R2009-56 AUTHORIZING TRANSFER OF REAL ESTATE

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ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM No. 09-28 April 9, 2009 TO: Honorable Mayor Michael T. Carrigan d City Council FROM: Ryan P. McCrady, City Manager � � Greg C. Crowe, Assistant City Manage�— Richelle D. Irons, Assistant Director of EUD/Neighborhood Outreach Manager ��' Vickie Buckingham,Neighborhood Programs Manager �.`��(::.�, SUBJECT: Sale of Property located at 1644 E. Grand Street � �` � ' RECOMMENDATION: Staff recommends approval of the attached resolution regarding the sale of property located at 1644 E. Grand Street. The resolution states the City of Decatur, who is the seller, will sell the property to Bryan Kite in the amount of$4,150.00. BACKGROUND: The City of Decatur provided CDBG rehabilitation funds for the property located at 1644 E. Grand Street. The City regained ownership of the property through foreclosure. The residential unit requires a limited amount of rehabilitation. City staff has a list of required code improvements for the property. The unit will be used as a rental unit for a low income household. The property was advertised in the Decatur Herald and Review. The advertisement on March 25, 2009 identified the property would be required to meet certain restrictions and/or requirements. Proposals were to be provided to the Purchasing Department by noon, Thursday, Apri12009. One response was submitted by Bryan Kite. Mr. Kite, a Decatur resident, submitted his proposal in writing and has provided documentation to demonstrate his ability to improve the property to code. The agreement provides the city ability to take possession of the property if the terms are not satisfied. In 2008, Mr. Kite purchased 2540 E. North Street. Mr. Kite did satisfy the requirements for that property. POTENTIAL OBJECTIONS: None known. INPUT FROM OTHER SOURCES: Neighborhood Redevelopment Staff and 2009 appraisal. STAFF REFERENCE: Should the City Council have any questions, they may contact Richelle Irons, Assistant Director of Economic and Urban Development at 424-2864 or e-mail rirons("��decaturil.�. BUDGET/TIME IMPLICATIONS: Settlement shall occur within 30 days from the date of the agreement. The owner shall provide monthly updates to the Neighborhood Redevelopment Division. The buyer shall allow inspections of the property until the property has been rehabilitated to the reasonable satisfaction of the City on or before July 1, 2009.