HomeMy WebLinkAbout20071119 - VI-11VI-11
November 15, 2007
TO: The Honorable Mayor and Council
FROM: John Grossman, HRA Dir.
RE: Order Public Hearing on Acquisition, 1501 Vermillion
Summary: Council approval, after a public hearing, is required prior to HRA
acquisition of a parcel, if it is to be acquired before a redevelopment project area is
authorized.
The property at 1501 Vermillion, the former Clark Station, is now listed for sale. The
property has been vacant, unused and poorly maintained for at least seven years. These
conditions meet the criteria of blight required for acquisition by the I-IRA. The HRA has
made an offer on the property. The HRA requests City Council approval before they
execute the Purchase Agreement. Time is important.
The I3RA will, at a later date, recommend to Council the establishment of a new
redevelopment project area on Vermillion Street which will include this property. It will
take some time to develop this recommendation. Also, the Council will be considering
approval of the Vermillion Street Plan prepared by the EDC.
Action: Order a public hearing on HRA acquisition of the property at 150 i Vermillion
for the Council meeting of December 3, 2007.