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gird:'MY REQUEST FOR COUNCIL CONSIDERATION Agenda Section I I <br /> • <br /> STAFF REPORT Report Number: 11F F l • <br /> I l it illi jib Report Date: 9/19/96 <br /> • CITY COUNCIL MEETING DATE — <br /> ��: ir- Special Order of Bus. <br /> Dig;,a; September 23. 1996 — Consent Agenda <br /> 'per <br /> /r'ess.Partne044 g <br /> Public Hearings <br /> X Council Business <br /> Item Description: Consideration of the purchase of two tax forfeited properties <br /> Administrator's Review/Recommendation: <br /> -No Comments to supplement this report <br /> -Comments attached. <br /> Explanation/Summary(attach supplement sheets as necessary) <br /> Summary: <br /> The City has been notified that two contiguous properties are up for tax forfeiture. Enclosed are two maps <br /> indicating the location, size and dimensions of the lots. The tax forfeited properties are blocked and marked <br /> with lines. The other blocked lot is one currently owned by the City of Mounds View. <br /> The full lot (07-30-23-32-0016) is approximately 104'x 645' (or 67,080 square feet)with an assessed tax <br /> value of$65,500. It is a buildable lot as is. The back lot of 2946 County Road H2 (07-30-23-32-0004) has a <br /> lot size of 104'x 500' (or 52,000 square feet)with an assessed tax value of$19,400. This lot is not buildable <br /> 410yit does not have road access. The other lot marked on the map adjacent to the tax forfeited lots is owned <br /> the City of Mounds View. <br /> Purchasing these two lots in the vicinity of other property owned by the City presents the possibility of <br /> redeveloping the area under the Housing Replacement Program. <br /> Listed below is a breakdown of the purchase costs for the tax forfeited properties: <br /> 07-30-23-32-0004 07-30-23-32-0016 <br /> Purchase Price $10,000.00 $32,800.00 <br /> 3% Assurance Fee 300.00 984.00 <br /> State Deed Fee 25.00 25.00 <br /> Recording Fee 19.50 19.50 <br /> Ag/Con Fee 5.00 5.00 <br /> Deed Tax Stamp 33.00 108.90 <br /> T I ' • : $10,382.50 $33,942.40 <br /> IF •i er Be • an, Hot/ging Inspector <br /> COMMENDATION: Recommend to the Economic Development Authority for approval of <br /> purchasing the two tax forfeited properties for the Housing Replacement <br /> Program. <br />