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Posted: March 23, 2018
Rapid City
Agenda Item Summary

Agenda Item Ref. #: PW032718-18

Agenda Item Title:

Approve Resolution 2018-029, A Resolution to Declare Property Located on Mondo Street Surplus and Appoint Freeholders to Appraise the Property for Sale

Origination Group:
Public Works Committee
Origination Meeting Date:
03/27/2018
City Council Hearing Date:
04/02/2018
Staff Contact:
Wade Nyberg
Agenda Item Summary:
This lot, located southeast of Rapid City near the Water Reclamation Facility, was acquired from the Terracotta Estates Homeowners Association in 2016. The lot contained a well which provided water for the subdivision prior to the East Rapid City water expansion project. The well lot was purchased when the City paid the back taxes to satisfy outstanding tax sale certificates to redeem the property for the HOA. This allowed the water expansion project to proceed, added security for the SRF funding package to finance the project, and ended with abandonment of the well. Public Works plans to list the lot for sale to recoup as much of the cost of the lot as possible.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve
Published in 2018 PW Agenda Items
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