Stafford St 2521, to K MonahanMEMORANDUM
July 1, 2003
TO:
FROM:
SUBJECT:
The Honorable Mayor and City Council Members
Michael C. Van Miiligen, City Manager
Sale of Real Property located at 2521 Stafford Street
Housing and Community Development Department Director David Harris recommends
City Council approval of a resolution declaring intent to sell the property at 2521 Stafford
Street to Kristy Monahan-Smith for $71,500, and recommends that a public headng be
set for July 21,2003.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
David Hards, Housing and Community Development Department
CITY OF DUBUQUE, IOWA
MEMORANDUM
30 June 03
To: 1V'~ze Van Milligen, City Manager
From: David Harris, Housing and Commullity Development Department\
Re: Sale of Real Property located at 2521 Stafford Street
Introduction
The purpose of this memorandum is to request the City Council to set a public hearing for
the purpose of disposing of real estate located al 2521 Stafford Street in the City of
Dubuque.
Background
In March of this year, the Counc'd authorized the Hous'mg Department to purchase at
sheriff's sale a two-unit home on Stafford Street, due to a foreclosure action by the
principal lien holder. The Housing Department had made a rehab loan on the property in
1996, with a $24 000 balance remaining. The property was purchased for $47 500.
Shortly after that time, a fire destroyed a s'mgle-family residence on Madison Street,
displacing a single parent-headed household, with five young children. Since the fire, the
family had been living in the basement ofthe home ofthe grandparents.
We initiated discussions with Kristy Mom-Smith, owner of the fire-damaged home,
to det,.,,;ne the feasibility of rehabilitating the structure. Due to the extensive damage
and insufficient insurance coverage, however, Ms Monahan made a decision not to
attempt to restore her home.
Discussion
The Stafford house is a converted single-family, with two units and five bedrooms. It can
readily be re-converted with installation of a stairway. Rehab stat~ working with the
Monahan family, have reached agreement on a sale at $71 500. This amount will fully
return the City's investmem in the property.
Action Step
The action requested of the City Council is to adopt the attached resolution, declaring
intent to sell the property at 2521 Stafford Street to Kristy Monahan-Smith and setting the
public h~ng for that purpose on21 July 2003.
RESOLUTION NO. 230-03
RESOLUTION OF INTENTION TO DISPOSE OF CITY-OWNED PROPERTY,
SPECIFICALLY, LOT TWO (2) OF LOT ONE (1) AND THE EAST ONE-HALF (Etl2)
OF LOT FOUR (4) OF LOT TWO (2) BOTH IN GEIGER'S SUBDIVISION IN THE CITY
OF DUBUQUE, COUNTY, DUBUQUE, IOWA ACCORDING TO THE RECORDED
PLAT THEREOF; OTHERWISE KNOWN AS 2521 STAFFORD STREET.
WHEREAS, the City of Dubuque purchased at sheriff's sale the property at 2521
Stafford Street in order to recover a rehabilitation loan balance of $24 000; and
WHEREAS, a family displaced by fire from their homestead residence has
offered to purchase this property from the City.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the City of Dubuque, Iowa, intends to dispose of its interest in
the following legally-described property:
Lot Two (2) of Lot One (1) and the East One-half (El/2) of Lot Four (4) of Lot
Two (2) both in Geiger's Subdivision in the City of Dubuque, County of Dubuque,
Iowa according to the recorded plat thereof.
Section 2. That the City of Dubuque, Iowa proposes to dispose of its interest
in the above described real estate to Kristy Monahan-Smith for the sum of seventy-one
thousand five hundred dollars ($71 500).
Section 3. That the City Council meet in the Carnegie Stout Public Library
Auditorium, 11t~ and Bluff Streets, Dubuque, Iowa, at 6:30 pm on July 21, 2003, for the
purpose of holding a public hearing and taking final action on the disposition of the
above described real estate in the City of Dubuque, Iowa.
Section 4. That the City Clerk be and she is hereby authorized and directed to
cause a notice of such public hearing and the City Council's intent to dispose of such
property to be published as prescribed under Iowa Code Section 364.7.
Passed, approved and adopted this 7th day of July, 2003.
Terrance M. Duggan, Mayor
Attest:,
Jeanne F. Schneider, CMC City Clerk