REAL ESTATE SUBCOMMITTEE OF
THE
REDEVELOPMENT AUTHORITY OF
THE CITY OF GREEN BAY
City Hall, Room 604
MEMBERS PRESENT: Matt Schueller, Tom Weber
MEMBERS EXCUSED: Dan Dallich
OTHERS PRESENT: Cheryl Renier-Wigg, Andy Rosendahl
ORDER OF BUSINESS:
1. Review and action on purchase of 1138 S. Broadway and 1163 Doty Street.
The Authority
may convene in closed session pursuant to Section 19.85(1)(e), Wis. Stats., for
purposes of deliberating or negotiating the sale of public properties,
investing of public funds as necessary for competitive or bargaining
reasons. The Authority may thereafter
reconvene in open session pursuant to Section 19.85(2), Wis. Stats., to report
the results of the closed session and consider the balance of the agenda.
The meeting was called to order by M. Schueller.
C. Renier-Wigg reviewed the request to purchase the two properties using Neighborhood Enhancement Funds. The property at 1138 S. Broadway was discussed first. Photos and the criteria were reviewed, with the property meeting 95 of 100 points for criteria. The owner previously wanted $47,900 and was firm with that. He has now come down $2,900. The resident adjacent to this parcel would like to purchase the land and the garage from the RDA if we purchase this parcel and raze the house. The land value was reviewed at $6,600 assessed and approximately $7,000 equalized. The adjacent resident is willing to work with us to purchase the land and garage for $10,000. It was stated that it makes sense to sell to the adjacent resident. As part of the deal, he would need to combine this parcel with his parcel. He would not be able to build anything on the land.
C. Renier-Wigg reviewed the property at 1163 Doty Street. Photos and the criteria were reviewed, with the property meeting 90 out of 100 points for criteria. There was fire damage in the upstairs and the property is located very close to the sidewalk. She recommends tearing the house down and listing the lot under the New Homes in Your Neighborhood Program. The assessed value is $71,500. The owner wanted $55,000 and we countered with $30,000. The owner is willing to accept $35,000. The land value is around $15,000.
C. Renier-Wigg stated her recommendation is to purchase both of these properties with Neighborhood Enhancement Funds. The Neighborhood Enhancement Fund balance is currently $135,000. After these purchases the balance would be $37,000, and the money from the sale of the lots would be put back into the account.
A motion was made by M. Schueller and seconded by T. Weber to purchase 1138 S. Broadway for $45,000 using Neighborhood Enhancement Funds and dispose of the property after razing for $10,000 to the adjacent property owner at 1136 S. Broadway, and purchase the property at 1163 Doty Street using Neighborhood Enhancement Funds for $35,000 and dispose of the property under the New Homes in Your Neighborhood Program after razing. Motion carried.
Meeting adjourned at 3:50 p.m.