FACILITIESPENDING

City of Cordova Council Meeting Agenda April 2026

City Advances Land Sale to Native Village of Eyak for Cultural Center

$700,000City of CordovaNATIVE VILLAGE OF EYAKApril 1, 2026

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Description

The City of Cordova is considering Ordinance 1238 to authorize a $700,000 Purchase & Sale Agreement with the Native Village of Eyak for downtown Lots 19–25, Block 6, Original Townsite to develop a new cultural center and museum. The agreement outlines a 15‑year development schedule, liquidated damages for delays, and an option for the tribal buyer to return the property to the City if substantial completion is not achieved.

Contract Details

Contract Amount

$700,000

Vendor

NATIVE VILLAGE OF EYAK

Agency

City of Cordova, AK

Contract Type

FACILITIES

Document Date

April 1, 2026

Contract Term

Development schedule up to 15 years for substantial completion per Exhibit C; right of first refusal remains until structure substantially completed

Renewal Info

Purchase & Sale Agreement requires substantial completion of the proposed structure within 15 years, with $50,000 per year liquidated damages for missed deadlines or an option for NVE to surrender the property back to the City in original condition; City retains right of first refusal until substantial completion.