Subject:
Title
Consider approval of the disposition of real estate owned by the City of Harrisonburg at 2421 and 2425 Reservoir Street to Central Valley Habitat for Humanity and adopt a resolution authorizing the sale of publicly owned real estate.
Body
Presented By: Liz Webb, Housing Coordinator
Recommendation and Review
As directed by City Council, staff established a process to sell surplus City-owned property considered potentially suitable for housing. Following an open application process for listed parcels, staff selected a proposal from Central Valley Habitat for Humanity to purchase 2421 and 2425 Reservoir Street at the below-market price of $10,000. The significant discount from the $308,000 assessed value will support the creation of a minimum of ten for-sale townhome units on the roughly 1.15-acre site. At least 80 percent of units will be restricted to and affordable for qualified low-to-moderate income homebuyers. Facilitating the development of affordable housing serves an important public purpose in the interests of the City and its residents. Disposition requires a public hearing and City Council approval, the agreement for which Council consideration is requested. This sale is also conditioned upon successful applications for land use approvals.