|PROPERTY OFFERED FOR SALE|
FINANCIAL TEAM MEETING 10-19-16 LMS
The city has been offered the property where History Park resides and the offer was first discussed by the cityís Finance Team.
The team met on October 12 and topics of the meeting were reported to the Salmon City Council by team Chairman/City Councilman Jim Bockelman.
He said all city departments did well at staying within budgets in September. The General Fund has a $10,000 positive balance of revenue over expenditures for the year and the Water Department has $300,000 revenue over expenditures due to changes made in the use fees between the Water and the Sewer Departments. Local Option Tax collections so far this year total $98,000 without the September taxes. Bockelman said that is the highest amount collected so far.
He also said the water line under the river is now visible and there may be a need for the council to discuss any appropriate actions.
A purchase price of $10,000 and right-of-first-refusal offer was presented to the Finance Team by Tom McFarland representing the Maude and T.R. Benedict Trusts. On October 19 McFarland explained the logistics of the offer to the full City Council.
The History Park property is located between the Lantern Bar and the Shoup Building and is approximately 3,000 square feet in size. McFarland said the Trusts want to sell the Main and Center Street properties and would prefer that the city buys History Park since it is such a positive addition to the city.
The properties encompass what is known as the Cornerstone Building more commonly known as the Shoup Building built in the 1800ís by Idaho Territorial Governor George L. Shoup. McFarland said the properties are zoned RP (Rural Protection) and include the Cornerstone Building as well as the Salmon Valley Stewardship and Lemhi Regional Land Trust offices. They would like to sell each property separately and McFarland will be talking with Planning and Zoning Administrator Gary Goodman to discuss what directions are available for the best zoning options.
As far as financing he pointed out that under the current yearly tax reimbursement lease agreement, the city pays the trusts just over $400 a year for use of the land. He said in the past five years the city has paid approximately $2200. Council President Jim Baker commented that if payments on the property purchase could be negotiated to equal the current amount the city pays for the yearly tax reimbursement, in 20 years the city would own the History Park property instead of expending the same amount of money and not owning the property.
Another logistic is water and sewer for the History Park. Public Works Superintendent Harry Shanafelt discussed the various options in the event of a sale.
The council decided to table the subject until more costs are researched.
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