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-.1111" r <br />IAN MARC`Ob <br /> DEVELOPMENT SERVICES - COMMUNITY DEVELOPMENT <br /> MBVK) <br />To: Rick Menchaca, City Manager <br />FROM: Janis Hendrix, CDBG Program Administrator <br />DATE: FEBRUARY 17, 2010 <br />RE: NSP Grant Foreclosure Purchase <br />• Address: 221 Capistrano Drive, El Camino Real Subdivision <br />• Description: Three bedroom, two full bath home with 2-car garage, utility room <br />. 1302 sq. ft. <br />• Age: 4 Years (constructed in 2006) <br />• Tax Appraisal Value: $101,300 (reduced from $117,170 in 2007) <br />Approved <br />The following foreclosed residence is available for purchase and is an appropriate choice for <br />meeting our NSP Grant requirement of acquiring 3 homes; performing minor rehabilitation/ <br />energy efficiency upgrades as needed; and reselling the homes to low-income families. <br />Foreclosures as sold "as-is"; the City's due diligence will include a property inspection and <br />appraisal prior to closing. <br />• Condition: Like new - fresh paint throughout, new carpet, bathroom fixtures <br />extremely clean (appear new). Small lot with privacy fencing in back yard. Stove and <br />refrigerator not included (City will furnish with energy efficient units). <br />• Proposed Offer Price: $100,100 <br />Authorization to proceed with offer: <br />Comments: <br />Denied <br />• <br />Rick Menchaca, City Manager <br />to