HomeMy Public PortalAboutAB 11-099 Lease transfer waiver requestMcCALL CITY COUNCIL
AGENDA BILL
Number
Meeting Date
AB 11-99
May 27, 2011
216 East Park Street
McCall, Idaho 83638
AGENDA ITEM INFORMATION
SUBJECT:
McCall Avenue Land Lease Transfer Waiver
Request
Department Approvals
Initials
Originator
Or
Supporter
Mayor / Council
City Manager
Clerk
Lei
Originator
Treasurer
Community Development
Police department
Public Works
Golf Course
COST IMPACT:
$2500
Parks and Recreation
FUNDING
SOURCE:
Lessee
Airport
Library
TIMELINE:
Sale closing June 15, 2011
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
The City of McCall owns land on McCall Avenue which was
is governed by the Amended Restated Ground Lease V2. The
the credit/subsidy as defined in Section Three of the land lease
buyer is required to pay rent equal to 5% of the fair market value
of the land lease it states that the lessee, upon the sale of the
$2,500.00. This fee may be reduced or waived if, in the sole
would constitute a hardship upon the Lessee. The lessee, Brad
requesting that the transfer fee be waived. Mr. Kraushaar, a qualified
for $125,000 and is now selling the home for $120,000.
The pending sale is contingent on this waiver, and if the waiver
before Council on June 9, 2011. The new purchaser is also a qualified
Attachments:
• Letter from Mike Maciaszek — Realtor
• Amended Restated Ground Lease V2
developed for community
housing. The land
buyer qualifies for
year, otherwise the
Section Three
transfer fee of
such transfer fee
McCall Ave is
the home in 2009
will come
lease specifies that if a
then their rent is $1 a
of the home. Also under
home, shall pay a lease
discretion of the City,
Kraushaar, of Lot 4, 1543
buyer, purchased
is granted a lease assignment
buyer.
RECOMMENDED ACTION:
Direct staff to draft a letter approving the waiver of the $2500 transfer fee and authorize the Mayor to sign
all necessary documents.
RECORD OF COUNCIL ACTION
MEETING
DATE
ACTION