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Commission approves $5,000 offer for 608 Rose Street with amended listing-and-rental conditions
Summary
The commission approved a staff-recommended sale of city-owned 608 Rose Street to a private developer for $5,000 cash plus a $5,000 deposit, adding an amendment that lets the buyer rent the unit if it remains unsold after a 180-day listing period while requiring the property stay listed for a year.
The Economic and Community Development Commission approved an offer to purchase 608 Rose Street on March 26, authorizing sale under a development agreement that includes price caps, a conditional rental option and buyer performance checks.
City staff said the City acquired the parcel for $10,000 after environmental review and spent additional funds (staff stated "we had 30,000 into it altogether") related to its fire-damaged condition. The purchaser is developer Steve Schlicht, who proposed building a townhome (one…
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