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HRA Meeting Minutes – Tuesday, August 21, 2012 Page 7 1 home, own your life.” Ms. French noted that housing was no longer seen as an investment; 2 with the current demographics and attitudes shifting toward rentals. Ms. French encouraged 3 the HRA to look at rental homes for licensing as well, since many communities found more 4 compliance issues with single-family than multi-family, especially in the current foreclosure 5 market and those properties not being held accountable to anyone. 6 7 Ms. Kelsey noted that the Neighborhood Enhancement Program (NEP), through its annual 8 inspection of home exteriors, registered single-family rental properties; and the City was 9 developing more accurate and timely data for those property owners or responsible parties to 10 address code violations or those needing abatement. 11 12 Motion: Member Maschka moved, seconded by Member Willmus, the HRA Board’s 13 agreement with the findings of the report as presented; and recommended that the report 14 be presented to the Roseville City Council to facilitate discussion among the two bodies at 15 their future quarterly work sessions. 16 17 As duly noted by staff, Member Willmus requested that, when the report came before the City 18 Council, the chart be enlarged for easier reading. 19 20 Ayes: 5 21 Nays: 0 22 Motion carried. 23 24 d.2325 Dale Street Purchase Agreement 25 Details of this requested action, and a copy of the Purchase Agreement were provided in the 26 staff report dated August 21, 2012. 27 28 Housing Program Manager Kelsey reviewed the two (2) appraisals on these properties, with 29 the High Density Residential (HDR) appraisal at $287,500; and appraisal as four (4) single- 30 family lots at $351,000; for a combined appraisal of $638,500. Ms. Kelsey reviewed 31 negotiations with the property owner(s), and meeting contingencies, with a recommended 32 closing date of November 30, 2012. Ms. Kelsey advised that the property owner(s) had signed 33 the Purchase Agreement; and that tonight’s action was for HRA approval of a Purchase 34 Agreement if they were in agreement. At that time, Ms. Kelsey advised that staff would then 35 pursue due diligence, and process $10,000 as earnest money toward closing on the property. 36 37 Discussion included the size of the parcels and their individual market values; 11,000 square 38 foot minimum lot sizes in Roseville; use of the existing single-family home on one parcel as a 39 practice home and burn house at the request of the Police and Fire Departments, which would 40 reduce demolition costs other than removal of the foundation and any possible soil 41 contamination. 42 43 Further discussion included the City Council’s previous agreement for the HRA to move 44 forward with purchase of these lots and rezoning of the Fire Station site. As part of staff’s due 45 diligence, Ms. Kelsey suggested that the City’s Engineering Department stake the property 46 lines to ensure everyone was in agreement; and then to determine if a Phase I environmental 47 review was needed, although not anticipated based on the history of uses on the properties. 48 Ms. Kelsey noted that there was a well on the property that would need to be sealed properly. 49 50 At the request of Chair Maschka, Ms. Kelsey confirmed that the Purchase Agreement language 51 included a contingency based on potential soil contamination. 52 53 At the request of Chair Maschka, Ms. Kelsey advised that staff was recommending that the 54 purchase be funded from the 724 Fund (Multi-family loan account), as those funds in the 55 amount of $688,000 were unrestricted, and would cover 100% of the purchase and require no