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Flhe concept pllan currently shows 21 town Ihomes on the exisfing hot. 1I am proposing a <br /> purchase price of $349,000 and will be asking the City to improve the road and provide <br /> water and sewer connections off Soren Street. Thi s woulld give me a per unit cost of <br /> approximately $16,600. 1I woulld then be responsible for all the utilifies and <br /> improvements withn the hot. <br /> I iirojjposed IIll at IIll ayout ............1 011ptiloin 2 <br /> Fotall units 30 33 (30 unit pllan shown) <br /> Extra parking '12 15 spaces <br /> Per unit rent $1800 $2000 <br /> Per unit approximate vallue- $250,000 <br /> Fotall completed vallue- $7,500,000 to $8,250,000 <br /> As an added option, 1I woulld consider purchasing the adjoining Ihouses on Goiffon Load <br /> f the owners are willing to selIlI. Estimated acquisifion cost of each Ilhome woulld be <br /> around $200,000 for a tact ll cost of $400,000. If the owners are willing to selIlI, acquiring <br /> both Ilhomes woulld allllow another nine units allong Goiffon. The t1hree fow pllex units, in <br /> the middle of the development may possibly be converted into five pllex buildings, <br /> adding an addifionall t1hree units (not shown on the concept) for a tact ll of '12 units. If the <br /> City woulld be willing to reduce the purchase price of the City owned hot by <br /> approximately $200,000, 1I coulld lilkely walks the numbers worlk to add the addifionall <br /> units, assuming 1I coulld acquire the addifionall Ilhomes for $400,000. (11 ot purchase price <br /> $150,000 + Ilhome acquisifion $400,000 + derno of Ilhomes $40,000 :::::::: $590,000/ 33 <br /> uNts :::::::: approximately $17,900 per unit hot cost.) If the council/planning commission <br /> finds ths opflon favorable, 1I woulld Il an ask the city to improve Goiffon Load and <br /> provide sewer and water stubs for the proposed town Ilhomes on Goiffon. <br /> Il y per hot cost is a liittll Ihiigher, but my overall all utility cost woulld be a little lower with <br /> the city improving Goiffon. In addifion, there woulld be added vallue to the enfire <br /> community iii the enfire block was redeveloped. <br />