ACTION REQUESTED:
Title
Communication from the City Manager and Community Development Director with a Request to APPROVE the Sale of 1611 N. WISCONSIN AVENUE to STEVEN SANCHEZ and to Authorize the City Manager to Draft and Execute the Purchase CONTRACT (Council District 3).
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BACKGROUND: In January 2016, City Council approved the process of issuing a Request for Proposals for City owned properties that had the potential to be rehabilitated by private individuals or organizations.
Peoria Opportunities Foundation agreed to transfer the property to the City of Peoria for a Request for Proposals to be issued. The agreement with Peoria Opportunities Foundation stated that the City of Peoria would split the proceeds of the sale with Peoria Opportunities Foundation.
One response to the Request for Proposals was received. The proposal was submitted by Steven Sanchez. The proposal includes a rehabilitation of the house with a purchase price of $3,000. Terms of the proposal require that a Certificate of Occupancy must be obtained within six months of the sale date or the deed will revert back to the City of Peoria.
FINANCIAL IMPACT: The City will receive $3,000 for the sale of the property. Per the agreement, Peoria Opportunities Foundation will receive half of the proceeds. If a Request for Proposals was not issued, the City would have incurred a demolition cost of approximately $12,000-$15,000.
NEIGHBORHOOD CONCERNS: The neighborhood will see a blighted property be rehabilitated and occupied.
IMPACT IF APPROVED: City staff will draft the purchase contract and execute the contract. The sale will close as soon as possible and rehab work will begin.
IMPACT IF DENIED: Mr. Sanchez’s proposal would be rejected.
ALTERNATIVES: None recommended.
EEO CERTIFICATION NUMBER: Not Applicable
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Attractive Neighborhoods with Character: Safe and Livable
2. Financially Sound City Government, Effective City Organization
3. Grow Peoria: Businesses, Jobs, and Population
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Reinvest in neighborhoods.
2. Have an efficient government.
DEPARTMENT: Community Development