The Wayzata Housing and Redevelopment Authority is being asked on May 14, 2026 to provide feedback and a recommendation to City Council on a private inquiry to purchase a City-owned public parking lot parcel (PID 0611722420039) along Lake Street, currently serving 29 public stalls and access for deliveries and solid waste. The interested party has submitted a formal proposal and is offering $300,000, but the City is still in the exploratory stage, weighing maintenance costs, parking demand, liability from vehicle–pedestrian conflicts in the Plaza, and implications for the Fee-in-Lieu-of-Parking (FILOP) program, Panoway plans, and a potential Dakota Rail Regional Trail extension. The parcel is zoned C-4B Central Business District, with strong redevelopment potential for dense, mixed-use or multifamily with ground-floor retail and lake views, likely in combination with adjacent parcels, and constrained by a Met Council forcemain and Shoreland Overlay requirements. If Council opts to continue toward a sale, next steps would include an independent appraisal, term setting (potentially in closed session), Planning Commission review, Council approvals, and closing; if it opts not to sell, the City may still consider operational changes to how the lot is used. This creates an early-stage opportunity for real estate, planning, legal, engineering, and development consultants to help shape deal structure, entitlement strategy, and future site design and operations.

Site is within the Downtown Mobility District and FILOP inventory; high observed parking utilization...