Laserfiche WebLink
<br />3.0 Purchase and Redeve/oDment Aareement Summary <br /> <br />3.1 Larry Ulm from Southwind Builders is offering to purchase the property for <br />$35,000, demolish the existing home and build a three bedroom 2 bath single <br />family home with a two-car extended garage for additional storage. <br /> <br />3.2 The home would consist of 1,388 sq.ft finished space. In addition, there will be an <br />unfinished family room and % bath in the lower level. (Attachment A - draft <br />building plan). Additional modifications will be made to the exterior to ensure <br />quality street appeal from both William and Burke Street. <br /> <br />3.3 It is estimated that the home will have a market value of $149,900. This will <br />generate approximately $2,023 in new taxes annually, of which $364 comes <br />directly to the City. <br /> <br />3.4 The purchase agreement and performance bonds will require that the property be <br />sold on a contract for deed which will be released upon satisfactory completion of <br />the construction which will include landscaping and any other requirements per <br />the Housing Replacement Program Design and Site Criteria. (attachment B). <br /> <br />3.5 The City Attorney is reviewing the purchase and redevelopment agreement and <br />any modifications will be incorporated after the Council Meeting. <br /> <br />3.6 The sale would be contingent upon receiving the title for the vacant land on Burke <br />from the County, naming the City of Roseville as owner. Staff is in contact with <br />the County and has been assured that it is in the process and should be delivered <br />within the next few weeks. <br /> <br />4.0 Staff Recommendation <br /> <br />The staff recommends approval of the resolution (Attachment C) to sell the property at <br />2100 William Street and vacant land on Burke as part of the Housing Replacement <br />Program to Southwind Builders for the construction of a three bedroom, two bath single <br />family home. The resolution provides the City Manager and Mayor the authorization to <br />execute the purchase agreement as approved by the City Attorney. <br /> <br />5.0 Suaaested Action <br /> <br />By resolution, approve the sale of 2100 William Street and vacant land on Burke Street for <br />$35,000 and the authorization for the City Manager and Mayor to execute a purchase <br />agreement contingent upon City Attorney review and approval. <br /> <br />Attachments: A. Site Plan, B. Housing Replacement Program Design and Site Criteria, C. Resolution. <br />Prepared by: Cathy Bennett, 490-2241 <br /> <br />RCA - 2100 William 09/28/98 - Page 2 of 2 <br />