Title
Acquisition and Stabilization of Two Houses Owned by Santa Fe Community College (B)
Explanation
For the past several months CRA staff has been working with Santa Fe Community College to bring some resolution to the difficult issue of the two houses owned by the College in the Pleasant Street area. The CRA authorized staff to explore a plan that would allow the CRA to acquire the two houses from SFCC for a cost of $10 each; acquire parcel 14479 from the City; move the houses to parcel 14479 and rehab those houses for homeownership. Any funding gap would have been split between the CRA and SFCC with a cap of $10,000 each for a total of $20,000 per house. SFCC has agreed to provide $10,000 for each house.
Staff has obtained estimates to move the houses and has been working on estimates for the rehab of the properties. At this point it appears that the gap will likely exceed the $20,000 originally discussed. Staff is recommending that the CRA acquire the houses from SFCC and stabilize them; that the CRA ask the City to transfer parcel 14479 so that work can begin on the lot split. These actions will keep the project moving forward, stop the deteiation of the properties and will give staff time to develop a plan for the sale of the properties in a way that minimizes the potential gap.
While the proposal is a compromise in order to address a difficult situation given the condition of these houses along with their historic value to the community, it is proposed with the ultimate goal in mind of continued revitalization of the neighborhood and its historic housing stock.
Fiscal Note
The CRA would agree to buy the two houses from SFCC for $10 each and SFCC would provide the CRA with $10,000 for each house to cover the costs associated with the move of the houses. The CRA would accept parcel 14439 from the City and prepare for a lot split.
Recommendation
CRA to the City Commission: Request the City authorize the City M...
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