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REQUEST FOR COUNCIL ACTION <br /> Date: May 23, 2016 <br /> Item No.: 14.b <br />Department Approval City Manager Approval <br /> <br />Item Description: Receive Update on Marion St. Park Proposal and Southeast Roseville Visioning <br /> <br /> <br />1 <br />B <br />ACKGROUND <br />2 <br /> <br />3 <br />Policy Priority: <br />Housing and Economic Development <br /> <br />4 <br />Strategic Initiative: <br />Focus on Southeast Roseville <br /> <br />5 <br /> <br />6 <br />The purpose of this discussion is to receive an update on the 1716 Marion St. Park proposal and to <br />7 <br /> <br />discuss current efforts with Southeast Roseville visioning. <br /> <br />8 <br /> <br />9 <br />1716 Marion St. Update and Next Steps <br />10 <br /> <br />11 <br />On January 25, the City Council adopted a resolution authorizing staff to apply for Community <br />12 <br />Development Block Grant (CDBG) funding and to support the Marion St. Park Collaborative with their <br />13 <br />application for a $50,000 U.S. Bank grant (. The <br />14 <br />funding sought was to acquire 1716 Marion Street and to develop it as a public park and play space. <br />15 <br /> <br />16 <br />The negotiated price for the sale of the property was $68,000, with a total cost to develop the site into a <br />17 <br />park (including financing costs, site work, and amenities) estimated to be $215,700. The City was <br />18 <br />awarded $117,400 of CDBG funds (Attachment A), however, it was announced at the beginning of May <br />19 <br />that the Marion St. Park Collaborative did not receive the $50,000 U.S. Bank grant. Without the <br />20 <br />$50,000 from U.S. Bank, staff estimates <br />21 <br />acquisition, development, and maintenance. See Attachment B for the memo previously provided by <br />22 <br />Parks & Recreation Director Lonnie Brokke detailing the costs to develop the site. An updated summary <br />23 <br />of sources and uses can be found as Attachment C. <br />24 <br /> <br />25 <br />Staff is seeking direction as to whether to move ahead with satisfying the terms of the purchase <br />26 <br />agreement as outlined below: <br />27 <br /> <br />28 <br />Purchase Agreement Contingencies (Attachment D) <br />29 <br /> <br />The City must pay the Seller $500.00 by June 1 (June 2 for receipt of payment) to satisfy the <br />30 <br />Financial Contingency Date. <br />31 <br /> <br />The City must satisfy all other contingencies by August 1. <br />32 <br /> <br />Closing date is scheduled for August 12. <br />33 <br /> <br />34 <br />Page 1 of 3 <br /> <br />