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Sale of Property_2315 Jackson StreetMasterpiece on the Mississippi TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Sale of Property at 2315 Jackson Street DATE: October 31, 2011 Dubuque M- Americacity 11 111.1 2007 Housing and Community Development Department Director David Harris recommends City Council approval of the sale of City -owned real property located at 2315 Jackson Street to Raymond Pfeiffer for the purchase price of $74,500. At its October 17, 2011 meeting, the City Council, by passage of Resolution No. 352 -11 declared its intent to dispose of City -owned property at 2315 Jackson Street. This home was acquired by the Housing Department at Sheriff Sale in 2010 and subsequently renovated by HEART Program students using Neighborhood Stabilization Program (NSP), Community Development Block Grant (CDBG), and Lead Paint Program funds in the total amount of $75,886 to renovate the property and prepare it for re -sale. Raymond Pfeiffer, a new homebuyer, has agreed to purchase the property at 2315 Jackson Street for $74,500. As a requirement of the NSP Program, he has attended HUD certified financial counseling classes. Financing to Mr. Pfeiffer will be provided through a first mortgage from DB &T, owner downpayment of $2,235 and a forgivable loan from the NSP Program. 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 David Harris, Housing and Community Development Department Director Masterpiece on the Mississippi Dubuque All Amedcarity 2007 TO: Michael Van Milligen, City Manager FROM: David Harris, Housing and Community Development Department SUBJECT: Sale of property at 2315 Jackson Street DATE: 20 October 2011 Introduction The purpose of this memorandum is to request approval of the attached resolution authorizing sale of a home at 2315 Jackson Street. Discussion At its 17 October 2011 meeting, the City Council, by passage of Resolution No. 352 -11 declared its intent to dispose of City -owned property at 2315 Jackson Street. This home was acquired by the Housing Department at Sheriff Sale in 2010 and subsequently renovated by HEART Program students using Neighborhood Stabilization Program (NSP), Community Development Block Grant (CDBG), and Lead Paint Program funds in the total amount of $75,886 to renovate the property and prepare it for re -sale. Raymond Pfeiffer, a new homebuyer, has agreed to purchase the property at 2315 Jackson Street for $74,500. As a requirement of the NSP Program, he has attended HUD certified financial counseling classes. Financing to Mr. Pfeiffer will be provided through a first mortgage from DB &T, owner downpayment of $2,235 and a forgivable loan from the NSP Program. The attached resolution approves sale of the property to Raymond Pfeiffer. Action Step The action requested of the City Council is to approve the attached resolution, approving the sale of the home at 2315 Jackson Street. KLN RESOLUTION NO. 373 -11 A RESOLUTION APPROVING THE SALE OF REAL ESTATE SPECIFICALLY— 2315 JACKSON STREET WHEREAS, pursuant to a notice, duly published in the Telegraph Herald newspaper, in the City Council of Dubuque, Iowa, met on the October 17, 2011, in the Dubuque Historic Federal Building, 350 West 6th Street, Dubuque, Iowa to consider the proposal to dispose of City -owned real estate located at 2315 Jackson Street. East 1/2 of Lot 24A in L.H. Langworthy's Addition in the City of Dubuque, Iowa, County of Dubuque, Iowa, according to the recorded plat thereof WHEREAS, a qualifying home buyer, Raymond Pfeiffer, has signed an offer to purchase and has obtained financing from a local lender; and WHEREAS, the City Council of the City of Dubuque, Iowa has overruled any and all objections, oral and written, to the proposal to dispose of the interest of the City of Dubuque, Iowa, in the herein and above -named real estate to the above -named grantee. 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 sale of the following legally - described property: East'/ of Lot 24A in L.H. Langworthy's Addition in the City of Dubuque, Iowa, County of Dubuque, Iowa, according to the recorded plat thereof, at the cost of Seventy -Four Thousand Five Hundred Dollars ($74,500). Section 2. That the City of Dubuque be and is hereby authorized to provide a Warranty Deed to the buyer, conveying the City's interest to Raymond Pfeiffer for the herein - described real estate. Section 3. That the City Clerk be and he is hereby authorized and directed to cause said Warranty 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 he is hereby authorized and directed to forward a copy of this Resolution to the Dubuque Count Assessor and the Dubuque County Auditor. PASSED, APPROVED AND ADOPTED this 7th day o November 2011. Roy D uol, Mayor Attest: Kevi S. Firnstah', City Clerk NOTICE OF A PUBLIC HEARING OF THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA, ON THE MATTER OF THE INTENT TO DISPOSE OF AN INTEREST IN REAL PROPERTY PUBUC NOTICE is hereby given that the City Council of the City of Dubuque, Iowa, will hold a public hearing on the 7th day of November, 2011, at 6:30 p.m. in the Historic Federal Building, 350 West Sixth Street, Dubuque, Iowa,, at which meeting the City Council proposes to dispose of an interest In the following described real property by resolution to Raymond A. Pfeiffer: East �fi of Lot 24A in L.H. Langworthy's Addition in the City of Dubuque, County of Dubuque, Iowa, Ac- cording to . the Recorded Plat Thereof (2315 Jackson Street) At the meeting, the City Council will receive oral and written objections from any resident or property owner of said City to the above action. After all objec- tions have been received and con- sidered, the City Council may at this meeting or at any adjournment thereof, take additional action for the disposition of the City's interest in such real estate above, or will abandon the proposal. By order of the City Council said hearing and appeals there from shall be held in accordance with and governed by the provisions of Section 364.7 of the Code of Iowa. Any visual or hearing - impaired persons need- ing special assistance or persons with special accessibility needs should contact the City Clerk's office at (563) 589 -4120 or TDD at (563) 590 -6678 at least 48 hours prior to the meeting. Dated this 21st day of October, 2011. Kevin S. Fimstahl City Clerk It 10/17 STATE OF IOWA {SS: DUBUQUE COUNTY CERTIFICATION OF PUBLICATION I, Suzanne Pike, a Billing Clerk for Woodward Communications, Inc., an Iowa corporation, publisher of the Telegraph Herald,a newspaper of general circulation published in the City of Dubuque, County of Dubuque and State of Iowa; hereby certify that the attached notice was published in said newspaper on the following dates: October 21, 2011, and for which the charge is $21.80. -'1-Q 1 C P Subscribed to before me, a Notar Public in and for Dubuque County, Iowa, this AO day of , 20/7 . otary Public in and for Du uque County, Iowa.