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Community Redevelopment Agency September 8, 2011 Page 3 of 6 in the CRD and impact fees. The Board decided to review incentive options on a case by case basis and did not want to be tied to any specific program. Sixth Item of Business: Target Outparcels Sales Strategy and Next Steps Ms. Pamela Lynch, Economic Development Coordinator, reviewed staffs memo dated September 9, 2011 (a copy is on file in the Community Development Department). Ms. Lynch stated that Southeastern Surveying has completed the requested surveying services. She said the size of parcels A, B & C is 0.71 acres. A brief discussion ensued regarding Target's existing sign. Ms. Lynch stated that Mr. Triece, Triece Company, completed a market analysis that estimated the asking price of $21, per square foot. She said as the property currently sits, the asking price would be approximately $650,000 and with the assemblage of the additional 0.19 acres the asking price would be approximately $824,000. Ms. Lynch said an appraisal could be done when a serious buyer presents a purchase contract to the CRA. She said that Mr. Triece suggested the best usage for the site would be a one user retail or a restaurant. Ms. Lynch said at this time staff would like to go before the City Commission to request that the 0.19 acres be deeded to the CRA to assemble with the 0.71 acres. Mr. McGregor made a motion accept Mr. Triece's recommendations for the asking price and to have staff request the City Commission deed the 0.19 acres to the CRA. Mr. Ritchie seconded the motion. Mr. Steve Triece, Triece Company, came forward to answer questions regarding the Target Outparcel, Mr. Triece reviewed the breakdown of the CRA Target Outparcel that was attached to staffs memo dated September 9, 2011 (a copy is attached and made a part of the minutes). A general discussion ensued regarding development of the Target outparcel site. Mr. Triece explained that the parcel currently owned by the City has some utility lines located on it which will slightly limit the use of that area but it will provide usable area to the development. Mr. Triece said that the CRA's property has a clean slate except for some contamination monitoring wells which need to be dealt with in the purchase process. In response to the Board's question, Ms. Lynch said the Phase II report determined that there were no underground storage tanks on the site. Ms. Lynch said she would confirm regarding any contamination on the site. Mr. Triece recommended that the Board provide the documentation that the CRA has for the parcels to the user;