HomeMy WebLinkAbout~Master - Revised criteria for disposition of 623 Ninth Street RESOLUTION NO. 03-058
RESOLUTION APPROVING REVISED CRITERIA FOR
DISPOSITION OF PROPERTY AT 623 NINTH STREET
IN CONNECTION WITH THE CITY'S AFFORDABLE HOUSING PROGRAM
FOR THE CITY OF AMES
WHEREAS, at the January 28, 2003, City Council meeting, it approved criteria for the
disposition of the City-owned property located at 623 Ninth Street in connection with the City's
Affordable Housing Program initiatives; and,
WHEREAS, after reviewing the criteria and entertaining questions from interested
developers, staff would like to revise some of the criteria to make it more attractive for a developer
to pursue submittal of a Request for Proposal (RFP); and,
WHEREAS, staff is recommending that the following revisions be made: 1)the minimum
requirements are expanded to include a two-familyunit that is in a condominium-form of ownership;
2)the existing structure can be demolished or renovated at the developer's expense;3)two single-car
garages will be added to the competitive requirement under two-family unit; 4) the financial
incentives will be expanded to include a track that the City will provide the property at no cost to the
developer if a two-family unit, as a condominium, is made available to home buyers with incomes
that do not exceed 100% or less of the Story County median income limits and the purchase price
does not exceed$100,000(including the cost of the land)per unit; and, 5)the definition of low-and
moderate-income is clarified to read...."does not exceed 100%of the Story County median income
limits."
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the aforementioned revised criteria for the disposition of the City-owned property at 623 Ninth
Street are hereby approved.
ADOPTED THIS 1 lth day of February, 2003.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Wirth
Seconded by: Vegge
Voting aye: Cross, Goodhue, Hoffinan, Mahayni, Vegge, Wirth
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this I I'of February, 2003.