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Falls City to buy 1612 Fulton Street from land bank for rural workforce housing fund
Summary
Council approved transferring title of 1612 Fulton Street from the land bank to the city and paying the land bank $6,532.68 to clear the way for a rural workforce housing fund project; the city expects to recover costs when the lot is sold.
Falls City approved a resolution to transfer title for 1612 Fulton Street from the land bank to the city and to pay the land bank $6,532.68 as part of a rural workforce housing fund project.
City staff said legal review indicated the city must hold title to proceed with construction under the rural workforce housing program; the proposed transfer requires the city to reimburse the land bank for its costs. Staff described the payment of $6,532.68 to the land bank and said proceeds from a future sale of the lot would reimburse the city for that amount and any additional costs.
During discussion staff referenced an expected sales range for the finished lot “around $320,000 to $330,000” though the transcript contained an imprecise figure; staff said the final sale price will determine the ultimate reimbursement to the city. Councilmembers moved, seconded and approved the resolution with seven yeas.
Staff said the property transfer is intended to allow the city to complete construction and sale as part of the rural workforce housing fund project; no construction contract award or timeline was adopted at the meeting.
