Approve the offer to purchase 414 Avenue D in the amount of $46,000 from M.K.C. Investment Group Corp. 

Staff seeks approval for the Chair of the FPRA Board to execute the purchase agreement for real property located at 414 Avenue D.  The purchaser proposed to buy the property and offer either affordable housing or a commercial development.  As that property is non conforming and the structure is seriously deteriorated.  The FPRA has held off demolition of that structure since they did not want to add the costs of the demolition to the sale price, rather leaving it for the purchaser.  

The CRA Advisory Committee reviewed this offer and scored it based upon the following criteria:  Purchase Price, Scope of Work for Improvements to be made and timeframe, Uses proposed for facility, Job Creation/Economic Impact and Conformance with CRA Plan.  The CRA Advisory Committee discussed also recommending that the closing on the property be tied to a simultaneous closing on the adjacent parcels but did not make that a part of their recommendation.  The CRA Advisory Committee also indicated that they support commercial development on that parcel rather than housing.

The CRA Advisory Committee  included in their recommendation that the purchaser have the structure removed within 60 days of closing.
 

Approval with recommendation that the structure is removed within 60 days of closing date. 

Approval of a counter offer for purchase price or other terms of the sale. 

Rebecca Grohall, AICP 

Nicholas Mimms, City Manager
Tony Barnes, Purchasing Director
Jim Messer, City Attorney