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1) Offer first right of refusals to the owners. This would provide security that when they are interested in selling the City would be able to make an offer first. Once assembled, the properties would be sold to a hornebuilder for a new subdivision. 2) Market the area to homebuilders and encourage therms to assemble the parcels for a new subdivision. 3) Do nothing. At a minimum the home at 450 W County Road B would likely sell and retrain in its current form. 4.2 335 Burke street: This home is also very small with a full unfinished basement on an average sized lot. The home has been well maintained aesthetically but does need p ical maintenance repairs such as a new roof, soffits, water heater and furnace. Mildred Bucher who is currently living in an elder care home owns the home. Her granddaughter Angie Reitmeier is handling the sale of the home and mentioned that the great granddaughter may be interested in purchasing the home but robabl could not handle the mortgage payments plus rake the necessary p � improvements needed. Staff would like to work with the family and combine a first time homebu er loan with a low-interest deferred loam for the necessary improvements. Staff Recommendation 2190 St. Croix Street+Pursue purchasing the home under the housing replacement yarn and order an appraisal to determine the value of the home. Once the prod p R appraisal is complete, negotiate with the owner on a purchase price and bring a purchase agreement back to Council for consideration. 5.2 450 W Countv Road B —Staff would recommend working with homebuilders for the p phased redevelopment of the homes on County Road B from 450 VIA B east to 436 possible site configuration). It is estimated that assembling three parcels 1�1� B (see p � coup accommodate 4-5 new homes with a cul-de-sac directing the frontage of the homes awe from the bus county Road. Staff would recommend meeting new ho l► with the ho meowners prior to contacting any homebuilders and explain the City's tale as a facilitator. The homeowner at 450 W County Road B has indicated that her neighbors may be interested in selling at some point in the future. Any proposal from a hom ebuilder wound need to go through the normal planning process with public hearings and plan review. 5.3 335 Burke #reet- Staff would recommend assisting the existing family in making the necessary improvements to the home plus work with local lenders to provide the great granddaughter hter with a first time homebuer loan. If approved, staff would RCA—HRP, 2100 St. Croix 06/22/98-Page 3 of 4