ITEM TITLE:
Work Session: Discussion of Housing Subcommittee Recommendation – Purchase of Parcels in St. Patrick Subdivision
SUBMITTED BY: City Council Housing Subcommittee
FISCAL NOTES:
Expenditure Required: N/A
Unencumbered Balance: N/A
Funding Source: N/A
RECOMMENDATION:
Receive and file.
SUMMARY STATEMENT:
The Housing Subcommittee, composed of Mayor Fleming, Council Member Devens and Council Member Witte, met to discuss options moving forward to achieve the City Council priority of increasing the housing stock in Valdez by the fall of 2027. Developing a new subdivision would be costly and take time. Efforts to encourage development in the existing St. Patrick Subdivision would achieve more timely outcomes.
A map of available lots and the listed sale price is attached for review. Owner Bill Harris has indicated that if the city were to purchase all the lots there would be a discount on the listed sale price.
Lots could be used for U.S. Coast Guard housing, teacher or professional housing, auctioned off to the general public, or developed and sold as housing units, among many other options.
The Housing Subcommittee recommendation is to pursue the purchase of the subdivision and use the lots to incentivize near future development.