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REQUEST FOR HRA ACTION <br />Date: 8-21-12 <br />Item No: 9d <br />Staff Approval: Agenda Section: Action Item <br /> PT <br />Approval of purchase agreement for 2325 Dale Street and 4 lots on Cope Avenue (HF0117) <br />Background <br />At the January and February RHRA Board meeting, the Board discussed the possible purchase of <br />2325 Dale Street, which is currently listed for sale. Since the land is adjacent to the Dale Street <br />Fire Station that will be closed once the new fire station is completed at the City Hall campus, <br />the RHRA board approved staff to obtain an appraisal of the property after getting pricing <br />opinion from two residential realtors and two commercial realtors. <br />Appraisals for the properties were completed on June 7, 2012 and appraised values for 2325 <br />Dale is $287,500 and the 4 single family lots on cope are $351,000. The RHRA attorney’s Real <br />Estate team has drafted the attached purchase agreement. The O’Neil family has reviewed the <br />appraisals and is in agreement with the purchase price and terms of the agreement. <br />Suggested RHRA Action <br />If the Roseville HRA is in agreement with the negotiated purchase agreement for the purchase of <br />2325 Dale and the 4 single family lots on Cope then the RHRA Board needs to authorization the <br />Executive Director and the Board Chair to enter in to the agreement. <br />Prepared by: Jeanne Kelsey, HRA Housing Program Manager (792-7086) <br />Attachments: Purchase Agreement <br />2325 Dale Street/Dale Street Fire Station - Page 1 of 1 <br /> <br />