ix a) f
nae
MEMORANDUM + 9 NF

JAN 10 1977

Mayor and Council January 7th, 1977

L.D. Pollock
City Administrator

Rental of City-owned House - Praire and Chester Street

Council will recall that we purchased the property at 2190 Prairie Avenue
for the purposes of road widening. The City has taken possession and our
next move will be to carry out the necessary legal surveys to locate the
new road boundary and move the existing fence back to conform with this new
line.

When this property was purchased, I believe it was our intention to take the
necessary property for the road widening and then resell the property. I
believe that the property changes can be completed in fairly short order,
however, there are two problems present. 1. I do not like to leave the house
vacant for any length of time and 2. the market for the sale of homes is at

a low point at the present time and it might not be advantageous to try and
sell the house at this time.

I have consulted with one of the local real estate firms and I am able to
obtain tenants for the house without any trouble. If we do offer it for rent,
I feel that the tenants should be given a reasonable length of occupancy, that
‘is, up to a year, otherwise it is not worthwhile moving in. Also, after
consulting with the real estate company it would appear that $270.00 per month
‘is a fair economic rént for the Property. It has two bedrooms, no basement,
and is about 750 square feet.

I would recommend that we offer the house for rent at a rental of $270.00 per
month on a month to month basis until we complete the road widening and have
a chance to assess the market for the sale of the property.

ene

L.D. Pollock