City to discuss property sale in closed session

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A year ago the Craig City Council decided to sell property on Victory Way that was the site of the Cosgriff Hotel.

Since then, only one offer has been made and the council will address that request in executive session Tuesday night at its regular meeting.

The meeting begins at 7:30 p.m. in the council chambers of Craig City Hall.

The city of Craig owns ten 25-foot-by-125-foot lots at the front of the property located between Russell and Tucker streets on Victory Way. The lots were acquired in lien to recoup the costs of demolishing the condemned, asbestos-filled Cosgriff Hotel.

According to City Attorney Sherman Romney, the property was not acquired for any public purpose.

The property is listed for sale at $225,000, or best offer. It was appraised in 1998, but the city is not legally obligated to release the amount of the appraisal.

The city spent approximately $115,000 to demolish the hotel, and, according to Romney, the property has been appraised higher than the demolition costs.

The property is zoned commercial.

Tuesday night, the council will discuss the terms and conditions of a sale of the property and receive legal advice

on the sale.

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