Land Bank Authority

Rome/Floyd Land Bank Authority Minutes Friday, September 1, 2023 8:30 AM Carnegie Building Training Room Authority Members Present: Others: LaDonna Collins Meredith Ulmer - Assistant City Manager Lowery May Dylan Nelson - City Finance - Senior Accountant David Mathis Toni Rhinehart - City Finance - Director Harry Brock Mary Hardin Thornton - City Finance - Special Projects Manager Kevin Payne - County Tax Commissioner Bruce Ivey - County Special Projects Manager Doug Walker - City Public Information Officer Sherrell Smith – eXp Realty Theo Millsap - Sap’s Construction Staff: Bekki Fox - City Community Development - Director Amanda Carter - City Community Development - Rome/Floyd Land Bank Authority Manager Logan Drake - City Community Development – Administrative Program Assistant Welcome and Call to order: Chairman David Mathis called the meeting to order at 8:37 AM. A quorum was established. Approval of Minutes: Mathis asked for any corrections to the August minutes. Lowery May motioned to approve the minutes, which was seconded by Harry Brock. Motion carried. Financial Report: The financial report was distributed for review and presented by Dylan Nelson. He presented the following: active properties, the cash balance as of August 31st and the 2023 YTD property taxes collected. Property Updates: Closing for 305 E. 20th Street (J15X152), 307 E. 20th Street (J15X151), and 309 E. 20th Street (J15X150) is scheduled for next week. Fox received a $10,700 price quote from Silver Creek Dirt Works to clear brush/ small trees and prepare for final grading. This would also include 303 E. 20th Street (J15X153), where the burned-out home currently is. It would be split up between the four lots and incorporated into the sales price. Staff has reached out to others for additional quotes but has received no responses. The County will demo the burned-out home soon. Debris will be disposed of properly. Updates will be given later. Last month, the Board approved to make an offer of $3,000-$5,000 for the lot located at 311 E. 20th Street (J15X149). Staff explained to Judy Morgan, one of four siblings/owners, what the LBA’s intended use is. Staff asked Morgan if there were an acceptable price, but she did not say. Staff also asked if they would be interested in selling another property they own, 0 Line Street (I14Z147). Morgan stated that she would discuss everything with her siblings. Staff will follow up. LaDonna Collins recapped the recent neighborhood around 216 E. 20th Street (J15X204). Neighborhood residents were open to discussion and receptive to the LBA’s ideas. Collins and Staff all agreed that the outing was a success. They look forward to visiting again and receiving more feedback. The Rome Engineering Services Department will complete survey work for 0 Billy Pyle Road (H13Y678) as soon as they can. Staff will make a variance request at the Board of Adjustments meeting on Thursday, October 19th. Staff provided new home build updates regarding 1 Orchid Place (J14O113) and 7 Forsyth Street (J13J165). Tilework has started in both bathrooms at Orchid Place. Siding will be installed soon. As previously decided, Forsyth Street will now have a crawlspace and underground power. The price differences will not be significant. Updates will be given later. The $30,000 sale price was posted for 312 Kingston Avenue (J13I105). Anyone who previously inquired about the property received the update. While no applications were received before the deadline, one individual is working on submission. Executive Session (Closed): May motioned to enter Executive Session, which was seconded by Brock. Motion carried. Consequently, Theo Millsap and Sherrell Smith left. Discussion was had on selling lots, setting fees/prices, voting on resolutions, and clearing lots. Collins motioned to exit Executive Session and return to open meeting, which was seconded by May. Motion carried. Millsap and Smith re-joined the meeting. The outcomes are listed as follows: • 410 Hardy Avenue (I14W330) & 412 Hardy Avenue (I14W331) The Board considered selling, rather than keeping/developing, the LBA-owned lots located at 410 Hardy Avenue (I14W330) and 412 Hardy Avenue (I14W331). A local private developer has expressed interest, but the usual marketing process would still need to take place. Both lots have clear title. Silver Creek Dirt Works could clear the lots for $7,800. Debate was had as to whether there should be stipulations requiring owner-occupation. After discussion, the Board acted as follows: o May motioned to sell 410 and 412 Hardy Avenue at $15,000 per lot, with no restriction, market the lots for 30 days, advertise on social media, with profits gained be invested back by giving Neighborhood Vitality Beautification Grants to homes on that block/street, which was seconded by Brock. Motion carried. • 1 Orchid Place (J14O113) & Buyers Assistance Program The Board continued the discussion concerning 1 Orchid Place (J14O113). Various ideas were proposed. One option was a flat-rate finder’s fee that could be paid to any realtor that presents a buyer that meets the requirements imposed. Another option was a percentage. The set fee would be limited to new construction. Probable qualifications for financing were mentioned. Staff recently received information highlighting how difficult it would be for the LBA to have a federally approved downpayment assistance program. The house will likely be posted for sale in the market rate $200- 210k range. The LBA will be affected by the nationwide projection that interest rates will fluctuate, but housing prices will not. An Owner Financing option was considered as well. Instead of setting any fees  or prices, the Board decided to table the decision until absent Board members had a chance to discuss as well. • 303 E. 20th Street (J15X153) The Board needed to postpone voting on the resolution due to still being within the 30-day period. The decision will be tabled until October. • 151 Agnes Street (I15W175) The Board discussed parcel I15W175 located at 151 Agnes Street, which vacant and 0.44 acres. If the title were cleared and lot developed, it would be the LBA’s first build in the County. Staff will confirm whether there is already a septic tank. Staff will schedule a site visit so that the Board can see the lot in person. After discussion, the Board tabled the discussion until more information is gathered. Discussion Items The Board discussed parcel I14W563 located at 604 Pennington Avenue, which has a $9,955 value. The LBA- owned lot is 0.22 acres and has clear title. Silver Creek Dirt Works would clear and prep the lot for $2,450. The lot would be adequate to build on. A decision will be made later. Staff stated that they received a complaint about parcel K13X195 located at 411 Superba Avenue. Jett Law Firm has already cleared the title. Since neighbors have complained about the lot being overgrown, the LBA will make sure the lot is cleared and prepped. Staff will get an estimate soon. After discussion, May motioned to clean the lot for a price up to $3,500, which was seconded by Brock. Motion carried. Once everything has been cleared and prepped, the LBA will make sure the grass is mowed for both properties. Fox showed everyone before and after photos of LBA success stories. Staff will inform Code Enforcement of complaints regarding the home located at 301/303 Walnut Avenue (J16Y244) in Lindale. Staff explained the Friendly Condemnation process. Other Business: Theo Millsap of Sap’s Construction expressed his interest in getting involved in affordable housing. Millsap has spoken with the LBA before and wanted to check in. Regarding 415 E. 20th Street (J15X137), Sherrell Smith of eXp Realty informed the LBA that there has been title issues and a withdrawal. The next regular meeting is scheduled for Friday, October 6, 2023, at 8:30 AM. There being no further business to discuss, the meeting was adjourned at 9:49 AM. Respectfully submitted, Logan Drake Recording Secretary