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Heath EDC seeks additional property management proposals to ready 217 and 305 Lawrence for rent; utilities restored
Summary
The board reported having one proposal for property management of EDC‑owned homes at 217 and 305 Lawrence Drive, confirmed utilities are on at both houses and insurance coverage is in place, and requested at least two more proposals with an aim to review them in November or at a special meeting if needed.
The Heath Economic Development Corporation discussed efforts to secure property management proposals for two EDC‑owned houses at 217 and 305 Lawrence Drive.
Staff reported receipt of a single proposal from Stan Britton and said several other potential managers had not yet submitted bids because utilities were not available for contractor inspections. Staff confirmed both properties now have power and that insurance coverage is in place under the city’s policy. The board said it wants a minimum of three proposals to compare improvement cost scenarios and projected rental values.
Board members said power restoration and key access have removed earlier barriers to inspections. Staff said the city has set up a key system so contractors can inspect properties without city staff presence. The board discussed timelines: if proposals are available before the November meeting the board could call a special meeting with the legally required notice (three business days posted notice was discussed) rather than wait until the regular November meeting.
Members also discussed the scope of required improvements to make the houses rentable and the need to quantify expected rental returns under different improvement scenarios. One board member noted cosmetic work could increase rent by roughly $1,500 to $2,000 per month in potential revenue, and staff said that will be part of the forthcoming analysis. The board directed staff to pursue additional proposals and to return with cost and rent projections for a November decision or a special meeting to be scheduled if proposals arrive sooner.
