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685 W 32nd St House Purchase ... DUB~E ~YN-~ MEMORANDUM March 30, 2005 .,.---..; -...... , , . . TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager (~'I SUBJECT: Purchase of Property at 685 West 32nd Street Housing and Community Development Department Director David Harris is recommending City Council approval to purchase a residential dwelling for $88,000 located at 685 West 32nd Street owned by Gerald A. Roussel and Bonita J. Roussel. This purchase is part of the acquisition program for expansion of the West 32nd Street detention basin. I concur with the recommendation and respectfully request Mayor and City Council approval. MCVM/jh Attachment cc: Barry Lindahl, Corporation Counsel Cindy Steinhauser, Assistant City Manager David Harris, Housing and Community Development Department Director '" ThiB~E ~YN-~ MEMORANDUM 30 March 2005 To: Mike '3:\\ Milligen, City Manager From: David ~rrris, Housing and Community Development Department Re: Purchase of Property at 685 West 32nd Street Introduction The purpose of this memorandum is to request the City Council's approval to purchase a residential dwelling located at 685 West 32nd Street, as part of the acquisition program associated with expansion of the West 32nd Street detention basin. Background The 2001 HDR "Drainage Basin Master Plan" identified 16 homes to be purchased as part of the expansion of the West 32nd Street detention basin. A combination of excavation and installation of an earthen berm will double the storage capacity of this basin, from 46 to 94 acre-feet. This is projected to have the effect of substantially reducing peak flows and flooding depths in the upper portion of the Washington Street Subarea, north of 24th Street. The Fiscal Year 2004 CIP budget allocated $200000 for design and engineering and $563000 for acquisitions. Fiscal Year 2005 CIP budget allocated $437000 for additional purchases. Discussion The eighth home scheduled for purchase is owned by Gerald A. Roussel and Bonita J. Roussel. An independent appraisal has established market value at $88000. Mr. and Mrs. Roussel have accepted an offer for purchase in this amount by signing the acquisition contract offered by the Housing Department. Action Step The action requested of the City Council is to approve the attached resolution, authorizing purchase of property located at 685 West 32nd Street in the City of Dubuque, Iowa. 1 RESOLUTION NO. 126-05 A RESOLUTION APPROVING THE ACQUISITION OF REAL ESTATE LOCATED AT 685 WEST 32ND STREET, IN THE CITY OF DUBUQUE WHEREAS, the City of Dubuque intends to acquire certain properties located in the area adjacent to the West 32nd Street detention basin for purposes of 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 eighth 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 4 and 4A in Fink's Subdivision in the City of Dubuque, Iowa according to the Plat thereof in Dubuque County, Iowa At the cost of Eighty-eight thousand dollars ($88 000). 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 she 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 she 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 4th day of April, 2005. Terrance M. Duggan, Mayor Attest: Jeanne Schneider, CMC, City Clerk