Agenda - Council - 02/13/2007 - Laserfiche WebLink

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Option -2 Buy Property $ 283,000 Raze house & Foundation_ $ 10,000 Construct Roadway $ - 26,000 Total Cost $ 319,000 'Option 3 Buy Property $ 283,000 Purchase new lot $ 75,000 Relocate.House $ 20,000 - Remove Foundation - $ 5,000 New Foundation & Utilities $ 20,000 Sell Relocated House $ (250,000) Construct Roadway . $ 26,000 .Total Cost $ 179,000 • Additional Costs — In addition to the costs associated with the purchase of this property it would be necessary to fund the construction of the connecting roadway and the - underlying utilities. Currently the abandonment of the River Pines lift station is scheduled for 2007 at a cost of $75,000. In addition the should be looped through this roadway at a cost of $7,500. • Financing Options- Possible funding sources to - facilitate this proposal could be as follows: Source Amount Comments Sewer The CIP has:anticipated $75,000 however the reduced cost of Trunk Fund $ 49,000 the sewer installation would be $26,000 Water This represents a contribution from the water trunk. fund toward Trunk Fund $ 5,000 the cost of the property to make this looping feasible The Public Improvement Revolving Fund would be the PIR Fund $ 125,000 remaining source available for this project. to $265,000 • Neighborhood Considerations- Although the City has taken action to direct the - acquisition for a right of first refusal on this parcel, there has been. no discussion regarding this acquisition with the property owner or the River Pines neighborhood. It is foreseeable that there could be neighborhood concerns regarding traffic caused by this connection. Recommendations:. Based upon the previous'direction provided by Council it would be consistent for staff to recommend.that an offer on this property be made. Staff therefore recommends the following in preparation for -such an offer: 1. Solicit house moving costs and /or purchase from house moving contractors 2. Locate a suitable lot for house relocation . -258-