HomeMy WebLinkAbout~Master - Offer to Purchase 3229 Garner Ave., Phase IV Lease Purchase Affordable Housing RESOLUTION NO. 00-194
RESOLUTION APPROVING OFFER TO PURCHASE PROPERTY
AT 3229 GARNER AVENUE IN CONNECTION WITH THE
CITY OF AMES' PHASE IV LEASE-PURCHASE
AFFORDABLE HOUSING PROGRAM
FOR THE CITY OF AMES,IOWA
WHEREAS, in December 1999, the City received approval from the Iowa Department of
Economic Development and the Iowa Finance Authority to redesign the Phase IV Mortgage Buy-
Down Affordable Housing Program into a Lease-Purchase Affordable Housing Program and utilize
the remaining grant funds to implement the new Program; and,
WHEREAS, approximately$92,000 remains in this Program from the budget contribution
from IDED, IFA, and the City; and,
WHEREAS, the grant funds would be used to first purchase a single-family or townhouse
unit that would accommodate a family whose income falls at or below 70% of the Story County
median income limits; and,
WHEREAS, staff has been searching and has found an available property that would meet
the Program goal; and,
WHEREAS, staff is requesting approval of the Offer to Purchase the single-family property
at 3229 Garner Circle for$71,000 and payment of a reduced realtor's commission of 3.5%($2,485)
to Hunziker and Associates.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the Offer to Purchase the property at 3229 Garner Circle for$71,000 and payment of a realtor's
commission in the amount of$2,485 to Hunziker and Associates are hereby approved.
ADOPTED THIS 9th day of May, 2000.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Cross
Seconded by: Quirmbach
Voting aye: Campbell, Cross, Goodhue, Hoffman, Quirmbach, Wirth
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 9th day of May, 2000.