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<br />~ <br /> <br />REQUEST FOR CITY COUNCIL ACTION <br />DA TE: 04127/98 <br />ITEM NO: <br /> <br />Manager Approval: Agenda Section: <br />Report/Recommendation. <br /> <br />Roseville Housing Improvement Program (PF;f!3018) <br />Housing Replacement Program - 2668 Lexington Avenue. ___ <br /> <br /> <br />1.0 Reauested Action <br /> <br />1.1 City staff is requesting the approval of the purchase of 2668 Lexington Street as part <br />of the implementation of the Housing Replacement Program under the Roseville <br />Housing Improvement Program. Roseville Housing Fund would be used for the <br />purchase and administrative fees associated with the purchase, if approved. <br /> <br />2.0 Background <br /> <br />2.1 A housing replacement program was established in 1996 to help the City purchase <br />outdated or non-code compliant structures that could not be economically <br />rehabilitated or sold on the open market. The purpose of the program is to replace <br />deteriorating lower value housing on scattered sites throughout the City with larger, <br />higher value housing designed for families. The goal of the program is to increase <br />the property value of the home and improve the value and aesthetics of the <br />neighborhood properties. The property at 2668 Lexington Street is in the City <br />Center Redevelopment Area and could be an area replaced with new single or <br />multi-family housing. <br /> <br />2.2 Several homes have been identified as candidates for voluntary purchase under the <br />program. The homes were targeted using Ramsey County assessed values of <br />under $65,000 and homes that were rated in poor condition. <br /> <br />2.3 The home located at 2668 Lexington has an assessed value of $64,800 and is rated <br />in below average condition according to Ramsey County Property records. <br /> <br />2.4 In March the home was put on the market for an asking price of $64,900. City <br />Building Inspector Don Munson inspected the interior and exterior condition of the <br />home to ensure that its condition was substandard. Although the exterior of the <br />home seems to be in fair condition with new siding, the interior has significant water <br />damage, sagging bearing walls, foundation cracks and exposed electrical wiring. <br /> <br />RCA - 2668 Lexington 04/27/98 - Page 1 of 3 <br />