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1) Offer first right of refusals to the owners. This would provide security that when they are interested in selling the City would be able to make an offer first. Once assembled, the properties would be sold to a homebuilder for a new subdivision. 2) Market the area to homebuilders and encourage them to assemble the parcels for a new subdivision. 3) Do nothing. At a minimum the home at 450 W County Road B would likely sell and remain in its current form. 4.2 335 Burke Street: This home is also very small with a full unfinished basement on an average sized lot. The home has been well maintained aesthetically but does need typical maintenance repairs such as a new roof, soffits, water heater and furnace. Mildred Bucher who is currently living in an elder care home owns the home. Her granddaughter Angie Reitmeier is handling the sale of the home and mentioned that the great granddaughter may be interested in purchasing the home but probably could not handle the mortgage payments plus make the necessary improvements needed. Staff would like to work with the family and combine a first time homebuyer loan with a low-interest deferred loan for the necessary improvements. 5.0 Staff Recommendation 5.1 2190 St. Croix Street - Pursue purchasing the home under the housing replacement program and order an appraisal to determine the value of the home. Once the appraisal is complete, negotiate with the owner on a purchase price and bring a purchase agreement back to Council for consideration. 5.2 450 W County Road B - Staff would recommend working with homebuilders for the phased redevelopment of the homes on County Road B from 450 W B east to 436 W B (see possible site configuration). It is estimated that assembling three parcels could accommodate 4-5 new homes with a cul-de-sac directing the frontage of the new homes away from the busy County Road. Staff would recommend meeting with the homeowners prior to contacting any homebuilders and explain the City's role as a facilitator. The homeowner at 450 W County Road B has indicated that her neighbors may be interested in selling at some point in the future. Any proposal from a homebuilder would need to go through the normal planning process with public hearings and plan review. 5.3 335 Burke Street - Staff would recommend assisting the existing family in making the necessary improvements to the home plus work with local lenders to provide the great granddaughter with a first time homebuyer loan. If approved, staff would RCA - HRP, 2190 St. Croix 06/22/98 - Page 3 of 4