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H.R.A. MEETING <br />2 MARCH 23, 1993 <br />3 PAGE 5 <br />4 <br />5 <br />6 8. DISCUSSION OF SELLING THE PROPERTY AT 3112 SILVER LAKE <br />7 ROAD <br />8 <br />9 The Executive Director advised that Requests for Proposals <br />10 were sent out and two offers were received. One was rejected <br />11 as it was for $5000.00. <br />12 <br />13 A $20,000 offer was made by Advance Design. Attached to the <br />14 offer was a letter stating how the offer price was determined. <br />15 The letter also stated a price of $7,000 should be allowed for <br />16 clean up of the lot. Some members of the H.R.A. felt this <br />17 figure was much too high. <br />18 <br />19 Staff prepared a map which showed the value of lots in the <br />20 immediate area of this one and are similar in size and <br />21 character. <br />22 <br />23 It was agreed that the lot should be sold for not less than <br />24 $25,000 and the buyer would be responsible for the lot clean <br />25 up and the associated costs. <br />0 Advance Design has indicated it is not willing to pay this <br />28 price. The Executive Director noted that there is always the <br />29 option to place a "For Sale" sign on the parcel. <br />30 <br />31 Motion by Enrooth, second by Marks to accept no offer less <br />32 than $25,000 for the lot at 3112 Silver Lake Road and the <br />33 buyer would be responsible for clean up of the lot. <br />34 <br />35 Motion carried unanimously <br />36 <br />37 The Executive Director noted that plans for this parcel must <br />38 come before the City Council for its approval. The Council <br />39 would still have an opportunity to put any restrictions on <br />40 this plan it desires. <br />41 <br />42 9. ADJOURNMENT <br />43 <br />44 Motion by Wagner, second by Marks to adjourn at 8:55 p.m. <br />45 <br />46 Motion carried unanimously <br />47 <br />48 Respectfully submitted, <br />49 <br />50 Jo -Anne Student, H.R.A. Recording Secretary <br />r 1 <br />U <br />