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<br /> <br /> <br /> <br /> <br />REQUEST FOR HOUSING & REDEVELOPMENT AUTHORITY (HRA) <br />CONSIDERATION <br />   <br />  <br />Meeting Date: December 11, 2018 <br /> <br /> <br /> Resolution- a Resolution Authorizing the Purchase of Property Located at 3803 Stinson Blvd. <br /> <br />OVERVIEW: <br />In front of you this evening is a resolution authorizing the purchase of property located at 3803 Stinson <br />Blvd. <br /> <br />Staff was approached by the Department of Justice’s realtor who is representing the US Marshal’s seized <br />property at 3803 Stinson Blvd. The United States Government has offered to sell the property for a <br />purchase price of $250,000. The property is located within the previously approved Silver Lake Village <br />redevelopment plan which allows Tax Increment Financing (TIF) funds to be expended to purchase <br />property covered by the approved plan. The TIF would come from the TIF 3-5 Silver Lake Village district. <br />This property is guided as multi-family residential in the 2008 and proposed 2018 Comprehensive Plan. <br /> <br />Staff recommends the HRA Board authorize the Chair (Mayor) and HRA Executive Director (City <br />Manager) to negotiate and finalize the purchase of the property to not exceed $250,000, retain consultants <br />necessary for due diligence actions (such as a survey and Phase I environmental review) and customary <br />closing costs. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />