Sale of Property_2268 Washington StreetTHE CITY OF
Dui
Masterpiece on the Mississippi
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Sale of Property at 2268 Washington Street
DATE: April 29, 2013
Dubuque
kital
All- America City
II 111!
2012
The City purchased eight properties for the Bee Branch project in the 2200 -2300 blocks
of Washington Street, due to the need to take a portion of the rear yards for the
realigned right -of -way. The houses are each being fully renovated, in preparation for
their re -sale to income - qualifying homebuyer families. Development of this property
was funded as part of the Bee Branch Creek Restoration Program and the Lead Paint
Hazard Reduction Program. No Neighborhood Stabilization Program (NSP) funds were
used on this property. The fourth of these, located at 2268 Washington, has been
completed and an offer to purchase has been received.
Housing & Community Development Department Director Alvin Nash recommends the
City Council approve the sale of City -owned real estate at 2268 Washington Street to
Kaylyn A. Mullady for the appraised value of $119,000.
Kaylyn Mullddy will receive the "Washington Neighborhood" financing package,
including a $15,000 combination forgivable and deferred - payment loan to assist with the
downpayment; and a $25,000 City second mortgage. This property must be sold to an
income - qualifying buyer (earning less than 80% area median income) according to the
terms of the Iowa Finance Authority and the Lead Program funding.
Financing will be provided through a first mortgage from Dubuque Bank and Trust and
the Washington Neighborhood Incentives Program.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
kr,„709,,,
Michael C. Van Milligen
MCVM:sv
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Teri Goodmann, Assistant City Manager
Alvin Nash, Housing & Community Development Department Director
Masterpiece on the Mississippi
Dubuque
ktratd
All - America City
'1 111!
2012
TO: Michael Van Milligen, City Manager
FROM: Alvin Nash, Housing & Community Development Department Director
SUBJECT: Sale of Property at 2268 Washington Street
DATE: April 16, 2013
Introduction
The purpose of this memorandum is to request City Council approval of the attached
resolution authorizing sale of City -owned real property located at 2268 Washington
Street, to Kaylyn A. Mullady.
Background
The City purchased eight properties for the Bee Branch project in the 2200 -2300 blocks
of Washington Street, due to the need to take a portion of the rear yards for the
realigned right -of -way. The houses are each being fully renovated, in preparation for
their re -sale to income - qualifying homebuyer families. Development of this property
was funded as part of the Bee Branch Creek Restoration Program and the Lead Paint
Hazard Reduction Program. No Neighborhood Stabilization Program (NSP) funds were
used on this property. The fourth of these, located at 2268 Washington Street, has
been completed and an offer to purchase has been received.
Discussion
An offer has been made by Kaylyn A. Mullady to purchase the property at 2268
Washington Street for $119,000, in accordance with the value established by an
independent appraisal. The buyer will receive the "Washington Neighborhood"
Incentives package, including a $15,000 combination forgivable and deferred - payment
loan to assist with the downpayment; and a $25,000 City second mortgage. All
properties must be sold to income - qualifying buyers (earning less than 80% area
median income) according to the terms of the Iowa Finance Authority and the Lead
Program funding.
Financing to Kaylyn A. Mullady will be provided through a first mortgage from Dubuque
Bank & Trust and the Washington Neighborhood Incentives Program.
By action of the City Council at its meeting held on April 15, 2013, Resolution No. 120-
13 approved the setting of a public hearing to be held for the disposal of property at
2268 Washington Street.
Action Step
The action requested of the City Council is to approve the attached resolution
authorizing the sale of property located at 2268 Washington Street to Kaylyn A. Mullady.
KLN
Attach
RESOLUTION NO. 143 -13
A RESOLUTION APPROVING THE SALE OF REAL ESTATE LOCATED AT 2268
WASHINGTON STREET, IN THE CITY OF DUBUQUE, IOWA
WHEREAS, the City acquired the property at 2268 Washington Street for the
purpose of its restoration and re -sale for owner - occupied housing as part of the Bee
Branch re- alignment project; and
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:
Lot 1 Bee Branch Sub. No. 7 in the City Of Dubuque, Iowa, according to the
recorded plat thereof — 2268 Washington Street at the cost of $119,000.
Section 2. That the City of Dubuque be and is hereby authorized to provide a
Special Warranty Deed to the buyer, conveying the City's interest to Kaylyn A. Mullady
for the herein - described real estate.
Section 3. That the City Clerk be and he is hereby authorized and directed to
cause said Special 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 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 May, 2013.
Roy uol, Mayor
Attest:
Page 1 of 1
1111111111111111111111111111111
Doc ID: 007729530004 Type.
N
Kind: DEED WITH RESOLUTION
Recorded: 06/28/2013 at 10:32:54 AM
Fee Amt: $27.00 Revenue Tax:Page 1 of 4
$0.00
Dubuque County Iowa
Kathy Flynn Thurlow Recorder Q /� Q
F11e2013-000108`1'8
Prepared by: Maureen A. Quann 300 Main Street, Suite 330, Dubuque IA 52001 563 589-4381
Return to: Maureen A. Quann 300 Main Street, Suite 330, Dubuque IA 52001 563 589-4381
Tax Statement to:
Kaylyn A. Mullady
2268 Washington Street
Dubuque, Iowa 52001
SPECIAL WARRANTY DEED
KNOW ALL MEN BY THESE PRESENTS: that the City of Dubuque, Iowa,
a municipal corporation of the State of Iowa (Grantor), in consideration of the
Grantee named below, and other good and valuable consideration, and pursuant
to the authority of Chapter 403, Code of Iowa, does hereby GRANT, SELL AND
CONVEY unto Kaylyn A. Mullady, a single person, the following legally described
real estate situated in the County of Dubuque, State of Iowa, to wit (the
Property):
Lot 1 of BEE BRANCH SUBDIVISION NO. 7 in the City of
Dubuque, Iowa, according to the recorded plats thereof
This Deed is exempt from transfer tax pursuant to Iowa Code
section 428A.2(6).
This Deed is given pursuant to the authority of Resolution No. 143-13
of the City Council of the City of Dubuque adopted the 6th day of May, 2013, the
terms and conditions thereof, if any, having been fulfilled.
Grantor hereby covenants to warrant and defend the said premises
against the lawful claims of all persons whomsoever claiming by, through and
under it.
Dated this 5 of , 2013 at Dubuque, Iowa.
5cO
File Number: 2013-00010eq:H7
Page 1 of 1
CITY OF DUBUQUE IOWA
By:
Attest:
By:
Key, S. Firnstahl, City Clerk
STATE OF IOWA
SS
COUNTY OF DUBUQUE
Roy D(1Ruol, Mayor
On this JU day of , 2013, before me a Notary Public
in and for said County, personally ap ared Roy D. Buol and Kevin S. Firnstahl
to me personally known, who being duly sworn, did say that they are the Mayor
and City Clerk, respectively of the City of Dubuque, Iowa, a Municipal
Corporation, created and existing under the laws of the State of Iowa, and that
the seal affixed to the foregoing instrument is the seal of said Municipal
Corporation, and that said instrument was signed and sealed on behalf of said
Municipal Corporation by authority and resolution of its City Council and said
Mayor and City Clerk acknowledged said instrument to be the free act and deed
of said Municipal Corporation by it voluntarily executed.
arffif
Notary Public in and f
06A/4,0
ubuque County, Iowa
J,jtL
+, PAMELA J. McCARRON
Commission Num or 772419
,o,,.' My Comm. Exp. -20/
File Number: 2013-00010848 Seq: 2