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What’s Been <br />Happening <br />Fall 2021 <br />•Began negotiations with Nimitz Motel <br />•Memorandum of Understanding with Eden Housing, <br />Inc. & Building Futures with Women and Children <br />•State Project Homekey 2.0 Request for Proposals <br />November 2021 <br />•City initiated formal appraisal <br />December 2021 <br />•Appraisal completed ($5.8 million) <br />•City offer - $5.8 million <br />January-February 2022 <br />•Owner counter - $6.15 million <br />•Drafting of Purchase Agreement