Memorandum

City of Lawrence

City Manager’s Office

TO:	David L. Corliss, City Manager
FROM:	Diane Stoddard, Assistant City Manager
DATE:	December 8, 2014
CC:	Casey Toomay, Assistant City Manager
RE:	Cornerstone Land Purchase Request

Please place the following item on a future City Commission Meeting agenda:

Approve request from Cornerstone Plaza, LLC to purchase a ½ acre Lawrence VenturePark property currently leased to them, located north of 2004 E. 23^rd Street. Authorize the Mayor and City Clerk to execute the necessary documents to sell the property at $1.19 per square foot, for a total of $25,894.40 ($21,760 was offered previously).

Background and Discussion:

At the meeting on December 2, 2014, the City Commission received a request from Cornerstone Plaza, LLC to purchase the lot currently leased from the City directly behind their property at 2004 E. 23^rd Street.  The purchase of the property by Cornerstone Plaza would enable them to sell the property to a business coming to Lawrence.  The item was deferred in order to provide time for discussion about the price. 

A price of $1.19 per square foot was recommended as a compromise by the Mayor, Commissioner Schumm, and Cornerstone Plaza, LLC. 

Requested Action:

Approve request from Cornerstone Plaza, LLC to purchase a ½ acre Lawrence VenturePark property currently leased to them, located north of 2004 E. 23^rd Street. Authorize the Mayor and City Clerk to execute the necessary documents to sell the property at $1.19 per square foot, for a total of $25,894.40 ($21,760 was offered previously).