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<br /> <br /> <br /> <br /> <br />To: Honorable Mayor Adams and City Council <br /> <br />From: Julie Feier, City Manager <br /> <br />Date: July 28, 2006 <br /> <br />Subject: Weekly Update for July 21 and July 28 <br /> <br /> <br />Due to the electricity being off last week, there was no weekly report. It is my <br />“weekly” <br />intent to distribute a every Friday, Thursdays on weeks with outgoing <br />agendas. I received email lists from several Council people. The weeklys will be <br />distributed to these and any other interested parties digitally, the same day they <br />are delivered to Council. <br /> <br /> Parkview Gardens real estate analysis. <br />Council Member Price requested aWe <br />conducted a brief market analysis of properties in Parkview Gardens. The <br />information sources for this analysis include: Dan Wald and Mike Giger of <br />Parkview Gardens, Mark Rubin of the Saaman Corporation, and Barb Heise, <br />Realtor, as well as a review of the MLS listings. <br /> <br /> <br />AVERAGES for:New Construction Costs <br />$200-$230 per square foot (minimum) <br />(i.e. a 1,000 square foot unit would cost $200,000) <br /> <br />Existing Construction Costs: <br />$150-$200 per square foot <br /> <br />RENTAL UNITS: 1 Bedroom Apartments $600-$800 per month <br />Units subsidized under Section 43 Tax Credit: $390 <br /> <br />2 Bedroom Apartments $750-$1150 per month <br />Units subsidized under Section 43 Tax Credit: $500 <br /> <br /> <br /> <br />