The city-owned home at 314 S. Broadway is slated to hit the market within the next week or two, Belgrade City Manager Ted Barkely said Tuesday.
In 2012, the city purchased the house at the three-way convergence of Broadway, Madison and Colorado streets in order to acquire right-of-way necessary to amend traffic flows at the confusing intersection. After making necessary lot line adjustments to ensure that the city will retain ownership of 15 feet of lot frontage on Broadway and about 60 feet of frontage on Madison for future traffic improvements, the city decided in October to sell the house, which it has managed for several years as a residential rental.
Barkley said last fall that the property would be listed imminently, but the timeline changed when it was decided to have an asbestos evaluation done on the structure. The study revealed that some of the insulation in the house contains asbestos-contaminated vermiculite.
On Tuesday, Barkley said the city is now ready to market the property, though it doesn’t expect to profit significantly from the sale. He said it is likely the city will set the minimum price at $110,000 and accept bids. The city paid $110,000 for the property in 2012.
Both Barkley and Public Works Director Steve Klotz have said the city has no immediate plans to fix the intersection, and that the project is fairly low on the priority list for transportation improvements. Barkley said Tuesday there has not been a significant number of accidents at the intersection that would precipitate more urgent action.
When the city acquired the property in 2012, suggested intersection improvements included construction of a roundabout to collect the traffic funneling in from various directions or creating a right-hand turn lane on Madison where it meets the three-way intersection. Another idea was to change Madison’s orientation to meet the street at a 90 degree angle.
Though the house has been used as a residence, the zoning of the parcel allows for commercial use.
Because of its prominence and visibility, “it’s a good location for a business,” Barkley said.