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HomeMy WebLinkAbout~Master - Purchase Agreement for property at 1109 Roosevelt Avenue DO NOT WRITE IN THE SPACE ABOVE THIS LINE,RESERVED FOR RECORDER Prepared by:Ames Legal Department,515 Clark Avenue,Ames,IA 50010 Phone:515-239-5146 Return to:Ames City Clerk,P.O.Box 811,Ames,IA 50010 Phone:515-239-5105 RESOLUTION NO. 15-092 RESOLUTION APPROVING PURCHASE AGREEMENT WITH STORY COUNTY HABITAT FOR HUMANITY FOR PROPERTY AT 1109 ROOSEVELT AVENUE FOR THE CITY OF AMES,IOWA WHEREAS,under the City's previous Community Development Block Grant(CDBG)Action Plans, funds were set aside for the Acquisition/Reuse Program, and under this program, the City acquires and demolishes/removes single-family properties and/or lots for reuse as affordable housing; and, WHEREAS, the target group to benefit consists of low- and moderate-income households at 80% or less of the Department of Housing and Urban Development's (HUD's) designated median income limits; and, WHEREAS, under this prior program, the City purchased 15 single-family properties, and the properties were either rehabilitated and sold to first time homebuyers, or were sold at a reduced cost to non-profit organizations; and, WHEREAS, such price reductions were based on the fact that the non-profit would be responsible for rehabilitating the properties before they could be re-sold to low-income home buyers; and, WHEREAS,of the 15 properties,7 have previously been sold to Habitat for Humanity of Central Iowa, and two remain to be rehabilitated and sold; and, WHEREAS, Habitat representatives approached City staff to inquire about continuing this partnership and expressed interest in purchasing one of the remaining two properties at 1109 Roosevelt Avenue; and, WHEREAS, this property was initially purchased by the City in 2009 for $115,000, and a number of repairs were made;this property was slated to be sold to an applicant household participating in the City's Homebuyer Assistance Program; and, WHEREAS, unfortunately, that applicant had to withdraw from the program, and without an identified buyer, staff began working with the Habitat Executive Board to negotiate an agreement for the sale of the property at a reduced price, which was ultimately determined to be $25,000; and, WHEREAS,this sale will allow the City to continue to address one of the priority goals outlined in the both the 2014-15 Annual Action Plan and in the 2014-2019 CDBG Five-Year Consolidated Plan, which is to create and expand the availability and affordability of rental and/or owner-occupied housing options for low- and moderate-income households. ADOPTED THIS 24th day of February, 2015. :_O�& At-w al 16Pa4'q' Diane R. Voss, City Clerk Ann H. Campbell, Mayor Introduced by: Goodman Seconded by: Corrieri Voting aye: Betcher, Corrieri, Gartin, Goodman,Nelson, Orazem Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 241h day of February, 2015.