HomeMy WebLinkAboutCity Council Resolution 2002-534CITY OF PLYMOUTH
RESOLUTION NO. 2002-534
POLICY FOR CITY PURCHASE AND
RE -SALE OF RESIDENTIAL PROPERTIES
WHEREAS, the City of Plymouth purchased and resold seven homes as a part of the
County Road 101 improvement project during 2001 and 2002; and
WHEREAS, the City does not routinely offer properties it acquires for re -sale; and
WHEREAS, the Plymouth City Council finds it beneficial to use the experience gained in
the purchase and re -sale of these properties to establish policies to guide the future re -sale
of residential properties;
NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Plymouth,
Minnesota, that the following policy be adopted to guide the future purchase and re -sale
of residential property in the City:
This policy applies only for residential properties to be acquired on a voluntary basis and
eventually re -sold to the general public through an open process other than formal sealed
bids after the City's public purposes have been met. Prior to the purchase of the property:
1. The City Council may consider engaging a realtor through a process it shall
determine who is active in residential transactions in the City to represent the City
and help establish a fair purchase price.
2. The City Attorney will review the purchase agreement and take all reasonable
actions to assure that State and Federal relocation requirements have been met
including any required disclosures to the owners or any renters on the property.
3. The City Manager will require the City Building Official to inspect the property
and report all code violations and material defects to the Mayor and City Council.
At or before the time of the public hearing required by the City Charter on the proposed
disposition of residential property to members of the general public, the City Council will
consider a procedural plan upon recommendation of staff addressing the following items:
1. Identify who is authorize to represent the City in the sale of the property and their
specific authority to negotiate or make counteroffers on behalf of the City.
2. Include a process for having the City Attorney review major documents before
presentation to the Council for approval.
3. Determine a process for hiring a real estate agent, if any.
4. Review a report by the City staff on the condition of the property, including any
violations of City Doe, and recommendations on needed repairs before re -sale.
5. Identify how the proposed sale price will be determined and decided.
6. Designate a specific individual or party to provide for the maintenance of the
property until the property is sold.
7. Establish timelines for various aspects of the process, including any deadlines for
receiving offers.
8. The Purchase Agreement and public notices about the re -sale of the property will
include language that the City must observe laws and procedures not required of a
normal seller and that all proposals and offers are public information available to
all members of the public including other bidders.
The City Council may add to or amend any element of the procedural plan based upon
any specific facts and circumstances that may be present. This policy is intended as a
suggested guideline for consideration, and does not bind the City of Plymouth to any
specific actions in the future.
Adopted by the City Council on November 26, 2002.