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1 H.R.A. MEETING <br />NOVEMBER 24, 1992 <br />PAGE 3 <br />5 <br />The Planning Commission is recommending that the property <br />be <br />6 <br />allowed to remain on the market for some time longer to <br />Chairperson Ranallo inquired if all of these claims will be <br />7 <br />what could be done with a private sale. <br />charged back to various accounts or if they would be paid by <br />8 <br />the H.R.A. The City Manager responded that all will be charged <br />9 <br />The City Manager felt the City could probably sell it <br />back but A here will be reimbursement for some. He listed those <br />10 <br />$39,000 which would mean a fourteen year payback and it would <br />charges which will be reimbursed. <br />11 <br />have non -homestead taxes applied. Currently, non -homestead <br />12 <br />The <br />Housing and Redevelopment Authority went into a closed session <br />13 <br />at <br />8:05 p.m. <br />14 <br />15 <br />The <br />closed session was adjourned at 8:35 p.m. and the regular <br />16 <br />H.R.A. <br />Meeting was reconvened. <br />17 <br />the area and both of these homes change the character of <br />the <br />18 <br />6. <br />Home for Sale on Silver Lake Road and Townview <br />19 <br />20 <br />The H.R.A. attorney advised that this acquisition could <br />The City Manager met with the owner and the real estate agent <br />21 <br />done legally and excess H.R.A. funds could be used. To <br />regarding the sale of the property on the corner of Silver <br />22 <br />these funds the property need not be in a TIF District. <br />Lake Road and Townview. The lot is 66' by 160 ' and fronts on <br />23 <br />Silver Lake Road. <br />24 <br />The Executive Director stated that the H.R.A. levy covers <br />any <br />25 <br />salaries. <br />The asking price is $49,900 and presently it is rental <br />26 <br />property. <br />27 <br />• <br />The Planning Commission is recommending that the property <br />be <br />allowed to remain on the market for some time longer to <br />see <br />30 <br />what could be done with a private sale. <br />31 <br />32 <br />The City Manager felt the City could probably sell it <br />for <br />33 <br />$39,000 which would mean a fourteen year payback and it would <br />34 <br />have non -homestead taxes applied. Currently, non -homestead <br />35 <br />taxes are $1,400. It if were homesteaded the taxes would <br />be <br />36 <br />approximately $600. <br />37 <br />38 <br />Commissioner Enrooth suggested that the City offer the owner <br />39 <br />$40,000. It was noted that there is a similar sized home <br />in <br />40 <br />the area and both of these homes change the character of <br />the <br />41 <br />neighborhood. <br />42 <br />43 <br />The H.R.A. attorney advised that this acquisition could <br />be <br />44 <br />done legally and excess H.R.A. funds could be used. To <br />use <br />45 <br />these funds the property need not be in a TIF District. <br />46 <br />47 <br />The Executive Director stated that the H.R.A. levy covers <br />any <br />48 <br />salaries. <br />49 <br />50 <br />• <br />