| | MANAGER'S REPORT:
At its October 6, 2014 Lands Meeting, the Lands Committee unanimously approved a motion to recommend that the Assembly adopt an ordinance to sell Lot 2, Block A, South Lena Subdivision to the Juneau Housing Trust for $40,000. The property would be used for the JDHS house building program. The Lands Committee also requested that the approval contain a provision for the Manager to direct staff to develop an Early Entry Authorization to allow the school to install a foundation on the site before the Ordinance is formally adopted. This would allow site preparation and construction of a foundation on the site before winter.
In 2007, fair market value for the 0.74 acre parcel was $101,000. In the past, the CBJ has made property available to the high school building program for fair market value. The value of the land was recouped by the CBJ when the home was sold after construction was completed. In recent years, lots that were acquired by the CBJ through property tax foreclosure were made available to the high school program for the cost of taxes owed on property. Under these circumstances the home building program received land for less than fair market value.
In addition to recommending that the CBJ sell the lots for less than fair market value, the Lands Committee also recommended that the sale of the property include a reversion clause stipulating that if construction has not begun within 2 years, title to the property would revert back to the CBJ. | |