Tallmadge -- The city is unloading a parcel of land at the corner of West and Sperry avenues with the hope it will be developed for the health care industry.
City Council authorized the city administration Oct. 24 to sell the estimated 1 acre parcel to Tallmadge Grow Inc., a nonprofit Community Improvement Corporation [CIC].
The city will sell the property to Tallmadge Grow for the price of $10. In return, the nonprofit will market and sell the property to a third party on the city's behalf.
According to Law Director Megan Raber, state law allows municipalities to set up community improvement corporations to assist with economic growth.
"All profits from the sale of this lot come back to the city's general fund," Kline said.
The property is zoned commercial, which allows doctors and dentists offices, medical offices, car dealerships and retail businesses, according to city officials.
The parcel is to the north of the former Tallmadge Aquatic Center building at 111 West Ave., where the Tallmadge Little League and Dynamics Community Theater lease spaces on the first floor, and the North American Indian Cultural Center leases space on the second.
The city subdivided the parcel and assigned a new address of 125 West Ave. to it, Kline said.
"There's a lot of activity on that corner and a lot of activity [for another parcel] behind [Monro Muffler Brake & Service] ... I think the CIC would do well to get this property into economic development," Kline told Council Oct. 21, referring to the number of phone calls from parties interested in building on these specific lots and in the West Avenue Corridor in general.
Kline said he'd like to see some type of health care development on the lot because the demand for medical services and businesses seems to be growing and will continue to grow for the city in the near future.
"It's a clean commercial operation. There's a need of medical," he said.
The city had the parcel appraised at about $200,000 a few months ago. Now that the city has a storm water easement on the west side of the property, reduced the size of the lot by 20 feet on the east side in case Sperry Avenue needs to be widened in the future, among other things, the city is having the property appraised again. Kline said the appraised value of the property might be lower this time because of the changes but couldn't say by how much.
After the re-appraisal is completed, Tallmadge Grow will put the parcel up for public bid, which Kline expects to happen in two to three months.
After a five-week bid advertising time line, the city will review submitted bids and determined which, if any, to accept.
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