SALE OF CITY OWNED PROPERTY

Item 11: Consideration of Sale of City Owned Property at 659 West Raleigh Boulevard and Approval of Home Purchase Agreement with Michael Lewis (high bid = $3,410; no upset bids received; requires existing dilapidated structure be demolished within six (6) months and Certificate of Occupancy must be received for a newly constructed residential structure within twelve (12) months of the end of the six (6) month demolition period; 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 at least annual monitoring)

Recommended Action: Adopt Resolution Accepting Offer to Purchase Surplus Property (pursuant to Home Purchase Agreement previously approved) and authorize Mayor and City Clerk to Execute Deeds and Such Other Documentation to Convey Property

Votes:

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