Agenda Packets - 1995/07/10 - Laserfiche WebLink

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REQUEST FOR COUNCIL CONSIDERATIONnior Agenda Section: 6. ODS Report Number: 95-1400WS STAFF REPORT AGENDA SESSION DATE JULY 10, 1995 OK Report Date: 7-06-95 DISPOSITION Item Description: Discussion of Highway 10 Properties Administrator's Review/Recommendation: - No comments to supplement this report A • it. - Comments attached. Explanation/Summary (attach supplement sheets as necessary.) SUMMARY; The following is an update on several properties that were discussed at the work session on June 10, 1995. 2625 Highway 10 (Blue House near Hardees): I met with the owner of the property, John Hildreth, last week. Mr. Hildreth has been the owner of the property for over four years; After the fire, which was started in the under grade garage, Mr. Hildreth decided to convert the single family home into three separate apartments. After making the improvements, he found out that he was required to improve the driveway and provide garages for any potential tenants. Subsequently, Mr. Hildreth will be relocating out of the State and is very interested in selling the property. He is asking $150,000 and has an appraisal on the "triplex" for $137,000. According to Ramsey County, in 1994 the house had an assessed value of the following: Land $24,400 Building $40,000 _ Total $64,400 Total Taxes $910.30/year City's Portion $164/year Mr. Hildreth is willing to work with the City. If the council is interested in negotiating with the owner, it is recommended to have the property appraised as a single family residence. & 1y �r Cathy Bennett, Economic Development Coordinator RECOMMENDATION;