Agenda Item Title:
Authorize Mayor and Finance Director to Sign Purchase Agreement to Purchase Property at 5430 Sheridan Lake Road in Rapid City to be Used for a new Police Precinct, for a Total Cost of $1,655,000 from Security First Bank
Origination Group:
Legal & Finance Committee
Origination Meeting Date:
02/02/2022
City Council Hearing Date:
02/07/2022
Staff Contact:
Don Hedrick, Chief of Police; Justin Williams, Assistant City Attorney; Dale Tech, Public Works Director
Agenda Item Summary:
The City Council designated funds in its October 18, 2021 meeting to purchase the land and building on the corner of Catron Boulevard and Sheridan Lake Road from Security First Bank to be used as a new Police Precinct building. The purchase amount was determined by appraisal. This purchase originally came about due to the upcoming Sheridan Lake Road widening project, which requires the City to purchase easements and rights-of-way on property along Sheridan Lake Road. When staff approached Security First Bank, they indicated they had plans to build a new location and no longer wished to own this property. The Police Department had been looking for a suitable location for a precinct in southwest Rapid City for several years and this location and building fits the need well.
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|
| CIP | Government Buildings |
Is Funding Budgeted?:
Budgeted
Recommendations:
Origination Recommendation Action:
Approve