2022 02 15 City Council

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FINANCE DEPARTMENT 
 
MEMORANDUM 
 
TO: C. Seth Sumner, City Manager 
FROM: Mike Keith, Finance Director 
DATE: January 31, 2022 
SUBJECT: Sale of 2 acres of Redfern Drive Property to AUB  
 
As you are aware, we have been negotiating on the sale of 5 acres of the Redfern Drive property 
to the data mining company.  Based on the latest information we have, they are negotiating with 
Boyd and Dale Reynolds for the lease of their paved lot on Redfern Drive.  This is located next to 
our property on Redfern.  In order to accommodate AUB supplying the power necessary for this 
project, AUB desires to purchase 2 acres, more or less, from the City to locate a new subs tation 
next to the property being leased.  The recommendation is to sell AUB the property needed at a 
cost of $25,000 per acre.  This substation will supply power for the data mining company and 
have the ability to supply additional power to future industries locating on the City property.  This 
sale of property to AUB has been requested by Eric Newberry.   
 
I have attached a resolution authorizing the property sale.  Please let me know if you have any 
questions regarding this. 
 
 
 
    
 
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