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CASSELBERRY CITY COMMISSION Minutes of November 9, 2015 — Regular Meeting Page 13 of 19 purchase and placed with a broker. He explained that there was a period of time when bids were limited to owner occupants who committed to reside in the house for a certain period of time, and that period had closed on November 8, 2015. He further explained that an owner occupant had won the bid, but as of today the property was available for bid from investors and others, including the City. He added that there was always a possibility that the winner of the bid would not close, and if the City desired it could position itself to bid on the property in that event. Mr. Newton advised that Resolution 15 -2801 had been prepared to authorize a bid on the property if it should become available, set a maximum amount for the bid, and authorize the Mayor to sign a contract should the City be the successful bidder. He explained that HUD had listed the property at $158,200.00. He added that staff had looked at the property and there were certain deficiencies; however, it could possibly sustain that value or even more. He also felt there was a possibility that the City could obtain the property for less than the list price. He suggested that if it was the will of the Commission to pursue the property, a maximum bid amount of $160,000.00 would be reasonable. Discussion: A brief discussion ensued about proposed uses for the property, with each Commissioner indicating support for pursuing purchase of the property. Mr. Newton advised that funding for the purchase was available in the current budget through the contingency reserve account. Budget Impact: The budget impact would be the amount of the successful bid plus closing costs and demolition estimated at $20,000. Funds are available in the General Fund Contingency Reserve account. If the City's bid is successful and a contract executed this will be reported back to the City Commission at the next scheduled meeting along with a budget amendment. Recommendation: The City Manager recommended approval of Resolution 15 -2801. Audience Participation: The following individual came forward to address Resolution 15 -2801: Mr. John Casselberly, 700 South Lost Lake Lane, expressed some concerns about whether the property in question connected to land already owned by the City, and suggested the City may want to consider a larger offer to include the lot behind it if both had the same owner. No one else came forward. MOTION: Commissioner Meadows moved to approve Resolution 15 -2801, as presented, authorizing the City Manager to submit a bid for purchase of the property located at 161 Quail Pond Circle in an amount not to exceed $160,000.00 plus closing costs, and to authorize the Mayor to execute a contract for purchase of the property in the event of a successful bid. Motion was seconded by Vice Mayor Solomon. Motion carried unanimously by voice vote 5 -0.