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Council approves notice to accept deed of workforce-housing unit at 107 N. Taylor Avenue
Summary
Council approved a Notice of Intent to adopt Ordinance O-26-18 to accept a deed transfer of a workforce housing unit at 107 N. Taylor Avenue from TIMO Holdings LLC to streamline escrow for a future sale; no buyer has been identified and the transfer is not on an emergency timeline.
City Manager Ashlee Coronado presented a Notice of Intent to adopt Ordinance O-26-18 to accept transfer of a workforce-housing unit at 107 North Taylor Avenue from TIMO Holdings LLC to the city. Coronado explained the transfer is intended to streamline escrow when a qualified buyer is later identified and that no buyer has been secured; she noted the transfer is not being conducted on an emergency timeline as some prior transactions were.
Councilmember Mel Sowid moved and Councilmember Trish Damon seconded the motion to approve the Notice of Intent; the council approved it unanimously by roll call. Staff indicated further steps would follow if and when a qualified buyer is identified and escrow proceeds.
