02 Desk Item - Sale of 576 West Parr Avenue Unit 23, 576, and 33V n of
~~S I G A'~Qg
COUNCIL AGENDA REPORT
DATE: September 21, 2009
TO: MAYOR AND TOWN COUNCIL
FROM: GREG LARSON, TOWN MANAGER
MEETING DATE: 9121109
ITEM NO: 2
DESK ITEM
SUBJECT: AUTHORIZE SALE OF 576 WEST PARR AVENUE UNIT 23 AND 576 WEST
PARR AVENUE UNIT 33, AND DIRECT STAFF TO ENGAGE A REAL
ESTATE PROFESSIONAL TO MANAGE SALE
The purpose of this desk item is to provide further information regarding the marketing and sale
of the Below Market Price housing units at Villa Capri.
If Council approves the recommended action, staff would engage a real estate professional to
market the vacant BMP unit, #33. (The unit that is rented would not be marketed until the unit is
vacated at some point in the future.) Unit 433 would be marketed for up to 180 days; non profit
agencies would also be contacted regarding their potential interest. During this period, staff will
investigate options for hiring a property manager as one of the fall-back options is to rent both of
the remaining units. Staff will report back on the status of the two units within the next six to
nine months. If necessary, other sale/lease options will be presented at that time,
PREPARED BY_: Regina A.
Community Cs Director
Reviewed by: '_Assistant Town Manager Town Attorney
Clerk Administrator Finance ommunity Development Director