NOW THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE CITY OF BOISE, IDAHO:

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1 RESOLUTION NO. BY THE COUNCIL: CLEGG, EBERLE, JORDAN, MCLEAN, SHEALY AND THOMSON A RESOLUTION APPROVING A REAL ESTATE PURCHASE AND SALE AGREEMENT AND FIRST AND SECOND ADDENDA THERETO BY AND BETWEEN THE CITY OF BOISE CITY, AS SELLER, AND JOSEPH VOLPE AND AMY LEIGH LINDBERG, AS BUYERS, FOR REAL PROPERTY LOCATED AT 4957 SHIRLEY AVENUE, BOISE, ADA COUNTY, IDAHO; AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AND ATTEST SAID AGREEMENT ON BEHALF OF BOISE CITY; FURTHER AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AND ATTEST TO ALL DOCUMENTS NECESSARY TO COMPLETE THE PURCHASE OF SAID PROPERTY; AND PROVIDING AN EFFECTIVE DATE. NOW THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE CITY OF BOISE, IDAHO: Section 1. That the Real Estate Purchase and Sale Agreement and First and Second Addenda thereto entered into between the City of Boise City and Joseph Volpe and Amy Leigh Lindberg, in the form attached hereto as Exhibit A, are hereby approved as to form and content. Section 2. That the Mayor and City Clerk be, and they hereby are, authorized to respectively execute and attest to said Purchase and Sale Agreement and First and Second Addenda thereto and all other documents necessary to complete the sale of the property for and on behalf of the City of Boise City. Section 3. That this Resolution shall be in full force and effect immediately upon its adoption and approval. ADOPTED by the Council of the City of Boise, Idaho, this day of March, APPROVED by the Mayor of the City of Boise, Idaho this day of March, APPROVED: ATTEST: David H. Bieter Mayor Craig Croner Interim City Clerk R

2 INTERDEPARTMENTAL MEMO TO: Mayor & City Council FROM: Jade Riley, Mayor s Office DATE: March 4, 2011 SUBJECT: West Shirley Property The City of Boise owns a 1,891-square-foot house on acre at 4957 W. Shirley Ave. The property was purchased in August 2006 for a future fire station serving Northwest Boise. Subsequently, however, the conditional use permit needed to utilize the property as a fire station was denied by the Planning and Zoning Commission. Since then, Fire has selected a more acceptable alternative station site in the area. The Shirley Avenue house, which was under renovation at the time of the purchase, will require significant repairs to finish the kitchen and upstairs bath. No one has occupied the house since In 2009 it was decided to surplus the property to recover at least a portion of the expenditure and return the property to the tax rolls. An appraisal in September 2009 put the value at $155,000, so an auction was conducted with a minimum bid requirement of $155,000. No bids were received, so the property was listed on MLS at $155,000. An offer of approximately $80,000 was received during 2010, but no counter was made on advice of our consultant. The asking price was dropped to $125,000 in mid An offer of $100,000 was received last week. The amount offered for purchase is similar to what other homes of this size and quality in that area of town have sold for recently; according to our real estate consultant, this is a fair offer for the market at this time. Recovering the initial investment in the near term (five years) is unlikely based on economic conditions and the housing market, and the property continues to be a financial liability to the city due to ongoing expenses such as upkeep, some utilities, and repairs as well as the loss of property tax dollars. Staff has consulted with the Mayor and Council President, who believe that this purchase offer is acceptable. Should the Council disagree, staff would recommend taking the house off the market and directing the Housing and Community Development Division to manage the property as a rental unit. However, as noted above, preparing the property for occupancy would involve additional costs up to $10,000. With the Council s approval, the transaction would close on March 25, 2011.

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