The City of Baxter Seeks Proposals for Property Acquisition and Development
27 Sep 2021
The City Council of Baxter, Iowa is requesting proposals for the acquisition and development of property located at 407 S. East Ave., Baxter, IA 50028, and legally described as:
W ¼ of the SW¼ of the SE¼ of Section 14, Township 81 North, Range 20 West of the 5th P.M., in the City of Baxter, Iowa, except the N. 6 acres thereof.
The City Council is requesting proposals for a business plan that includes purchasing said property, demolishing the building, and developing the property for commercial or residential use. The Council is open to reviewing various proposals, but all must include proper demolition and disposal of the building. It is anticipated that a development grant from the City or other entity would substantially cover the purchase price of this property. In the event a proposal is accepted, the buyer would sign a Development and Minimum Assessment Agreement consistent with the proposal.
Proposals should include an estimate of development costs, including demolition and construction costs, proof of financial ability, including a letter of credit showing construction can be financed, a plan for the property itself, examples of similar work previously completed, and a site plan and façade plans. Those submitting proposals should describe their experience in projects of this kind and include photos of similar projects. The proposal must include information regarding the time frame for completion. The City of Baxter construction requirements require that any building meet all current city codes and ordinances and that construction be completed within 24 months of the closing. Please note that this property is sold "as-is" and may be subject to environmental remediation. It is required that any remediation be performed by a professional remediation contractor.
Proposals must be received in the City Clerk's office on or before noon on November 30, 2021. The City Council will review submitted proposals at its meeting on December 13, 2021. One winning proposal will be set for public hearing followed by a vote of the council on a "Resolution Approving Sale" of the property. The City reserves the right to reject any and all proposals.
Buyer shall receive abstract showing marketable title and Warranty Deed at the time of closing. The buyer is responsible for a final continuation of the abstract. The City will pay the cost of abstract continuation not to exceed $800.00. Other buyer and seller expenses at the time of closing will be handled as usual.
Sale of the property will close on or before March 1, 2022, contingent on City being able to secure marketable title to the property by that date. This property is sold in existing condition "as-is" with no warranties as to fitness for a particular purpose or other warranties other than warranties of title.