6. HRSR 03-05-2007ITEM. ~ 6.
MEMORANDUM
TO: Housing & Redevelopment Authority
FROM: Catherine Mehelich, Director of Economic Developments/~~
DATE: March 5, 2007
SUBJECT: Discuss Property for Sale at 620 Quinn Avenue
Attachment
* Aerial map of property located at 620 Quinn Avenue
* Zoning map of subject area
Background
At its January 2007 meeting the HRA considered, at the request of the property owner,
acquisition of the property located at 620 Quinn Ave. Attached is an aerial map of the
property.
Information
The HRA directed staff to provide more information about the area (zoning, ownership,
etc.) for further discussion and consideration at a future HRA meeting.
Zoning
Attached is a zoning map of the subject area. The subject parcel is zoned C4-Community
Commercial, as is the property to the south and east. An I2-Medium Industrial zoning
district is located directly north and west of the subject parcel.
Adjacent Proper Ownership
The only consistent area of multiple property ownership is located east and southeast of the
subject property. The 4-parcels are owned by B & W Investments, LLC.
Purchase Price
Staff has discussed the request with property owner, Dennis Moreland. Mr. Moreland has
verbally offered to sell the property to the HRA in the amount of $150,000. The subject
parcel is a double-wide lot that includes a recently remodeled 1932 rambler and a storage
shed.
Discuss Property for Sale at 620 Quinn Ave
March 5, 2007 HRA Meeting
Page 2 of 2
Recommendation
Staff is recommending that the HRA deny the request to purchase the subject property for
the following reasons:
• Minnesota Statutes require the HRA to complete a redevelopment plan prior to
acquiring property. A redevelopment plan has not been completed for this area,
therefore the HRA would likely be in a position of ownership for a long time
before redevelopment occurs.
If the HRA were to acquire the property, a decision would need to be made on
the HRA's intentions for the property until redevelopment occurs (hold in
current state, rehabilitate and rent, or demolish existing structures)
It is more likely that the property can be acquired and held privately, perhaps by
an adjacent landowner/developer, until the area is ready for redevelopment.
The HRA currently has limited resources at this time (financial and staf~ to
commit to acquisition and another significant redevelopment planning area.
S:\EDA\HRA\AGENDA\Year2007\620 quinn.march2007.doc
Page 1 of 1
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