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11 Assessor has estimated a fair market value of $2.50 a square foot if Council requires payment. He said this would need to be added to the ordinance. Responding to a question from Mr. Schilling, Mr. Brown said the ordinance proposed reflects staff's recommendation. Responding to a question from Mr. O'Connell, Mr. Brown said the best guess of the amount of property is 1,000 square feet, but the exact amount will be determined after there is a revised plat. The public hearing was o pened. Mr. Michael Derdeyn, 102 Peterson Place, attorney representing the property owner, said the owner supports the ordinance as proposed. He said the owner lives out of town now, inherited the property, and wants to see it. He said this is why the encroachment issue came up. Ms. Richards asked about the sales price. Mr. Derdain said that is a matter of contract. He said the amount may be adjusted down because of less land. Mr. Schilling asked about the increase in the value of the property if the quitclaim is approved, and Mr. Derdain said it will place it in taxable coffers. Mr. Schilling asked if the purchasers would have offered less if they had known of the situation. Mr. Lynch made a motion to convey property on Forrest to the sidewal k and on Charlton convey two feet to the northwest of the drop inlet. He said quitclaiming more property could affect our ability to construct a sidewalk. He said his motion includes charging $2.50 per square feet. Mr. Schilling seconded the motion. M r. Caravati amended Mr. Lynch's motion to quitclaim at no charge, and Ms. Richard seconded the motion. Mr. Schilling said quitclaiming will increase the land and he feels it is justified to charge for a lot on a B - 3 site. He pointed out that the contrac t price is almost twice as much as the assessment. Mr. Caravati said he does not feel a commercial building could be built on the site given the square footage. Mr. Brown said the plan is to continue to use the property as rental, but in the long - term the plan is to look at residential or commercial. Mr. Caravati's motion was defeated by the following vote. Ayes: Mr. Caravati. Noes: Mr. Cox, Mr. Lynch, Ms. Richards, Mr. Schilling. The ordinance entitled "AN ORDINANCE AUTHORIZING THE CONVEYANCE OF A PORTION OF THE CHARLTON AVENUE AND FORREST STREET RIGHTS - OF - WAY TO DORIS CAREY," as amended, was offered and carried over to the next meeting for consideration. nd ORDINANCE : REZONING RIVERSIDE AVENUE PROPERTY TO PUD (2 reading) Mr. O'Connell explai ned that the ordinance needs to be amended due to a proffer change.. Mr. Brown said the only change is a clarification about the maintenance of the trail and a new proffer date.