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2015_0323_CCpacket
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2015_0323_CCpacket
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REQUEST FOR COUNCIL ACTION <br /> Date: March 23, 2015 <br /> Item No.: 15.b <br />Department Approval City Manager Approval <br />Item Description: Dale Street Fire Station Site Redevelopment <br />B <br />ACKGROUND <br />1 <br />At its February 23, 2015 meeting, the City Council approved a motion to ask the RHRA if it <br />2 <br />would be willing to sell the RHRA owned property to the City of Roseville in order to facilitate <br />3 <br />quicker response time since the City Council meets several times every month and the deal <br />4 <br />negotiation process with the developer has been very fluid. <br />5 <br />On February 27, 2015, the RHRA held a special meeting to discuss the City’s request and <br />6 <br />offered a motion to authorize HRA staff and the HRA attorney to explore the correct legal <br />7 <br />process, begin negotiatons with the City and prepare the required documents necessary to sell the <br />8 <br />HRA owned parcels to the City. In addition, the RHRA indicated that its minimum purchase <br />9 <br />price for the land would need to be sufficient to replace all the funds that the RHRA has <br />10 <br />expended on the project and the transaction needs to relieve the RHRA of any further liability <br />11 <br />associated with the development. <br />12 <br />Land Purchase <br />13 <br />HRA staff has indicated that the total of all expenditures to date by the RHRA is $689,940.62. <br />14 <br />This expenditure amount includes a purchase price credit that was obtained because Jeanne <br />15 <br />Kelsey is a licensed broker and therefore the RHRA was able to capture the full $14,059.02 real <br />16 <br />estate brokerage commission from the sellers. <br />17 <br />The expenditures to date are only out of pocket expenses by the RHRA for the CDI process, <br />18 <br />lawn care, attorney fees, traffic study, property taxes, appraisals, demolition, environmental, <br />19 <br />securing the building and the reduced purchase price. No staff time, accounting costs, overhead <br />20 <br />or other indirect costs are included in the current expenditures amount. The total does include <br />21 <br />the credits that were received from salvage and Greater Metropolitan Housing Corporation’s <br />22 <br />(GMHC) escrow. <br />23 <br />In order to complete the transaction, it is anticipated that there will be additional costs incurred <br />24 <br />by the RHRA for preparation and review of closing documents as well as the closing costs. It is <br />25 <br />estimated that the amount of these future RHRA expenses will be approximately $5,000 – 7,000. <br />26 <br />Although the purchase of the property is from a related governmental entity, it is standard <br />27 <br />procedure that the City Council go into a closed session to discuss any contractual specifics. <br />28 <br />As with any City land transaction, this proposed purchase will need to be referred to the Planning <br />29 <br />Commission for its determination that the transaction is in conformance with the Comprehensive <br />30 <br />Plan. <br />31 <br />32 <br />Page 1 of 3 <br />
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