The City Commission recently voted unanimously to approve the purchase the Tish Byrd House and Community Gardens property located on W. Georgia Street between N. Macomb Street and N. MLK Jr. Boulevard.  At the request of Parks, Recreation & Neighborhood Affairs (PRNA), and with the recommendation of the Frenchtown Community Action Team (CAT), Real Estate Management staff have negotiated to purchase the property for $300,000. The Frenchtown Community Action Team (CAT) requested that PRNA pursue the purchase of the Tish Byrd House and Community Gardens property for community benefit purposes. The current owner of the property, Big Bend Community Development Corporation (CDC), requested an as-is sale with a purchase price of $300,000.  Per the Real Estate Policy, two appraisers were engaged to provide an analysis and market value estimate of the property.  The appraisals concluded a range of value opinions from $330,000 to $350,000 which supports the CDC’s asking price. Funding for the purchase will come from the $6.4 million that the CRA Board has allocated for the implementation of the Frenchtown Neighborhood First Plan.  Community Benefit As agreed upon by the Frenchtown CAT Leaders, space within the existing residence will be used for offices for Neighborhood Affairs staff and for events and meeting space by the neighborhood. The garden area will function as a community park, which could be reserved for special or private events.  Funding for initial repair/maintenance items and costs of conversion from residential use to community service use, currently estimated to be $100,000, will come from $1,750,000 in funding the Frenchtown Community Action Team has allocated for property acquisition and repairs.  Once renovated, the home and grounds will be managed and maintained by PRNA. Property Acquisitions The Frenchtown CAT believes that one of the ways to influence the destiny of their neighborhood is the ownership, control and/or management of strategic properties throughout the community, including historic properties and key commercial properties.  Developing these properties in a manner that results in community benefit while maintaining the character of historic Frenchtown is seen as key to preserving and moving Frenchtown forward.  Several properties have been discussed as key properties to the renaissance of Frenchtown and adequate funding is needed for property acquisition.  The Frenchtown CAT is proposing that $1,300,000 be allocated for property acquisition and rehabilitation for community benefit.  Coupled with the funds previously allocated for property acquisitions, the Frenchtown CAT will have a total of $1,750,000 available for property acquisitions and rehabilitation.”