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Warren approves sale of two city‑owned homes through direct buyer‑assistance program; projects to sell below construction cost
Summary
The council approved sales of two city‑owned single‑family homes through the direct home buyer assistance program. Council discussion said construction costs exceeded the appraised sale prices, creating an expected loss for the city on both properties.
The Warren City Council on Tuesday approved resolutions to sell two city‑owned single‑family homes to eligible low‑ to moderate‑income households through the city’s direct home buyer assistance program.
Council members identified one property as 23230 Bolam (as clarified during discussion). City staff reported the construction cost for that project as $294,464. The staff presentation said the property is expected to sell at its appraised value, which was recorded in the meeting transcript as “200” (the record did not specify units or a full numeric amount). Staff said the second property’s project cost was $284,424; the meeting record indicated that both sales will result in a financial loss to the city relative to construction costs.
Councilwoman Mindy Moore made the motion to approve; Councilman Jonathan Lafferty supported it. When asked, city staff confirmed both homes would be sold below the stated construction cost. The council voted unanimously to approve the sales.
The approvals in this meeting authorized sale under the direct home buyer assistance program subject to any program rules and the appraisals noted in the meeting record. The city did not discuss the buyer household identities at the meeting.
