We will call to order the August 6th, 2025 meeting of the Shakabi Economic Development Authority.

Please make note of the role.

And we will move on to approval of the agenda item two.

I'll make a motion to help the agenda.

All right.

We have a motion by uh member Contreras.

Was there a second?

Second.

Second by Member Delaney.

Uh, all in favor.

Aye.

Aye.

Any opposed.

We have an agenda.

Uh first item of business, night of item three is the purchase and sale agreement for 124 Somerville Street South.

Mr.

Kursky.

Chair and board members.

So as the chair mentioned, this is a discussion about purchase of property for redevelopment on Somerville for 150,000.

This is the particular building in discussion.

If you remember, um, this was an automotive shop and it's been a small engine repair place.

Um the current owner, five or six years ago, I think, um, had some issues.

Um, and got to know me through that process in the city administrator.

He is now not well.

Um at that time he had gone through some serious health issues, and now he's kind of on his way out.

So he called remembered all of those discussions back five or six years ago and called me and basically said I don't want to put this in the market.

Uh just make a reasonable offer, and I just want to get this over with because I don't have the time or the energy, and I'm going to be leaving soon.

So he offered to sell this to the city for 150,000.

It's probably the last blighted property that's downtown.

Um, it's an opportunity we can look to see whether it is or could be rehabbed, or it's also it's a great site next to a parking lot where we've made substantial investment.

Questions, Mr.

Laura?

It's more of a comment um than a question.

Um, so after reviewing this, I just the one thing that stood out to me was um long neglected.

And I just I understand that the 150,000 is a lot less than what the current um uh tax assessed value is.

But I mean, if it's something that we're gonna be acquiring, um, in my opinion, I feel that the what I would move be comfortable with moving forward with is uh just the sale price of the uh land value if we're gonna be tearing this building down.

Um, and keep this in mind too we're gonna have to pay to demolish this.

Who's gonna pay for that?

So that the the difference could be made up in that point.

So I I'm only gonna be comfortable with this by offering the the land value if it's a building we're gonna be tearing down anyways.

I mean, the it's i I could neglect my home, and then the city says, hey, we need to be um buy my home so you can demolish it.

Like it just I I chose to neglect it.

I don't know the whole details of this, but it just doesn't sit well that we should just I I get he's gonna get half of what it's worth, but put it on the market and see what happens.

I just that's I just where I'm comfortable with.

Understood, Mr.

Delaware.

Similar concerns.

My concern is it's a small engine repair shop.

Over the years, environmental regulations change for how chemicals can be used and disposed of.

And my concern is we're you'll buy this, and there's gonna be some cleanup effort required because of again if it's kind of fallen into disrepair, and again regs change over the years for chemical use.

We may be spending 150 and spending additional to clean up with demolition.

So so mayor and counsel, the purpose of the EDA is to take on the difficult projects.

Um we have over the past 10 or 15 years bought a lot of difficult properties, to say it nicely, and have either clean them up, moved them on, tore them down um the lot that potentially where the hub is gonna go.

That was a gas station site that was highly contaminated, had sat there for years and became a blight.

The city purchased that, worked with the state on the cleanup and now has that land available.

The whole purpose of the EDA is to take on the difficult projects that are adding blight to the community, and this certainly qualifies that.

This building, I've been here nine years, is in about the same shape.

I think when the guy bought it, it was in the same shape.

Um it's just a difficult building, and this is an opportunity.

It's right across the post office, so it's seen by just about everybody downtown to really either get it fixed up or cleaned up and sell the site to somebody who's gonna redevelop it.