FARMINGTON — Davis County commissioners will sell nearly four acres in the Eaglepointe subdivision in North Salt Lake to generate cash for the county's reserve fund.
The 10 building lots were acquired in a trade with developers for 50 acres on a steeper grade near the North Salt Lake gravel pit about 10 years ago.
Commissioner Michael Cragun, who proposed selling surplus county land to build up the reserve fund, will work with County Clerk/Auditor Steve Rawlings and purchasing director VerNon Griffeth to devise how best to sell the 10 Eaglepointe lots. They will present their findings July 22.
Cragun said the county, by law, must receive at least the fair market value for surplus property. The lots are expected to sell in the range of $75,000 to $125,000 each. The property has been carried on the county's books since the trade, but no value has been attached to it, Rawlings said.
The county's operating budget is $64.6 million this year, and reserves have dropped to about $2.5 million, Rawlings said. In recent years, commissioners have dipped into the reserves to balance the budget without increasing taxes.
Last week, Jeff Ambrose, of the Ogden public accounting firm of Crane, Christensen & Ambrose, which recently completed an audit of the county, told commissioners the general fund reserve should be increased.
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