The city of Derby has agreed to purchase a home at 260 W. Meadowlark owned by Victoria Gipson. Property on both sides of Meadowlark, east of the businesses bordering Nelson Drive, is expected to become a new roadway.
A local home has been purchased by the city of Derby for the future realignment of Nelson Drive.
At its meeting on Aug. 14, the city council approved the purchase of the residence at 260 W. Meadowlark. The home is located where road realignment of Nelson Drive is tentatively scheduled for 2016, according to Phil Alexander, city attorney.
The city is purchasing the 1,584 square foot, brick home with a full basement for $134,400. It has held approximately the same value since 2009, according to county online records.
Phil Alexander, city attorney, said negotiations for the property were done on behalf of the city by Gerald Cain of Land Acquisitions, Inc. The home is currently owned by Victoria Gipson.
The purchase will allow Gipson to continue to live in the home for a year after the Aug. 31 closing. Under the terms of the purchase agreement, a $3,600 lease payment has been credited against the purchase price.
Alexander said the landlord’s role is a new one for the city. Council member Randy White said there was concern with potential costs to the city in the event of mechanical break-downs in the home built in 1957.
The city is purchasing a warranty to cover the major systems, at a cost of $540, Alexander said. Council members asked him to check into potential extensions of that warranty, since there is a possibility the lease could be also be extended on the home.
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