City of Hays may exercise its option to buy land north of I-70

Hays city commissioners Thursday will discuss exercising the city’s option to purchase property near Interstate 70 and Commerce Parkway.

In April 2018, the commission purchased an 18-month irrevocable option to buy 91 acres in the northeast corner of the 27th Street and Commerce Parkway intersection at the east I-70 Exit 161. That option expires September 19 of this year.

The property, currently owned by the Cathy A. Braun Revocable Trust of Hays, has significant potential for future retail, commercial, and business park development.

According to a memo from City Manager Toby Dougherty, the cost to exercise the option is the original price of $800,000, less the credited option payment of approximately $17,500 if paid the day following the regular March 14 commission meeting, and prorated taxes of $108. The total remaining purchase price would be $782,608 plus shared closing costs and title insurance.

Staff is recommending the city commission approve the purchase.

(Read more: Hays Post)