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REQUEST FOR HRA ACTION <br />Date: 6-18-13 <br />Item No: 9b <br />Staff Approval: Agenda Section: <br /> Action Item <br />Roseville Housing Replacement Program <br />Background <br />Requested Action <br />1.0 <br />Give direction to staff regarding two parcels that property owners are interested selling to the <br />RHRA for the Roseville Housing Replacement Program. <br />Background <br />2.0 <br />The RHRA staff identified about 30 Roseville properties that have an overall value of <br />less than $120,000, with structures valued less than $75,000, and no building permits <br />pulled in 20+ years. There are 3 owners who have contacted RHRA staff and 2 are <br />interested in pursuing the RHRA to purchase their properties. <br />The first home under consideration is 1840 Hamline Avenue N, which was built in 1930 <br />and has a 2014 assessed land value of $80,300 and home value of $23,000; the second <br />home under consideration is 297 County Road B, which was built in 1947 and has a 2014 <br />assessed land value of $47,600 and home value of $51,700. <br />Both owners are interested in entering into a Letter Of Intent (LOI). This was a similar <br />process that was used when purchasing 2325 Dale Street. The RHRA entered into a LOI <br />with contingencies based on agreed sale price from an appraisal, authorization of the <br />RHRA board to purchase the property, and closing process. <br />Because the 1840 Hamline Avenue home is older and is substantially lower in value, staff <br />is recommending pursuing that home at this time. <br />Staff Recommended Action <br />3.0 <br />Staff is recommending authorizing staff to enter into a LOI to purchase 1840 Hamline <br />Avenue. <br />Prepared by: Jeanne Kelsey, Acting HRA Executive Director (792-7086) <br />Attachments: Aerial’s of Subject Properties <br /> Pictures of existing homes <br /> <br />Roseville Housing Replacement Program - Page 1 of 1 <br /> <br />