Council weighs next steps after single $50,000 bid for vacated Stone Ridge park parcel

Staff informed the council that the City received one bid of $50,000 for the vacated Stone Ridge parcel, which was appraised at $270,000 a year earlier and is just under one acre. Earlier solicitations produced higher bids ($150,000 and $102,500) that councilors previously rejected as too low.

Staff asked councilors for direction ahead of the May 5 regular meeting, offering to bring a formal sale item if council wanted to finalize the deal. One councilor said $50,000 was far below the appraised value and preferred the city retain the parcel rather than accept the low offer; another councilor signaled willingness to proceed with a sale.

Staff did not ask the council to re-advertise immediately at the pre-meeting but requested guidance about what to place on the May 5 agenda so the council could take formal action at the regular meeting.