03-14-2013
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3/14/2013 2:09:40 PM
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<br />Item 4d. <br />Hardship Acquisition Program Update March 2013 • Eight original hardship applications were received in June 2012. • Three of the original applications were approved for acquisition. <br />• Two properties in Oxbow have been acquired. o 744 Riverbend Road o 105 Oxbow Drive • A property management firm has been retained to administer renting of these properties. o 744 Riverbend <br />Road was rented beginning February 15 o 105 Oxbow Drive is being marketed • The owners of 121 Oxbow Drive (hardship acquisition #3) requested a second appraisal, which was completed <br />in February 2013. The second appraisal is almost 50 percent higher than the first. HMG has hired a third appraiser to conduct a technical review of the two appraisals, and advise the <br />PMC. That review should be completed in late March, after which a recommendation will be made to the Early Acquisition Sub-Committee. • A ninth application was recently submitted for <br />another property in Oxbow (346 Schnell Drive). The Hardship Review Committee met on February 13 and recommended to the Land Management Committee that it be acquired as a hardship. The <br />Land Management Committee approved this recommendation at its February meeting. • The PMC has authorized conducting an appraisal of 346 Schnell Drive. The appraisal should be complete <br />in early April.
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