2311 Prince St. purchase prop - Bee Creek Proj
Th:;B~E
~YN--~
MEMORANDUM
August 27, 2005
TO:
The Honorable Mayor and City Council Members
FROM:
Michael C. Van Milligen, City Manager
SUBJECT: Purchase of Property at 2311 Prince Street
Housing and Community Development Department Director David Harris recommends
City Council approval to purchase a residential dwelling for $34,000 located at 2311
Prince Street owned by Household Mortgage Services assignee of Finance Network
Alliance, L.L.P. This purchase is part of the acquisition program associated with
expansion of the Bee Branch Creek Restoration Project.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
/Ylj (;1,(J1J/~
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
David Harris, Housing and Community Development Department Director
""-",
,-j
)
~._I
D~~~E
~YN--~
MEMORANDUM
17 August 2005
To: Mik~\\ Milligen, City Manager
From: David\4arris, Housing and Community Development Department
Re: Purchase of Property at 2311 Prince Street
Introduction
The purpose of this memorandum is to request the City Council's approval to purchase
a residential dwelling located at 2311 Prince Street, as part of the acquisition program
associated with the Bee Branch Creek Restoration Project.
Background
The 2001 HDR "Drainage Basin Master Plan" identified approximately 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 2006 CIP budget has allocated $1,114,983 for acquisitions.
Discussion
The third home located in the Bee Branch Realignment and scheduled for purchase is
owned by HMS (Household Mortgage Services assignee of Finance Network Alliance,
L.L.P.) They received ownership due to a foreclosure. An independent appraisal has
established market value at $34 000. HMS 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 2311 Prince Street in the City of Dubuque,
Iowa.
1
/
RESOLUTION NO. 403 -05
A RESOLUTION APPROVING THE ACQUISITION OF REAL ESTATE
LOCATED AT 2311 PRINCE STREET, 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 third 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 58 Sanford's Subdivision in the City of Dubuque, Dubuque County,
Iowa according to the recorded Plat thereof.
At the cost of Thirty-four thousand dollars ($34 000).
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 6th day of September, 2005.
Terrance M. Duggan, Mayor
Attest:
Jeanne Schneider, CMC, City Clerk