CC PACKET 05221984 - Laserfiche WebLink

Home Browse Search

r CITY 'OF 'ST.- ,ANTHONY 5 REQUEST FOR:`H..R_A. ACTION --------------------------------------------------------------------------- Date Submitted Type of ,.Action Requested Agenda Ttem hummer Resolution New Busimess=2 June 22, 1984 Ordinance Date Action Requested X Formal Action/Motion 'Title Walton Property Other June 26' lg84 ;} ---------------------------------------------------------- TO: Chairman and H.R.A. Members FROM: David M. Childs, City Manager ------------------------------------------------------------------------ SUMMARY DISCUSSION OF SUBJECT: Attached are three cash flows for the proposed Walbon redevelopment project at 33rd and Highcrest. Schedule A is for a 32 unit townhouse development with no land sale proceeds.. Schedule B is for the same development with land sale proceeds of $4,000 per unit. Schedule C is for a single family subdivision of 9 lots witty domes valued at $100,000 each, all of which would be totally completed by January .of 1987. As you will note, all of the proposals riequIre a 25 year bond issue and all require a tax levy to cover the debt. Schedule B, however, is very close to being self- supporting. With a lower land purchase cost and a higher level of land sale • proceeds, it is our opinion that the project is feasible. We should discuss the project at the meeting, but based on this information, if you wish to proceed, several actions are necessary. 1 . Authorize a land and building appraisals of the property. 2. Authorize a relocation appraisal . 3. Authorize the Executive Director to begin negotiations with Dick Krier for an agreement for redevelopment consultant services. RECOMMENDATION: I recommend that the appraisals be ordered and that we get a written agreement with Dick Krier. CITY MANAGER'S REVIEW: COMMENTS : �, 0 Rk,