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12389.3 <br />TO: Mayor and City Council <br />FROM: Mark E. Bernhardson, City Administrate <br />DATS: January 23, 1989 <br />SUBJECT: 1535 Bohn's Point Road <br />This property was listed in the paper as being for sale by the <br />IRS for a minimum bid of about $217,000. This is the first the <br />City has been aware of the issue. The neighbors are concerned <br />about possible use given the size for such things as a business <br />or multiple residence. It was stated that this would require a <br />rezoning (plus a possible comprehensive plan amendment.) It was <br />indicated that the present Council would most likely not approve <br />such a rezoning. It was also indicated that while the City also <br />has a concern, that the City's authority in this property sale is <br />no different than in any other sale of property. <br />The property is valued for tax purposes 1987/payable 1988 at a <br />market value of $965,000 and taxes for 1988 of $30,000. (The <br />house was not completed on 2 January 1987 the date of the 1987 <br />payable 1988 assessment.) <br />The sealed bids must be submitted by February 13, 1989. The sale <br />is of the resident's interest in the property and does not take <br />into account any other interest, liens or mortgages that may also <br />exist. <br />cc: Department Heads