Salt Lake City is considering a proposal to sell over two acres of its land for an 80 percent discount on its appraised value.
Members of the Salt Lake City Council will consider a proposal Tuesday afternoon that could allow for the sale of 2.33 acres of land in the Rio Grande District, which carries the Gateway Mixed Use zone (G-MU). The council will hear the sales proposal during a Salt Lake City Community Reinvestment Agency meeting. The CRA has owned the property since October 2008.
The proposed sales price for the parcels, which are located along 100 South between 600 West and Dansie Drive, is $2.5 million — even though the land’s appraised value in January was $12.18 million. The land, which was named the Parry Block, hit the market in March and was listed at roughly its appraised value, though the property had a number of strings attached in its Request for Proposals (RFP)…