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Subject: Communication from the Mayor requesting to discuss the acceptance of a parcel of land from ARB Enterprises. Parcel addresses include: 1116, 1128, 1130, 1152 Washington Avenue, and 1309 11th Street.
Recommendation of Redevelopment Authority on 11-7-07: That the acquisition be approved. Further that funds be provided in the amount of not less than $50,000.000 for demolition of structures on the property and one-years costs of holding the property. Further that Intergovernmental Revenue Sharing Funds be used for this purpose. To adopt Redevelopment Authority Res. 07-26. Further recommends that the item be referred to the Finance and Personnel Committee.
Recommendation of the Finance & Personnel Committee on 11-26-07: The Redevelopment Chairman and Executive Director be authorized and directed to execute all documents necessary for the acquisition of property at 1116, 1128, 1130, 1152 Washington Ave. and 1309 11th Street. Further recommends that up to $55,000 from the Intergovernmental Revenue Sharing Funds be advanced for the demolition of structures on the property and the one-year's holding cost.
Fiscal Note: The real estate would be donated to the Redevelopment Authority. Funds will be advanced from the accounts identified for the demolition and holding costs. The funds are available in the City’s 2008 Capital Budget for this $55,000 contract.