HomeMy WebLinkAboutA011 - Email to Kenneth Platt dated June 15, 2018 (3620 Woodland) Re: OPTION 3 Question
David Martin to: Platt, Kenneth B [V MPM] 06/15/2018 12:39 PM
Cc: "AmesCityCouncil@city.ames.ia.us", "Steve Schainker", "Sara Van
Meeteren", "Kelly Diekmann"
Hi Ken,
In my understanding of the current state of the option 3 proposal, the answer is "yes." Once
passing all of the requirements and obtaining an option 3 LOC, the homeowner would generally
be able to sell to an investor who would be able to rent the property using that LOC indefinitely,
with one catch: the LOC obtained using option 3 requires ongoing use for bonafide rentals; if
rental activity ceases for long enough(one year in the current proposal), then the LOC would no
longer be renewable. This different from the other LOCs that exist in Ames, which have no
ongoing "use it or lose it" provision.
Council is still in the design phase of options 1 and 3 and we haven't yet begun voting on either
in ordinance form.
Sincerely,
David
On Fri, Jun 15, 2018 at 12:08 PM, Platt, Kenneth B [V MPM] <kbplatt(&iastate.edu> wrote:
15 June 2018
Under the "proposed hardship ordinance - Option 3" ; can homeowners who apply for and
receive an LOC sell their property to a rental property investor within the proposed 12
month window for rental to occur, so that the rental property investor would be able to
rent the property thus locking- in the LOC for the property indefinitely for years to come?
This is a question that is being frequently discussed among neighbors. I would appreciate a
response at your earliest convenience.
Respectfully submitted
Ken Platt
3620 Woodland Street
David Martin
Ames City Council, Ward 3
david@MartinForAmes.org
515 450 1130