HomeMy WebLinkAboutWHA BOARD MEETING AGENDA - 04/24/2008 AGENDA
WATERLOO HOUSING AUTHORITY BOARD
Thursday, April 24 Th, 2008
8:15 or following the agenda meeting
:= * := ** * : *************************
Council Chambers, 715 Mulberry Streets
A. Approval of Agenda
B.
C. Old business
Update on the construction of single-family homes.
D. New business
1. Approval of the City of Waterloo Housing Authority
purchase of three lots on Oneida across from Fergurson
Field.
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620 Mulberry St., Carnegie Annex • Waterloo, IA 50703 • (319) 233-0201 Fax (319) 291-4288
c;?'OrIoo \o DONALD TEMEYER • Community Planning&Development Director
Mayor
TIMOTHY J. Date: April24th, 2008
HURLEY
To: Mayor Tim Hurley and City Council
COUNCIL
MEMBERS From: Ethel Washington, Director, Waterloo Housing Authority
REGINALD A. Re: Request to purchase three lots to build four single-family homes.
SCHMITT
Ward I
CAROLYN The city of Waterloo's Housing Authority is requesting the utilization of the 5-(h)
COLE funds. This funding was obtained from the scattered sites grant from HUD to the
ward 2 Waterloo Housing Authority in 1993. Waterloo Housing is requesting the funds to
purchase lots and build approximately four single-family homes.
HAROLD
GETTY
Ward 3 The Housing Authority requested Board Approval to find lots to purchase on
September 20th, 2007. The plan was to build at least two to three homes in a
QUENTIN M. cluster and at the same time save on cost and to build equity faster in the home
HART and the neighborhood.
Ward 4 g
RON The lots found for purchase are on Oneida, Street across from Ferguson
WEEPER Field currently owned by Mr. Wiley Lodge of Minnesota,which are priced at
Ward 5 $15,000.00 for the three lots. The lots appraised at $6,000.00 each. A copy of the
BOB appraisal is attached.
GREENWOOD
At-Lorne WHA is requesting from the Mayor and WHA Board to purchase the following
STEVE three lots on Oneida; the parcel numbers are 8913-24-281-013, 8913-24-281-014,
SCHMITT 8913-24-281-015. (see attached documentation)
At-Lar;c
CITY WEBSITE:www.ci.waterloo.ia.us
WE'RE WORKING FOR YOU!
An Equal Opportunity/Affirmative Action Employer
REAL ESTATE PURC}{ASE AGREEMENT
TO: Wiley Yotmg Lodge,I.I, and Alfreda Lodge("Seller")
FROM: Waterloo Housing Authority("Buyer")
OFFER.: Buyer hereby offers to buy, and the Seller by its acceptance agrees to sell, the real
property situated in Waterloo, Black Hawk County, Iowa, in the 900 block of Oneida Street,
designated as Black Hawk County Assessor parcel nos. 8913-24-281-013, 8913-24-281-014,and
8913-24-281-015, with legal description as set forth in abstract of title, together with any
easements and appurtenant servient estates,but subject to any reasonable easements of record for
public utilities or roads, any zoning restrictions, customary restrictive covenants and mineral
reservations of record, if any (all of which interests are herein referred to as the "Property"),
upon the following terms and conditions:
1. EARNEST MONEY AND PURCHASE PRICE. The Purchase Price shall be '•.✓ cao.o C)
of which $100.00 is on deposit with the law firm of Clark, Butler, Walsh & Hamann, to be held
in trust, and the balance of the Purchase Price shall be due and payable in full at closing, to be
delivered to the Seller upon performance of Seller's obligations and satisfaction of Buyer's
contingencies, if any. If this Agreement is not accepted by Seller or if it is rescinded by Buyer
for failure of title or any other reason provided for in this Agreement, then the earnest money
shall be returned to Buyer. Any other release of earnest money shall require the written consent
of both parties.
2. POSSESSION AND CLOSING. If Buyer timely performs all obligations, possession of
the Property shall be delivered to Buyer at closing. Closing shall occur on or before June 6,
2008, as the parties may hereafter agree,but in any event after the approval of title by Buyer and
satisfaction or waiver of contingencies,if any.
3. REAL ESTATE TAXES. Seller shall pay taxes prorated to the closing date and any
unpaid real estate taxes payable in prior years. Buyer shall pay all subsequent real estate taxes.
Unless otherwise provided in this Agreement, at closing Seller shall pay Buyer, or Buyer
shall be given a credit for, taxes from the first day of July prior to possession to the date of
possession based upon the last known actual net real estate taxes payable according to public
records. However, if such taxes are based upon a partial assessment of the present property
improvements or a changed tax classification as of the date of possession, such proration shall be
based on the current levy rate, assessed value, legislative tax rollbacks and real estate tax
exemptions that will actually be applicable as shown by the assessor's records on the closing
date.
4. SPECIAL ASSESSMENTS. Seller shall pay at time of closing all installments of special
assessments which are a lien on the Property as of closing, and all prior installments thereof. All
charges for solid waste removal, sewage and maintenance that are attributable to Seller's
possession, including those for which assessments arise after closing, shall be paid by Seller.
Any preliminary or deficiency assessment which cannot be discharged by payment shall be paid
by Seller through an escrow account with sufficient funds to pay such liens when payable, with
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any unused funds returned to Seller. Buyer shall pay all other special assessments or
installments not payable by Seller.
5. RISK OF LOSS AND INSURANCE. Seller shall bear the risk of loss or damage to the
Property prior to closing, Seller agrees to maintain existing insurance, and Buyer may purchase
additional insurance. In the event of substantial damage or destruction prior to closing, the
Buyer shall have the option to complete the closing and receive insurance proceeds regardless of
the extent of damages or to declare this Agreement null and void. The Property shall be deemed
substantially damaged or destroyed if it cannot be repaired to its present condition on or before
the closing date.
6. FIXTURES. Included with the Property shall be all fixtures that integrally belong to, are
specifically adapted to or are a part of the real estate,whether attached or detached.
7. CONDITION OF PROPERTY. The Property as of the date of this Agreement, including
buildings, grounds, and ail improvements,will be preserved by the Seller in its present condition
until possession, ordinary wear and tear excepted. Seller sells the Property "AS IS" and makes
no warranties,expressed or implied, as to the condition of the Property. Within 30 days after the
acceptance of this Agreement, Buyer may, at its sole expense, have the property inspected by a
person or persons of its choice to determine if there are any environmental or other deficiencies.
Seller shall cooperate in providing reasonable access to Buyer's inspectors. Within this same
period, the Buyer may notify the Seller in writing of any deficiency. The Seller shall
immediately notify the Buyer in writing of what steps, if any, the Seller will take to correct any
deficiencies before closing. The Buyer shall then immediately in writing notify the Seller that
(1) such steps are acceptable, in which case this Agreement, as so modified, shall be binding
upon all parties; or (2) that such steps are not acceptable, in which case this Agreement shall be
null and void, and any earnest money shall be returned to Buyer.
8. ABSTRACT AND TITLE. Seller, at its expense, shall obtain an abstract of title to the
Property continued through a date that is within thirty (30) days of the closing, and deliver it to
Buyer's attorney for examination. It shall show marketable title in Seller in conformity with this
Agreement, Iowa law, and title standards of the Iowa State Bar Association. The Seller shall
make every reasonable effort to promptly perfect title. If closing is delayed due to Seller's
inability to provide marketable title,this Agreement shall continue in force and effect until either
party rescinds the Agreement after giving ten days' written notice to the other party. The
abstract shall become the property of Buyer when the Purchase Price is paid in full, Seller shall
pay the costs of any additional abstracting and title work due to any act or omission of Seller,
including transfers by or the death of Seller or its assignees. Unless stricken, the abstract
continuation shall be obtained from the Black Hawk County Abstract Company.
9. SURVEY. If a survey is required under Iowa Code Chapter 354, or city or county
ordinances, Seller shall pay the costs thereof. Buyer may, at Buyer's expense prior to closing,
have the Property surveyed and certified by a registered land surveyor. If the survey snows an
encroachment on the Property or if any improvements located on the Property encroach on lands
of others,the encroachments shall be treated as a title defect.
10.ENVIRONMENTAL MATTERS.
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A, Seller warrants to the best of its knowledge and belief that there are no abandoned
wells, solid waste disposal sites, hazardous wastes or substances, or underground storage
tanks located on the Property, the Property does not contain levels of radon gas, asbestos, or
urea-formaldehyde foam insulation which require remediation under current governmental
standards, and Seller has done nothing to contaminate the Property with hazardous wastes or
substances. Seller warrants that the property is not subject to any local, state, or federal
judicial or administrative action, investigation or order, as the case may be, regarding wells,
solid waste disposal sites, hazardous wastes or substances, or underground storage tanks.
Seller shall also provide Buyer with a properly executed groundwater hazard statement
showing no wells, solid waste disposal sites, hazardous wastes and underground storage
tanks on the Property unless disclosed here:
B, Buyer may at Buyer's expense, within 30 days after the date of acceptance of this
Agreement, obtain a report from a qualified engineer or other person qualified to analyze the
existence or nature of any hazardous materials, substances, conditions or wastes located on
the Property. Seller shall cooperate in providing reasonable access to Buyer's inspectors and
engineers. In the event any hazardous materials, substances, conditions or wastes are
discovered on the Property, Buyer's obligation hereunder shall be contingent upon the
removal of such materials, substances, conditions or wastes or other resolution of the matter
reasonably satisfactory to Buyer. However,in the event Seller is required to expend any sum
in excess of $1,000 to remove any hazardous materials, substances, conditions or wastes,
Seller shall have the option to cancel this transaction and refund to Buyer all earnest money
paid and declare this Agreement null and void. The expense of any inspection shall be paid
by Buyer, The expense of any action necessary to remove or otherwise make safe any
hazardous material, substances, conditions or waste shall be paid by Seller, subject to Seller's
right to cancel this transaction as provided above.
11. DEED. Upon payment of the Purchase Price, Seller shall convey the Property tc Buyer
by warranty deed, free and clear of all liens,restrictions, and encumbrances except as provided in
this Agreement. General warranties of the title shall extend to the time of delivery of the deed
excepting liens and encumbrances suffered or permitted by Buyer.
12.JOINT TENANCY IN PROCEEDS AND IN REAL ESTATE. If Seller, immediately
preceding acceptance of the offer, holds title to the Property in joint tenancy with full rights of
survivorship, and the joint tenancy is not later destroyed by operation of law or by acts of the
Seller, then the proceeds of this sale, and any continuing or recaptured rights of Seller in the
Property, shall belong to Seller as joint tenants with full rights of survivorship and not as tenants
in common; and Buyer in the event of death of any Seller, agrees to pay any balance of the price
due Seller under this contract to the surviving Seller and to accept a deed from the surviving
Seller.
13. JOINDER BY SELLER'S SPOUSE. Seller's spouse, if not a title holder immediately
preceding acceptance, executes this Agreement only for the purpose of relinquishing all rights of
dower, homestead, and distributive share or in compliance with Section 561.13 of the Code of
Iowa and agrees to execute the deed or real estate contract for this purpose.
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14.LIENS. Buyer does not intend to assume or take subject to any liens on the Property.
Seller shall furnish Buyer prior to closing with releases from the holder of any such liens on the
Property showing that any and all liens on the Property have been discharged. Failure to provide
proof of same shall render this agreement null and void.
15. USE OF PURCHASE PRICE. At time of settlement, funds of the Purchase Price may be
used to pay taxes and other liens and to acquire outstanding interests,if any, of others.
16. 1031 EXCHANGE. N/A.
17. APPROVAL OF COURT, N/A.
18, REMEDIES OF THE PARTIES.
A. If Buyer fail to timely perform this Agreement, Seller may forfeit it as provided in the
Iowa Code (Chapter 656), and all payments made shall be forfeited; or, at Seller's option,
upon thirty days' written notice of intention to accelerate the payment of the entire balance
because of Buyer's default(during which thirty days the default is not corrected), Seller may
declare the entire balance immediately due and payable. Thereafter this Agreement may be
foreclosed in equity and the Court may appoint a receiver.
B. If Seller fails to timely perform this Agreement, Buyer has the right to hr.ve all
payments made returned to it,or Buyer may require specific performance by Seller.
C. Buyer and Seller are also entitled to utilize any and all other remedies or actions at
law or in equity available to them, and the prevailing parties shall also be entitled to obtain
judgment for costs and attorney fees.
19.NOTICE. Any notice under this Agreement shall be in writing and be deemed served
when it is delivered by personal delivery or mailed by certified mail, addressed to the parties at
the addresses given below.
20, GENERAL PROVISIONS, In the performance of each part of this Agreement, time
shall be of the essence. Failure to promptly assert rights herein shall not, however, be a waiver
of such rights or a waiver of any existing or subsequent default. This Agreement shall apply to
and bind the successors in interest of the parties. This Agreement shall survive the closing. This
Agreement contains the entire agreement of the parties and shall not be amended except by a
written instrument duly signed by Seller and Buyer. Paragraph headings are for convenience of
reference and shall not limit or affect the meaning of this Agreement. Words and phrases herein
shall be construed as in the singular or plural number, and as masculine, feminine or neuter
gender according to the context.
21.NO REAL ESTATE AGENT OR BROKER. Neither party has used the service of a real
estate agent or broker in connection with this transaction.
22. ADDITIONAL PROVISIONS.
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A. The parties acknowledge that Buyer is acquiring the Property for economic development
purposes. Buyer's rights and duties under this Agreement are assignable to any person or
entity that will further the economic development objectives contemplated by Buyer.
B. Special contin encies to effectiveness of Agreement. Notwithstanding any signatures
below by representatives of Buyer, this Agreement is expressly subject to approval by the
board of Buyer.
23. ENTIRE AGREEMENT. This Agreement represents the entire agreement between the
parties, superseding all prior or contemporaneous understandings, negotiations, discussio is, or
agreements between the parties with respect to the subject matter hereof,
24, ACCEPTANCE. When accepted,this Agreement shall become a binding contract. If not
accepted and delivered to Buyer on or before April 2, 2008, this Agreement shall be null and
void. Seller accepts the terms hereof as of the date set forth below.
Dated 4 '/O,9 ,2008.
BUYER SELLER
Waterloo Rousing Authority
By Wileyoun` od e II
: '
Title: g
By:Title: lfre Lodge
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Ethyl Washington April 10, 2008
103 Irene Ct
Waterloo, Iowa 50701
319-234-0657
Lots 1- - -i Rose Hill 50x140 $6,000 Estimated Value Each
900 Block Oneida St Best Comp Sale
Location across from 314-320 Madison
Furgeson Park
Sales: Size: Price: Buyer:
433 Beech 60x140 $4,667 John Rooff
3 Lots @ $14,000
115 Albany 60x140 $2,000 John Rooff
306 Madison 50x128 $3,000 Select Homes/Deeds
10 Lots @ $30,000
314-320 Madison 50x128 $6,000 John Rooff
Each Lot
540 Colorado 60x142 $4,500 Frickson
324 Lester 51x144 $4,500 Wilson/Contract
Listings: Owner:
Lot 1 Bratnober 60x150 $5,000 Brinkema
320 Newell 60x140 $3,800 Bankowski
7 Lots Cloverdale Each 40x130 $4,000 Brinkema
Larry L. Moser
Certified Residential Appraiser #CR01409
Moser Real Estate
814 Sheridan Rd. '
Waterloo, Iowa 50701
319-235-0050
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http://www2.eo.black-hawk.is.us/website/bhmap/MapFrame.htm 4/16/2008
DlaCK Mawr. county lJetallea I atcel Report Page 1 or l
• A
BLACK HAWK COUNTY REAL ESTATE ASSESSMENT AND TAX INFORMATION
Parcel ID Deed Holder Tax Mail to Address
8913-24-2$1-014 LODGE,WILEY YOUNG III LODGE,WILEY YOUNG III
LODGE,ALFREDA LE LODGE,ALFREDA LE
PDF No. Map Area Contract Buyer PO BOX 14603
7 EWTLO-12 MINNEAPOLIS, MN 55414-0603
Property Address Current Recorded Transfer
00000 Date Drawn Date Filed Recorded Document Type
00000-0000 8/22/2006 8/28/2006 2007 004848 D
ASSESSED VALUES/CREDITS
Year Class
2007 R
100% Land Dwelling Building M/E Total Acres
Value 2,680 0 0 0 2,680 0 -
(Taxable Land Dwelling Building `M/E Total
Value 1,181 0 0 0 1.181 I
Year Class
2006 IR
100% Land Dwelling Building M/E Total cres
Value 2,500 0 0 0 2,500 J0
Taxable Land Dwelling Building M/E Total
Value 1,139 0 0 0 1,139
Year Class
2005 R
100% Land Dwelling Building M/E Total Acres
Value 2,500 0 0 0 2,500 0 -
Taxable Land Dwelling (Building M/E Total
Value 1,150 0 0 �0 1,150
TAX INFORMATION ASSESSMENT YEAR 2006 PAYABLE 2007/2008
Tax 940001 -WATERLOO
District
Gross Value Taxable Value Military Exemption Levy Rate Gross Tax Net Tax
Corp 2,500 1,139 0 44.11066 $50.24 550 00
Nocorp 0 0 0 0 $0.00 -
Homestead Credit Disabled Veteran Credit Property Tax Relief Credit Ag Credit Family Farm Credit
Corp $0.00 $0.00 $0.00
$0.00 $0.00
Nocorp $0.00
LEGAL
ROSE HILL FIRST ADDITION LOT 18 BLK 10
LAND
Basis Front Rear Side 1 Side 2 Lot Area Acres
Front Foot 50 50 140 140 0 7000 0.161
Totals: 7000 0.161
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