Laserfiche WebLink
I <br /> <br />Second, in addition to purchasing the property, the City is responsible for locating comparable <br />properties for these residents. This means that the City must present the residents with a <br />comparable property that is actually on the real estate market. The City is responsible for <br />reimbursing the resident for the difference in the cost between what they have been paid for their <br />property and the cost of the comparable property, if it is more expensive. The City must approve <br />the amount of the comparable property. Staff is requesting that a committee be appointed to <br />approve the comparable property values. Because properties tend to remain on the market for a <br />relatively short period of time, the Committee should be comprised of individuals who can meet <br />on relatively short notice. The committee does not need to consist of elected officials. <br /> <br />Action.: <br /> <br />Motion to authorize the offer of relocation assistance to residents of the T.H. #47 STP project, <br />the benefit of remaining in the residence 90 days, rent free, beyond the date of closing. <br /> <br />-and- <br /> <br />I <br />! <br />I <br />I <br /> <br />I <br /> <br />Motion to appoint a Committee consisting of to review and <br />approve comparable properties to those properties being obtained for the T.H. #47 STP project. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />City Attorney <br />Director of Public Works <br /> <br />CC: 3/9/99 <br />/kas I <br /> I <br /> <br /> <br />