7.0. EDSR 02-09-1998 - Laserfiche WebLink

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FES-03-98 09 :20 AM PELSTRING01 5509221 P. 03 REDEVELOPMENT ANALYSIS The current configuration of the property would not appear to qualify, based upon the way the parcels are laid out. However, our review suggests that the property would qualify if the Hohlen parcels (#'s 1-5) were combined into one larger lot. The current size of the Mobile Home Park and adjacent housing appears to encompass more than 15% of all of this property. The current 12.23 acres of the mobile home park represent approximately 18% of the total of 67.86 acres owned by Mr. Hohlen. As such, we would recommend that these parcels be combined into one larger parcel, as identified in the attachments. On this basis, the TIF district would consist of 6 parcels, representing an estimated 93.5 "occupied" parcels and 40 "unoccupied" parcels. • The redevelopment analysis as to "substandard" buildings appears to strongly meet the state statutory requirements. Based upon our review, there appear to be approximately 23 buildings, and 18-20 of these buildings (including the mobile homes) would appear to qualify. This review, however, should be confirmed by physical inspection by the City's building inspector. SUMMARY Based upon the properties identified, the property would appear to qualify as a redevelopment tax increment district, subject to verification of the following assumptions: 1. The five parcels currently owned by Mr. Hohlen be combined into one large 67.83 parcel and at least 15% of the new parcel is deemed to be "occupied". 2. The right of way for Highway 169 and county Road 12 constitute 19.25 acres or more. • 3. The inspection by the City inspector confirms the condition of at least 50% of the buildings to qualify as "substandard".