The Carmel City Council recently approved a resolution that expresses the city’s interest in purchasing a home on the southeast corner of 106th Street and Lakeshore Drive East.
The home, which is for sale and listed at $415,000, is at an intersection the city plans to convert into a roundabout in the future. Construction will require the city to use some of the existing yard.
The city plans to lease the home until the roundabout is built and then sell the property to a new homeowner. City officials claim this is because it will be easier for a new homeowner to move to the property after the roundabout is complete rather than having someone buy the house and move in shortly before construction begins. Furthermore, city officials say it’s easier since the city will look to obtain land from the property for construction.
Currently, there is no timeline for when the roundabout will be built.
City officials claim since the property will be sold at a later date, purchasing this home will not negatively affect city budgets.
We do not need another rental property in this area. I appreciate the reason for the purposed purchase, but if this house wasn’t for sale, what would the option have been? Ultimately, as long as everything is done well and the property is well maintained, then it should all work out.
Great long range planning. No cost to carry on the books and will be removed later for the good of all.