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Svgii Hill Tax Forfeit Parcel Update continued <br />page 2 <br />in detennining whether a portion or all of the undeveloped Saga Hill property should be <br />preserved as park land. <br />of infomiaiioii on which lo base a decision it may be ^ to delay a^iston <br />both the acquisition of the tax forfeit parcel and the presetvwon rf ^tk <br />until sufficient taLnation is available. However, two items may lead the Council lo make <br />this decision in a shorter time frame. <br />1 The developer proposing the residential develop^ may request the city to m^ <br />a decision in terms of a land exchange to assist the developer m detetmuung <br />whether a development is feasible. <br />The developer could also decide to bring in a development plan that would not <br />include the tax forfeit parcel. <br />2 The County has asked the city to formally confirm its interest in the forfeit <br />narcel. The city needs to confirm this interest either in relation to acquinng the <br />parcel at no cost or in terms of purchasing the parcel for its curoij assessed <br />value. Although the County is aware of the city’s strong interest in tto parcel, <br />they need a formal confirmation of this interest. If the city delays, th^ounty <br />may have other interest expressed from either public or *“”***' <br />step in the County ’s parcel disposal process is an open bid process. If the city <br />delays in its confirmation too long the County could be under pressure to move <br />to this step. <br />i^ts^of^ S^aHUl area have suggested that the city may want to plac^ [^fo ” uH <br />on development of the approximately 40 acres of undevetop^ PTSLfof X 2^ « ^ <br />city to complete a process of identifying and evaluating the charactenstics of tte pro^^ «the <br />b^is for dctermiiLg whether all or some of the property should be preserved as park land.