Thursday's agenda of the Capitola City Council meeting is short, but contains one whopper of an item: the discussion of the fate of the Rispin property.
The City bought the property for $1.35 million in 1985. It was then sold to the Redevelopment Agency for that amount in 2003. However, with the dissolution of the RDA in 2011, the City must now decide what to do with the property.
According to Mayor Mike Termini in his post here on Capitola-Soquel Patch, Capitola is "faced with the successor agency either paying the note to the city or just giving us the property back. If we take the money, the property will be sold."
He also said the council's choices include keeping the property and finding a new use for it or putting it on the market for private ownership.
For many locals, the words "Rispin Mansion" are just played out, as the plagued property has been inaccessible to the public for years.
"Nothing ever happens with it except for more money getting dumped into it," commenter Dan said on the mayor's blog post. "Sell it, it's a money pit, always has been, always will be, enough is enough, cut our losses!"
To view the full agenda for Thursday's meeting, click here.
What do you think the City should do with the Rispin property? Tell us in the comments!