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1 H.R.A. MEETING <br /> 40 NOVEMBER 24 , 1992 <br /> PAGE 3 <br /> 4 <br /> 5 <br /> 6 Chairperson Ranallo inquired if all of these claims will be <br /> 7 charged back to various accounts or if they would be paid by <br /> 8 the H.R .A. The City Manager responded that all will be charged <br /> 9 back but there will be reimbursement for some . He listed those <br /> 10 charges which will be reimbursed . <br /> 11 <br /> 12 The Housing and Redevelopment Authority went into a closed session <br /> 13 at 8 : 05 p.m. <br /> 14 <br /> 15 The closed session was adjourned at 8 : 35 p.m. and the regular <br /> 16 H.R.A. Meeting was reconvened. <br /> 17 <br /> 18 6. Home for Sale on Silver Lake Road and Townview <br /> 19 <br /> 20 The City Manager met with the owner and the real estate agent <br /> 21 regarding the sale of the property on the corner of ' Silver <br /> 22 Lake Road and Townview. The lot is 66 ' by 160 ' and fronts on <br /> 23 Silver Lake Road . <br /> 24 <br /> 25 The asking price is $49, 900 and presently it is rental <br /> 26 property. <br /> 7 <br /> The Planning Commission is recommending that the property be <br /> allowed to remain on the market for some time longer to see <br /> 30 what could be done with a private sale . <br /> 31 <br /> 32 The City Manager felt the City could probably sell it for <br /> 33 $39 , 000 which would mean a fourteen year payback and it would <br /> 34 have non-homestead taxes applied . Currently, non-homestead <br /> 35 taxes are $1 , 400 . It if were homesteaded the taxes would be <br /> 36 approximately $600 . <br /> 37 <br /> 38 Commissioner Enrooth suggested that the City offer the owner <br /> 39 $40 , 000 . It was noted that there is a similar sized home in <br /> 40 the area and both of these homes change the character of the <br /> 41 neighborhood. <br /> 42 <br /> 43 The H.R.A. attorney advised that this acquisition could be <br /> 44 done legally and excess H.R.A. funds could be used. To use <br /> 45 these funds the property need not be in a TIF District . <br /> 46 <br /> 47 The Executive Director stated that the H.R.A. levy covers any <br /> 48 salaries . . <br /> 49 <br /> 50 <br />