ENM working on contract for sale of property

The Elko New Market City Council considered two offers on city owned property, Dakota Acres, at its Monday, June 26, meeting. The council considered a letter of intent from NorthCo Development LLC and a purchase agreement from Avant Private Communities. The council debated the two offers during a nearly 40 minute closed meeting. Their decision was to direct staff to work out a contract with NorthCo Development LLC.

The city’s Community Development Specialist Renee Christianson and City Administrator Tom Terry presented the information from the two groups. Christianson also detailed the property; the city owns 13 platted townhome lots, two outlots containing a total of 5.29 acres and a single-family lot.

During the past three months, city staff has been in discussions with multiple builders and developers that have shown interest in the total property or portions of it. In April, city staff presented four scenarios to the council to help it make an informed decision. The four were:

• Scenario A: Finish the currently approved townhome development that would include 63 additional townhome units. • Scenario B: Reconfigure the development to include additional townhomes, plus an approximate 51-unit market rate apartment type rental building.

• Scenario C: Construct 13 additional townhome units and construct a (mixed) independent living, assisted living and memory care — similar to the project previously considered by Fire Ground Architects.

• Scenario D: Construction of a 90-unit (mixed) independent living, assisted living and memory care building, construction of a 112-unit market rate apartment building, and construction of a 6,500 square foot restaurant building — similar to the development under consideration by Avant Private Communities.

While the council was open to all the scenarios, it expressed an interest in B.

NorthCo Development LLC’s offer included purchasing the 13 existing platted townhome lots and the single-family lot for $97,000, purchase a portion of outlot C, consisting of approximately 2.1 acres for $150,000 and have a 60 day review period.

Council member Josh Berg asked....

To see more on this story pick up the July 6, 2017 print edition of The New Prague Times. 

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