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<br />REQUEST FOR COUNCIL ACTION <br /> Date: 11/19/2012 <br /> Item No.: 7.l <br />Department Approval City Manager Approval <br /> <br />Item Description: Authorize Expenditure of Roseville HRA funds for the acquisition of 2325 <br />Dale St. and adjacent vacant lots on Cope Avenue. <br />Page 1 of 1 <br />B ACKGROUND 1 <br />The Roseville HRA is anticipating closing on th e purchase agreement for 2325 Dale Street and 2 <br />Lots 18, 19, 20, and 21, Block 1, O’Neils Additi on on Cope Avenue. The closing is scheduled 3 <br />to take place on November 30, 2012. As has been previously discussed with the City Coucil, the 4 <br />Roseville HRA is purchasing the home at 2325 Da le Street and the surrounding vacant property 5 <br />and Dale Street Fire Station to assemb le land for a future development. 6 <br />B UDGET I MPLICATIONS 7 <br />The HRA will be utilizing existing funds from the Multi-Family program fund. No new levy 8 <br />funds are required for this purchase. 9 <br />S TAFF R ECOMMENDATION 10 <br />Consent to the acquisition of 2325 Dale Street and Lots 18, 19, 20, and 21, Block 1, O’Neils 11 <br />Addition in an amount to not exceed $638,000. 12 <br />R EQUESTED C OUNCIL A CTION 13 <br />Motion to consent to the acquis ition of 2325 Dale Street and Lots 18, 19, 20, and 21, Block 1, 14 <br />O’Neil’s Addtion in an amount to not exceed $638,000. 15 <br />Prepared by: Jeanne Kelsey, Housing Program Manager, 651-792-7086 <br />Attachment A: Survey of property to be acquired.