Purchase of Property_Junnie and Rich's Coin PartnershipTO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Commercial Property Purchase for Bee Branch Restoration Project
DATE: October 14, 2008
City Engineer Gus Psihoyos recommends City Council approval to purchase two
parcels of commercial property owned by Junnie & Rich's Coin Partnership for
$205,000.
An independent appraisal established the market value at $100,500 for the parcel
legally described as Lot 353 and the Eastern One-Half of Lot 352, in East Dubuque No.
2, all in the City of Dubuque, Dubuque County, Iowa. An independent appraisal
established the market value at $100,500 for the parcel legally described as Lot 319
and Westerly One Half of Lot 352, in East Dubuque No. 2, all in the City of Dubuque,
Dubuque County, Iowa.
Junnie & Rich's Coin Partnership has accepted an offer of $205,000 for both parcels, or
$4,000 more than the appraised value.
This purchase is part of the acquisition program associated with the Bee Branch Creek
Restoration Project.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Gus Psihoyos, City Engineer
THE CITY OF Dubuque
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TO: Michael Van Milligen, City Manager
FROM: Gus Psihoyos, City Engineer ~~~
SUBJECT: Commercial Property Purchase for the Bee Branch Restoration Project
DATE: October 14, 2008
INTRODUCTION
The purpose of this memorandum is to request City Council approval to purchase a
commercial property owned by Junnie & Rich's Coin Partnership as required for the Bee
Branch Creek Restoration Project.
BACKGROUND
In December of 2001, the City Council formally adopted the Drainage Basin Master Plan
(DBMP) prepared by HDR Engineering (Omaha, Nebraska). Based on the study,
approximately 1,150 homes and businesses in the Bee Branch watershed are at risk of
flood damage.
In December of 2004, the City Council established the alignment for the Bee Branch
Creek Restoration Project, from 15th and Sycamore Streets to 24th and Washington
Streets, and established a building permit moratorium for the properties impacted based
on the alignment.
In 2005, the City Council authorized the City Manager to enter into a contract with
Graham Land Acquisition Associates (now JCG Land Services, Inc.) to assist with the
acquisition of the commercial properties south of 16t" Street required for the Bee Branch
project.
DISCUSSION
An independent appraisal of the property owned by Junnie & Rich's Coin Partnership
legally described as Lot 353 and the Eastern One-Half of Lot 352, in East Dubuque No.
2, all in the City of Dubuque, Dubuque County, Iowa has established the market value
at $100,500. Junnie & Rich's Coin Partnership has accepted an offer for purchase in an
amount of $102,500, $2,000 more than the appraised value.
An independent appraisal of the property owned by Junnie & Rich's Coin Partnership
legally described as Lot 319 and Westerly One-half of Lot 352, in East Dubuque No. 2,
all in the City of Dubuque, Dubuque County, Iowa has established the market value at
$100,500. Junnie & Rich's Coin Partnership has accepted an offer for purchase in an
amount of $102,500, $2,000 more than the appraised value.
RECOMMENDATION
recommend that the City purchase each property for $2,000 over the appraised value.
BUDGET IMPACT
The purchase will be funded from the FY2009 appropriation of $3,902,395 for property
acquisitions for the Bee Branch Creek Restoration Project (CIP 7201654).
ACTION TO BE TAKEN
I respectfully request adoption of the attached resolutions authorizing the purchase of
the property owned by Junnie & Rich's Coin Partnership legally described as Lot 353
and the Eastern One-Half of Lot 352, in East Dubuque No. 2, all in the City of Dubuque,
Dubuque County, Iowa and Lot 319 and Westerly One-Half of Lot 352, in East Dubuque
No. 2, all in the City of Dubuque, Dubuque County, Iowa.
Prepared by Deron Muehring, Civil Engineer II
cc: Jenny Larson, Budget Director
RESOLUTION NO. 366-08
A RESOLUTION APPROVING THE ACQUISITION OF REAL ESTATE OWNED
BY JUNNIE AND RICH'S COIN PARTNERSHIP IN THE CITY OF DUBUQUE
Whereas, the City of Dubuque intends to acquire certain properties
located in the area of the Bee Branch Creek Restoration Project for stormwater
mitigation activities as recommended in the 2001 HDR "Drainage Basin Master
Plan;" and
Whereas, a purchase agreement has been finalized with the owner of the
property scheduled for acquisition,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF DUBUQUE, IOWA:
Section 1. That the City of Dubuque hereby approves the acquisition of
the following legally described property:
Lot 319 and Westerly One-Half of Lot 352, in East Dubuque No. 2, all in
the City of Dubuque, Dubuque County, Iowa
At the cost of One Hundred Two Thousand Five Hundred and 00/100 Dollars
($102,500.00).
Section 2. That the City of Dubuque be and is hereby authorized to
accept a Quit Claim deed from the owner, conveying the owner's interest to the
City of Dubuque, Iowa for the herein described real estate.
Section 3. That the City Clerk be and is hereby authorized and directed
to cause said Quit Claim Deed to be recorded in the office of the Dubuque
County Recorder, together with certified copy of the Resolution.
Section 4. That the City Clerk be and is hereby directed to forward a
copy of this Resolution to the Dubuque County Assessor and the Dubuque
County Auditor.
Passed, approved, and adopted this 20th day of October, 2008.
Roy D. Buol, Mayor
Attest:
Jeanne F. Schneider, CMC, City Clerk
RESOLUTION NO. 367-08
A RESOLUTION APPROVING THE ACQUISITION OF REAL ESTATE OWNED
BY JUNNIE AND RICH'S COIN PARTNERSHIP IN THE CITY OF DUBUQUE
Whereas, the City of Dubuque intends to acquire certain properties
located in the area of the Bee Branch Creek Restoration Project for stormwater
mitigation activities as recommended in the 2001 HDR "Drainage Basin Master
Plan;" and
Whereas, a purchase agreement has been finalized with the owner of the
property scheduled for acquisition,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF DUBUQUE, IOWA:
Section 1. That the City of Dubuque hereby approves the acquisition of
the following legally described property:
Lot 353 and the Eastern One-Half of Lot 352, in East Dubuque No. 2, all in
the City of Dubuque, Dubuque County, Iowa.
At the cost of One Hundred Two Thousand Five Hundred and 00/100 Dollars
.($102,500.00).
Section 2. That the City of Dubuque be and is hereby authorized to
accept a Quit Claim deed from the owner, conveying the owner's interest to the
City of Dubuque, Iowa for the herein described real estate.
Section 3. That the City Clerk be and is hereby authorized and directed
to cause said Quit Claim Deed to be recorded in the office of the Dubuque
County Recorder, together with certified copy of the Resolution.
Section 4. That the City Clerk be and is hereby directed to forward a
copy of this Resolution to the Dubuque County Assessor and the Dubuque
County Auditor.
Passed, approved and adopted this 20th day of October, 2008.
Roy D. Buol, Mayor
Attest:
Jeanne F. Schneider, CMC, City Clerk