Memorandum

City of Lawrence

City Manager’s Office

TO:	David L. Corliss, City Manager
FROM:	Diane Stoddard, Assistant City Manager
DATE	October 15, 2014
CC:	Casey Toomay, Assistant City Manager
RE:	Purchase Contract for 1106 Rhode Island

Please place the following item on the consent agenda for October 21, 2014:

Authorize the Mayor to execute a purchase contract with 1106 Rhode Island, LLC for the purchase of the property located at 1106 Rhode Island.

Background:

1106 Rhode Island was acquired by the City of Lawrence through eminent domain as a result of its blighted condition.  The property is a historic property and there was immediate interest expressed by Stan Hernly to save the structure and improve the property.  The City Commission  on July 8, 2014 unanimously approved a proposal from Stan Hernly (1106 Rhode Island, LLC) to purchase the property for a purchase price of $90,000 and also approved the use of the Neighborhood Revitalization Area tool for the property, along with a development grant. 

This action is consideration of the purchase contract between the City and 1106 Rhode Island, LLC., which is the final step in the purchase process. 

Staff recommends that the City Commission authorize the Mayor to execute the purchase contract for the property.