Notice of Public Hearing for Sale of Real Property Located at map and tax lot #19-01-14-24-04500

The City Council of the City of Lowell will hold a public hearing to take comments on the sale of real property located off N. Hyland Lane, Lowell, OR 97452 and consisting of map and tax lot 19-01-14-24-04500. The lot is approximately 0.26 acre and is adjacent to the library and City Hall located at 70 N. Pioneer Street. The public hearing will take place at 7:00 PM on June 6, 2023 at the Lowell Fire Department, 389 N. Pioneer St., Lowell, OR 97452.

The reason for the sale is that the property is currently vacant, the city has no use for it, and the sale will allow private development of the site. The proposed use of the property is development in accordance with the new Downtown Residential Detached zoning designation. The city intends to use the sale proceeds to reduce the loan used to finance the construction of the new City Hall. The city obtained an appraisal of the property on April 4, 2023, with an appraised market value of $105,000. On April 19, 2023, the city advertised the property as being for sale. The city received 3 offers on the property. At the May 16, 2023 meeting, City Council reviewed the offers and tentatively selected the offer from TYJB LLC, contingent on completion of the public hearing scheduled for June 6, 2023. A summary of the offer from TYJB LLC includes: $90,000 purchase price, $5,000 deposit, buyer agrees to pay escrow fees, and buyer will pay $1,000 over competing offers up to $155,000. The agreed upon purchase price is $90,000. A summary of the other two offers includes: One offer has a purchase price of $65,000, $5,000 deposit, and the city paying closing costs. The other offer has a purchase price of $60,250 and 10% deposit for final agreed upon purchase price. These offers are available for public inspection in the City Administrator’s office during regular business hours. After the public hearing, the City Council may vote to sell the property to TYJB LLC.

Any written comments concerning the proposed sale received by the city prior to the public hearing will be provided to the City Council. Any interested party may provide spoken or written comments at the public hearing. Members of the public may participate in person or electronically through Zoom meeting by personal computer, tablet, or telephone. For instructions on how to join electronically, go to the following Web address and select the meeting in question: https://www.ci.lowell.or.us/calendar.

Questions concerning the sale of the property may be directed to City Administrator Jeremy Caudle by calling (541) 937-2157 or by email at admin@ci.lowell.or.us.