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Homestead council authorizes manager to negotiate purchase of 406 Washington Ave.
Summary
Council authorized the city manager to make an offer and negotiate a purchase-and-sale agreement for 406 Washington Ave., a downtown commercial property; council raised questions about price, interim uses and funding sources.
The City Council of the City of Homestead on Aug. 5 authorized the city manager to make an offer and execute a purchase-and-sale agreement for the property at 406 Washington Ave. following a presentation from the CRA director and staff.
CRA Director presented the parcel as a visible downtown property that aligns with the city’s downtown charette vision. The broker’s asking price was cited as $2,895,000 and the expedited appraisal was reported at $2,833,000 based on comparable auto-service facilities. Staff told council there would likely be additional costs after acquisition for demolition, site remediation and future redevelopment, and that the city could consider interim lease arrangements or leaseback negotiations with the current operator.
During discussion council members voiced differing views. Several members said owning the corner would help the city control future downtown redevelopment; others expressed “sticker shock” and compared the proposed purchase price to other city-owned properties the council had sold or acquired. Council and public speakers asked which funds would be used; staff replied that funding source(s) would be identified during due diligence and be presented to council when bringing a contract for final approval.
A motion authorizing the manager to make an offer not to exceed $2,000,008.95, with a due-diligence period, was moved and seconded. The council took a roll-call vote and approved the motion.
Council vote (roll call): Councilman Roth — no; Councilman Davis — yes; Councilwoman Bailey — yes; Councilwoman Avila — yes; Councilman Cannonball — yes; Vice Mayor Fletcher — yes; Mayor (presiding) — yes.
