514 Lincoln, purchase for Bee Branch Pro
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MEMORANDUM
April 25, 2005
TO:
The Honorable Mayor and City Council Members
FROM:
Michael C. Van Milligen, City Manager
SUBJECT: Purchase of Property at 514 Lincoln Street
Housing and Community Development Department Director David Harris recommends
City Council approval to purchase a residential dwelling for $45,000 located at 514
Lincoln Street owned by Household Finance Industrial Loan Company of Iowa. 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.
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Michael C. Van Milligen
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Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
David Harris, Housing and Community Development Department
Gus Psihoyos, City Engineer
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H&CD
Housing and Community Development Department
1805 Central Avenue
Dubuque, Iowa 52001-3656
(563) 589-4239 office
(563) 589-4244 fax
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22 April 2005
To: Mike ~\\Milligen, City Manager
From: David Harris, Housing and Community Development Department
Re: Purchase of Property at 514 Lincoln Street
Introduction
The purpose of this memorandum is to request the City Council's approval to
purchase a residential dwelling located at 514 Lincoln Street, as part of the
acquisition program associated with the Bee Branch Creek Restoration Project.
Background
The 2001 HDR "Drainage Basin Master Plan" identified 70 homes to be
purchased as part of the Bee Branch Creek Restoration Project. To date the City
Council has approved a preliminary right of way design and the properties that
will be impacted have been identified.
The Fiscal Year 2005 CIP budget allocated $100 000 for acquisitions.
Discussion
The first home scheduled for purchase is owned by HSBC (Household Finance
Industrial Loan Company of Iowa.) They received ownership due to a
foreclosure. An independent appraisal has established market value at $45 000.
HSBC accepted an offer for purchase in this amount by signing the purchase
agreement offered by the Housing Department.
No negotiations for payment of relocation assistance benefits are necessary
because the property is vacant.
Action Step
The action requested of the City Council is to approve the attached resolution,
authorizing purchase of property located at 514 Lincoln Street in the City of
Dubuque, Iowa.
Service
People
Integrity
Responsibility
Innovation
Teamwork
RESOLUTION NO. 178 -05
A RESOLUTION APPROVING THE ACQUISITION OF REAL ESTATE
LOCATED AT 514 LINCOLN AVENUE, 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 first 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 11 and 11 "A" High Street Subdivision in the City of Dubuque, Iowa
according to the recorded Plat thereof in Dubuque County, Iowa
At the cost of Forty-five thousand dollars ($45 000).
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 2nd day of May, 2005.
Terrance M. Duggan, Mayor
Attest: Jeanne Schneider, CMC, City Clerk