MEMORANDUM

TO: Pete Sprague, Assembly President

Members, Kenai Peninsula Borough Assembly

THRU: Dale L. Bagley, Mayor

THRU: Max J. Best, Planning Director

FROM: Paul Ostrander, Land Management Officer

DATE: June 24, 2004

SUBJECT: Ordinance 2004-25 authorizing the sale of _____ parcels of borough land by sealed bid

KPB 17.10.070(A) directs that a minimum of two land sales be conducted each year. One sale is the tax foreclosure outcry auction. The other sale is a competitive market value sale. The subject ordinance authorizes a competitive market value sale of ______ parcels by sealed bid. Maps showing the location of each parcel are attached.

Sealed bid land sales have been successful in the past. A sealed bid allows more people to participate in a land sale. The Cooper Landing Subdivision will undoubtedly draw intense interest. A sealed bid land sale should be a more effective means to sell the Cooper Landing parcels than an outcry auction.

The bid opening will be October 28, 2003. The brochure will delineate the parcels and explain the sealed bid procedures. Parcels will have the front property corners marked and sale signs posted where practicable.

Parcels that do not sell by sealed bid will be added to the ongoing over-the-counter land sale authorized by Ordinance 2001-31, Section 5.