RESOLUTION AUTHORIZING EXECUTION OF A RIGHT TO PURCHASE AND AFFORDABLE HOUSING AGREEMENT

Item 11: Consideration of Resolution Authorizing Execution of a Right to Purchase and Affordable Housing Agreement for the Sale of City-Owned Property at 811 and 815-821 Hammond Street to Sebastian Hyman [d/b/a SBC Contracting, Inc.] (Offer = $33,001; Right to Purchase and Affordable Housing Agreement requires receipt of certificate of occupancy within 18 months; deed to contain restrictive covenants requiring houses to be occupied by individual(s) whose income is not more than 80% of the area median income for at least ten (10) years; requires note/deed of trust and progress reports)

Recommended Action: Adopt Resolution Authorizing Execution of Right to Purchase and Affordable Housing Agreement with SBC Development, LLC and Authorize Mayor and City Clerk to execute Deeds and Such Other Documentation to Effect Sale

Votes:

Knight - Y
Blackwell - Y
Joyner - Y
Walker - Y
Daughtridge - Y
Bullock - Y
Miller - Y