Bid for lease of city-owned land accepted
Friday, March 22, 2013 11:00 AM
Milton City Commissioners accepted a bid for a lease on land owned by the city during a special meeting Thursday.
Commissioners approved the highest bid from Troy Burkhardt for $256.51 per acre for the 10-acre field near the city's park this year, Milton City Clerk Pam Joyce said. The city of Milton leased the land on a year-to-year basis previously, and commissioners agreed to continue the annual lease agreement during the February meeting.
Two bids to lease the property were submitted for the same amount of money at a March commissioners' meeting last week, so both bidders were asked to resubmit bids for the lease.
Commissioners also discussed the loan repayment for the city's two loans during the special meeting.
Because of the decrease in the loans' interest with the annual renewal, the commissioners agreed to use the money saved by paying a lower interest rate on the larger loan and apply the extra funds to payments on a second smaller miscellaneous General Fund loan the city has. Both loans are held by the Farmers Bank of Milton.