Broken Arrow City Council
Meeting of: 05-20-2025
Title:
title
Approval of an extension of the bid 25.142 award period for the sale of property located at 401 E. Kenosha for an additional 90 days, finding such extension to be in the best interests of the City of Broken Arrow
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Background:
The property located at 401 E. Kenosha was acquired by the City in 1996 through uncontested condemnation as part of the Kenosha Street widening project. The property was purchased from Allen C. Anderson for $114,000, with funds from the Property Tax and Judgment Fund. Since the completion of the project, the approximately 6,500-square-foot (0.15-acre) tract has remained in the City’s property inventory.
On December 3, 2024, the City Council approved the disposition of the property.
Bid No. 25.142 for the sale of the property was publicly advertised on February 28, 2025. Adjacent property owners were also notified by email and certified mail. The bid package included a current good faith appraisal valuing the property at $120,000, prepared by Ace Appraisal Group, a reputable and experienced firm.
On March 26, 2025, one responsive bid was received from Mike Lester with Samson Commercial, on behalf of CRS Sanders Investment, in the amount of $40,000. The required $10,000 earnest deposit was also submitted, which remains refundable if the City ultimately rejects the bid.
Given that the bid is below the appraised value, City staff is currently evaluating available options and recommends extending the bid award period by 90 days. This extension will allow staff additional time to engage with the bidder, further explore market conditions, and consider potential alternatives for disposition that may yield a return more aligned with the property’s appraised value and overall market comparable(s).
Cost: $0.00
Funding Source: N/A
Requested By: Ryan Baze, Director of Maintenance Services
Approved By: City Manager’s Office
Attachments: Bid #25-142 - Property Bid Invitation 401 E Kenosha St_
Bid #25-142 - Property Bid Invitation 401 E Kenosha St-Tabulation
Recommendation:
recommend
Approve the extension of the bid 25.142 award period for the sale of property located at 401 E. Kenosha for an additional 90 days, finding such extension to be in the best interests of the City of Broken Arrow
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