Title
Discuss and consider action regarding sale of real property located at 102 South Third Street to the highest responsive bidder.
Summary
On January 10, 2012 the City Council passed a resolution declaring the city property at 102 SouthThird Street as surplus and authorized the sale of the property by sealed bid. A copy of that resolution is attached to this agenda item. A market value appraisal for the property as a commercial use determined the value estimate of $205,000. City staff developed a Notice of Potential Sale and Request for Bid for Sale which included a minimum price of $164,000. That notice was advertised in both the Austin American Statesman and the Pflag, placed on the City's website and distributed through the Pflugerville Chamber of Commerce. It is included as an attachment to this agenda item. Signs were also placed at the property.
The City received one bid for this property from Mr. Jeff Coleman in the amount of $165,250. The City Attorney has reviewed the documents that were submitted with the bid and has found the bid responsive.
Deadline for City Council Action
There is no deadline for action on this item.
Fiscal Impact
Proceeds from the sale of this property will be deposited to the General Fund for use by the City.
Staff Recommendation
Discuss the item and take action, as appropriate.
Drafter
Lauri Gillam
Assistant City Manager