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EOty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authority 3.0 <br /> Agenda Section Meeting Date Prepared by <br /> Work SessionJune 6, 2016 Amanda Othoudt,EDD <br /> Item Description Reviewed by <br /> 18584 Troy Street Update Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Receive an update on the Tax Forfeited property located at 18584 Troy Street. <br /> Background/Discussion <br /> During the May 2nd HRA meeting, the HRA directed staff to contact the Sherburne County Auditor- <br /> Treasurer's office to discuss the potential purchase of the property located at 18584 Troy Street. The <br /> county will agree to sell the property to the HRA for a discounted purchase price provided the Fire <br /> Department and Police Department would utilize it for training purposes. The purchase price and county <br /> fees are outlined below. <br /> Purchase price $15,000.00 <br /> 3% RE Assurance $450.00 <br /> State Deed Tax $49.50 <br /> State Deed Fee $25.00 <br /> Record Deed $46.00 <br /> Well Certification $50.00 <br /> Total Acquisition Costs $15,620.50 <br /> Staff has received a preliminary estimate from Veit,Inc. for debris removal for upwards of$11,000 <br /> assuming that the Elk River Fire Department will partner with the HRA to conduct live training burns of <br /> the residential structure awaiting demolition. Backfilling the excavation area is extra, and is estimated to <br /> cost$17 per yard. The total amount of backfill needed is unknown at this time. <br /> The property is not connected to city services, and the city engineer indicated a connection is not planned <br /> for the near future. Stembrecher, Companies,Inc. estimated the cost to abandon the non-compliant <br /> septic system at$1,900 which is required prior to conveying the property to a new owner. <br /> The total costs of the HRA to purchase, demo and abate the property, could total an upwards of$30,000- <br /> $40,000. The property could be then donated to Habitat for Humanity to build a single family home, or <br /> could be listed for sale as a HRA property and sold outright. However,if these options are sought,it is <br /> possible that the HRA would not recoup the costs associated with the purchase, demolition and <br /> abatement associated with the property. <br /> POWERED 6T <br /> A IR <br />