The Park Board was first approached about selling the land in May and received an offer this month. The proposal was headed up by Dave Veeder, who is partner in a Residence Inn by Marriott franchise in Billings, Mont. Veeder proposed an offer of $345,000 for 5.62 acres. Park Board President Larry Grondahl said they counter-offered with $474,000. According to Grondahl, Veeder said they were still interested and would be in touch, but thought that was too much money.
After some discussion the board decided against the offer of $345,000, believing they should ask for at least $474,000, or just under $2 per square foot.
"Could we use $345,000? Yeah, but I think we'd be giving it away," Grondahl said.
Since selling the land became a real possibility, Grondahl said he's shown the land to real estate developers who say the park district is not out of line asking for $2 per square foot. He also expects to hear more interest in the property now that word is getting out about a possible sale. "I don't think they'll be the only people we hear from on this," Grondahl said about Veeder's group.
All the members of the board were open to the idea of selling the land but felt they should wait for a better offer. Grondahl said they spoke with other park districts in the state, and were told that frontage road property doesn't have many development possibilities for parks. The sale of 5.62 acres would still leave about six acres of undeveloped property for future expansion of Western Star Park.
"I think right now our committee would probably come out with a recommendation to sell," Grondahl said. "It's probably in the park district's best interest to begin to take a serious look at it (selling)."
Grondahl said he planned to meet with city commissioner Brad Bekkedahl soon and discuss issues concerning the property.
In other news:






Comments
Sell wrote on Jun 19, 2008 12:55 PM:
Sell the Land wrote on Jun 18, 2008 4:30 PM: