The Cordova Electric Cooperative (CEC) has been in a lease with the city since the 1980s, but this month City Council members indicated they’re ready to sell CEC that property.
Council members unanimously agreed to sell CEC their property for $75,000 during the council’s regular meeting on Nov. 5.
The 2.14-acre property was formerly a steep hillside cliff when the city began leasing it to the CEC in July 1983. CEC blasted the hillside to level out the land before building a structure on the property, and has been in a long-term lease with the city since.
The potential sale is the latest move by the council to boost city revenue during a tumultuous budget cycle.
The council over the past year has toyed with leasing or selling multiple municipal properties to make money – most recently releasing a request for proposals for the breakwater fill lot and entertaining an idea for a privatized T-Dock – on top of raising property taxes and cutting funding from city agencies.
During the Nov. 5 meeting, Council Member Kasey Kinsman said he’d like a solid plan for the $75,000 the city will cash in from the sale.
“I know we’re in the middle of budget cycle, but what are we doing with this money?” he said. “That’s what I know, and what I want the public to know.”
The Nov. 5 discussion about selling property to CEC was a first reading, so the sale is expected to be made final at a future council meeting, and after a public hearing.
