Four residential lots owned by the city of Spring Lake Park are going on the market.
The Spring Lake Park City Council Dec. 17 voted unanimously to solicit sealed bids for the four properties, all of which are around a third of an acre.
In its approval, the council agreed with the Parks and Recreation Commission that the minimum price for each lot would be $70,000 and that homes would be required to be built on the properties within two years of closing.
The lots were appraised by the city assessor at between $70,000 and $80,000, said Assistant City Administrator Dan Buchholtz.
The city also retains the right to reject all bids, said City Attorney Jeff Carson.
Although he voted for the Dec. 17 motion, Councilmember Dale Dahl said at the Dec. 3 meeting that he thought the $70,000 was too high for the market.
But “I can’t see what it would hurt to put it out there,” he said Dec. 17.
The city plans to use the land proceeds to build a parks and recreation building.
If the lots were sold to a developer for $70,000 and based on a tax rate of 50.808 percent, the city could generate $355.66 per lot in taxes each year, Buchholtz said.
Tammy Sakry is at [email protected]