25 to $3.45 range, consistent with similar lots in the County.
Financial Impact
Each appraisal is expected to cost about$5,000, coming from Other professional services line item,
reducing Brand Plan implementation.
Attachments
• None
FP-011E11E11 D1'
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