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Authorizing the Sale of City Owned Property 159 N. Phyllis City Council Study Session January 22, 2026 Lance Webb, City Engineer Lisa Davis, Real Estate Manager Location: 159 N Phyllis North of Main Street and West of Dobson Road 15, 661 square feet or .36 +/- Acres Purchased in 1985 Appraised value $165,000 • Bastion Investments, LLC owns the property located south of the City owned property • Plan to redevelop the site • Staff contacted property owners in the area but there was no interest was indicated • Small site 15,661 square feet should be assembled with adjacent property for redevelopment • Bastion Investments is working with Redevelopment Program Administrator Sale to adjacent owner for Redevelopment Sale for Appraised value is $165,000 Redevelopment-Site will be assembled with adjacent property Site will no longer be vacant Advantages 159 N Phyllis Authorize the sale of 159 N Phyllis and the City Manager to enter into a purchase and sale agreement Questions