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REQUEST FOR HRA ACTION Date: 5-19-15 Item No: 9a Staff Approval: Agenda Section: Item Description: House Replacement Program – 2986 Old Highway 8 Background 11.0 2Staff was contacted by Ms. Patty Kettles to determine if the HRA might have an interest in 3purchasing a home at 2986 Old Highway 8. Ms. Kettles has been appointed the personal 4representative for her sister’s estate and had noticed the property had previously received one of 5the letters from the HRA seeking potential candidate sites for the program. 6 7The site in question is a home constructed in 1936 with 640 s.f. of finished living area. The 8home sits on a 0.5 acre lot that is configured in a long and narrow configuration. The County’s 9current estimated market value is $152,100 or $6.98 per s.f. of redevelopment land (Attachment 10A). 11 12Subsequent to contacting staff, Ms. Kettles indicated that she was in the middle of negotiating a 13potential purchase with an adjacent property owner, but still wanted the item to come before the 14Board in case the negotiations fell through. Based on the discussion with Ms. Kettles, Staff 15believes there is a good chance this item could get pulled from the agenda at the May 19 meeting 16(if the adjacent property owner enters into a purchase agreement). 17 18Staff is seeking direction from the Board as to whether there is an interest in pursuing this 19opportunity further, understanding that any potential purchase effort would involve a due 20diligence and negotiation process that has not occurred at this time. If the Board chose to pursue 21this opportunity further, the action would not obligate the Board to make the purchase, only to 22direct staff to begin performing due diligence and negotiation. 23 24Depending on the direction the discussion takes, the Board could enter into discussions of 25purchase negotiation points. These discussion can occur in open session, but are legally allowed 26and generally preferred to occur in a closed session. 27 Alternative HRA Actions 282.0 By motion Alternative 1:, provide direction to Staff to begin the due diligence and negotiation processes for a potential purchase of 2986 Old Highway 8. By motion Alternative 2: , provide direction to Staff and Ms. Kettles that the HRA is not interested in the purchase of 2986 Old Highway 8 at this time. 29 30 Prepared by: Paul Bilotta, Community Development Director (651-792-7071) 31 Attachments: A: Ramsey County Parcel Report Potential Purchase of 2986 Old Highway 8 (05-19-15) - Page 1 of 1