Agenda Item Title:
Approve Resolution 2017-090, A Resolution Declaring 108 E. Main Street Surplus and Appointing Freeholders to Appraise the Property
Origination Group:
Legal & Finance Committee
Origination Meeting Date:
10/11/2017
City Council Hearing Date:
10/16/2017
Petitioner:
Mayor Steve Allender
Staff Contact:
Wade Nyberg & Kelsey Sakos
Agenda Item Summary:
The Mayor requests consideration of gifting City-owned property located at 108 E. Main Street to the non-profit organization Rapid City Economic Foundation. Gifting this land will allow the Foundation to utilize existing structures for an Innovative District as well as creation of a new facility. Such a district will serve the city by aiding in retention and recruitment of SDSM&T faculty and students, while also serving as an entrepreneurial facilitator. In order to gift these lots to the Economic Development Foundation, the City first needs to approve a resolution to declare the property surplus, which will be followed by an appraisal of the property, memorialization of the donation through another resolution, and transfer of the deed. The legal description for the property is Ulland Outlot Revised, in the NE¼NE¼ of Section 1, T1N, R7E, BHM, Rapid City, Pennington County, South Dakota. The property contains approximately 4.52 acres.
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|
Recommendations:
Origination Recommendation Action:
Approve