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Community Redevelopment Agency March 23, 2017 Page 2 of 2 In response to the Board's question, Mr. Randy Newlon, City Manager, explained that if the CRA approves the purchase of the two parcels, the City would like to engage a property manager to manage the rental of the properties. He said the properties would be income producing for the benefit of the CRA until such time in the future when the City is ready to convert to a different and better -understood use. Mr. Newlon stated that the two-story is renting for just under $2,000 a month and the smaller home is renting for about $1,100 a month. He said that the CRA Board would be in the business of renting properties and there may be other issues from time to time for the Board to consider. In response to the Commission's concern regarding maintenance of the properties, Mr. Newlon said that the City might decide to maintain the properties to ensure a quality appearance for the two (2) properties. Mr. Newlon said that the 2 -story home is vacant at this time. He said the smaller property is occupied and the tenants would like to remain in the property. He said that in the near future discussions would be needed to discuss property owner decisions. Ms. Glancy asked for a motion for the purchase of the two (2) properties. Ms. Solomon made a motion to approve the purchase of 110 and 120 Quail Pond Circle with the provisions given by the City Manager. Mr. Hufford seconded the motion. The motion passed unanimously by voice vote. Fifth Item of Business: Other Business. There was no other business. Sixth Item: Public Comments. There was no public comment. Seventh Item of Business: Adiournment. There being no further business to come before the Board, Ms. Glancy adjourned the meeting at 10:16 a.m. DATE MINUTES APPROVED BY COMMUNITY REDEVELOPMENT AGENCY: / Joni bKon, Secretary