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REQUEST FOR COUNCIL ACTION DATE: 4/13/, <br />T NCB . s <br />Department Approval: Manager Reviewed: Agenda. Section <br />" ... Reports and Recommendations <br />Itlem Description: Purchase of Hammersiten ioropertles at 266 West County <br />Road <br />Last year the Hanunersten families? Byron Senior and junior, approached <br />the CILtyregardingi the purchase of thlei"r properties at 266 County Roadi <br />The Hamm,ersten properties are bounded by Acorn Park on three sideso <br />Ps can be attached <br />The Council instructed that an appraisal of the properties be obtained. <br />Attached is the cover letter f rom the appraisal listing the market <br />values and the values, sub"ect to one to eight year estates. <br />All Gi <br />The Counbill, after receipt of the appraisal, authorized the staff to <br />negotiate the purchase,, of the proplertiess Mrs Hammersten, Senior has <br />eill,ecilted, to take a s,i,x year estate at the appraiser's vailue of $61,900, <br />and, Mrs Hammerstein, Junior has chosen to sell at the appraisext-'s; market <br />value of "'. <br />Because of' the loica,tion of these propertiles within Acorn Park, it <br />recioimm,ended that, the Council proceed with the purchase. The cost oJ <br />the propertiLes would be i <br />Hammersten, Senior Property $61r900e0 <br />Hammersten, Junior Property 0i <br />'Title Search, Estimate •. ii <br />19�817 Property Taxes 21160m0_ <br />Pe +sir I III A I �I <br />TOTAL '. ,1 <br />d Jshould e from the properto <br />blefore the end, of the six year estate., the CitY will pay the differenc <br />biet,ween the , <br />e year, the p o p e <br />vacated ` attached cover letter <br />Ai <br />appraiser). <br />iti is recommended the purchase be funded from the Fund whilch, has a balance of ss ! <br />.+1 could + <br />funded f'riom the Permanent Improvement, had a December <br />1,9�86 approximately w <br />balance <br />if the Councill approves e. prepare purchasile, Purchase Agreement and a, closing will be scheduled. <br />