Less than two months after using bond money to pay off a loan for property originally bought to build a new city hall, Yukon officials are expected to consider an offer to sell it.
Included in the items on the agenda for Tuesday’s city council meeting is the proposed sale of 42 acres at the intersection of Yukon Parkway and Main Street.
The property was purchased Sept. 15, 2015, from First American Partners for $2.3 million.
The council is to consider an offer from John Gravitt, of Gravitt Homes, to purchase the land for the same amount of money.
The city paid off the loan that was used to purchase the property in November using nontax exempt bonds.
The loan was issued by BancFirst.
The city had been paying interest-only payments on the property and owed about $2.2 million.
The property was purchased with the goal of constructing a new city hall at the site. However, financial problems discovered in late 2015 forced the city to shelve those plans.
Gravitt, who is based in Edmond, helped develop Timber Creek Estate at Mustang Road and Southwest 15th Street.
Gravitt said that development is nearly complete. It was a four-phase residential neighborhood and has about 530 homes.
He also has commercial developments in Midwest City.
The new project is expected to contain both residential and commercial developments.
“We are working on the details with the city,” Gravitt said.
According to a memorandum to the city council, City Manager Jim Crosby is recommending that the offer be accepted.
“We have received an offer of $2,300,000 for the property from John Gravitt and/or his assigns; with the understanding that the city of Yukon will work with him and his engineer to obtain the required zoning needed for his proposed development,” Crosby wrote.
Gravitt said he is excited about the purchase.
“I enjoyed working and building in Yukon. We’re looking forward to it. It’s a great location anchored by great neighborhoods,” he said.
The area is surrounded by several major businesses, including Walmart Neighborhood Market, LifeChurch, the Dale Robertson Center and the Mabel C. Fry Library.
In addition, Yukon Fire Station No. 1 is located directly across from the property.
“It is a really good location, but it needs attention, thought and planning,” Gravitt said.
The city also owns about 200 acres of property near Frisco Road and State Highway 66. That land was paid off at the same time as the city hall property.
Officials say they have no plans to sell that property in the near future. Leaders are hoping to eventually sell frontage land as development of the Thunder Falls water park takes shape.
That property was originally purchased for $3.3 million for the construction of a sports complex.
Voters rejected a sales tax last year to finance the project. Crosby has said that the city may revisit the sports complex in the future.
In other action, the council will consider:
- Approving a permanent easement for the widening of Frisco Road;
- The purchase of two Chevrolet Tahoes from the Vance Auto Group to replace two that were damaged in traffic accidents. The total cost is $71,973.50;
- Approving an extension of the 2017 concrete and asphalt paving, drainage and water and sewer project contract for an additional year. The contract is with Brewer Construction Oklahoma;
- Approving the bid specifications for the Frisco Road widening project;
- A permanent easement for the Frisco Road Project;
- An update to the city’s burn permit policy.
The council will meet Tuesday at 7 p.m. in the council chambers at the Centennial Building. A 6 p.m. work session will precede the meeting and will be held in the conference room behind the council chambers. Both meetings are open to the public.