CASPER, Wyo. — After discussions with FLAG Development, City of Casper staff are recommending that the City Council move forward on the sale of the former Plains Furniture Building and adjacent properties.
City staff proposes selling the properties to FLAG for $500,000. Details of FLAG’s proposal are available in this article.
Staff presented their recommendation during a special work session on Wednesday, May 22.
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City Manager Carter Napier said that FLAG’s proposal would fill a need for housing downtown.
Councilman Chris Walsh said that FLAG’s proposal could “change the face of downtown.”
The Council said they’re prepared to move forward with the agreement procedures.
“After clarifying and/or having removed some terms and conditions and obtaining a firm dollar offer, Flag and the City are close to a possible accord,” City Attorney John Henley said in a memo.
“With Council’s permission staff seeks approval to finalize an MOU (Memorandum of Understanding) with Flag for formal consideration by resolution at the next regular council meeting.”
The MOU outlines obligations that would be undertaken by both FLAG and the City.
“Flag Development, LLC shall develop and construct its proposal as specified in RFP#2, which will include both market-rate housing and commercial space; the historic features of the Properties as reflected in RFP#2 shall be incorporated and preserved,” a draft of the MOU reads.
A parking lot north of the former KaLark building would not be part of the sale. However, the City would agree to keep the 48-spot lot open for public use for five years.
If the City decides to sell the parking lot, FLAG will have first rights to purchase the parking lot for $250,000 under the proposed agreement.
The MOU would also give FLAG a 75 day window to review environmental studies “and to explore the potential for acceptance of the motor pool and historic garage into Casper Registered Historic District or getting the building registered on the National Register of Historic Places and make successful application and acceptance into the Federal Historic Preservation Tax Incentives Program.”
Should the properties fail to qualify for the tax incentives program or be refused admission into both the Casper Registered Historic District and the National Register of Historic Places, FLAG would have the right to void the agreement.
Should the Council accept the MOU between the City and FLAG, a purchase agreement could move forward.
“Thereafter, upon approval by Council, a purchase agreement will be drafted for the parties’ consideration and at that point a public hearing will be established for the review and potential approval of the final documents to bind the parties,” Henley’s memo states.