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<br />3.0 2190 St. Croix Street Propertv Facts <br /> <br />3,1 The home at 2190 St. Croix Street is a 1 story, single family dwelling with an <br />attached frame garage on a 75' x 104' irregular sized site, The property is <br />located in R-1 zoning West of Cleveland on the South side of the City, <br /> <br />3,2 The home was built in 1948, The square footage of the home is 1,360. The <br />home has three bedrooms, one bath and a full basement. The overall condition <br />of the home according to Ramsey County records is "average". Due to deferred <br />maintenance and according the City inspection, the home is in fair to poor <br />condition with foundation problems, buckling exterior siding and water damage. <br /> <br />3,3 The home is owned,by Daniel Bohen who is currently in a nursing home. The <br />daughter Kathy Wyman was directed to handling the sale of the home for her <br />father by the courts. The property pays taxes at a homestead rate and the <br />owner's son temporarily occupies the home, <br /> <br />3.4 The land has a 1997 assessed value of $31 ,800 and the improvements $51,100. <br />Total assessed value is $82,900. <br /> <br />4.0 Summary of Purchase Aqreement <br /> <br />4.1 City staff made an offer to purchase the home contingent upon Council approval, <br />for the appraised value of $60,000. The owner of the property is willing to accept the <br />offer. Earnest money provided by the City would be 1 % of the purchase price. <br /> <br />4.2 The closing date would be set for August 26, 1998 which is approximately 30 days <br />after execution of the purchase agreement if approved. <br /> <br />4.3 Taxes would be prorated from the date of closing with any delinquent taxes, <br />assessments, and fees paid by the seller prior to closing. <br /> <br />4.4 The seller will be required to sign well and lead disclosure statements and have any <br />existing wells sealed per Minnesota Health Department Standards. <br /> <br />5.0 Staff Recommendation <br /> <br />5.1 City staff recommends approval of the attached resolution to purchase 2190 St. <br />Croix Street under the Housing Replacement Program of the Housing Improvement <br />Program. Funding for the purchase and any fees associated with the purchase will <br />come from the City Housing Fund, <br /> <br />RCA - HRP, 2190 St. Croix 07/27/98 - Page 2 of 3 <br />