Title
RESOLUTION APPROVING A DEVELOPMENT AGREEMENT BETWEEN THE CITY OF DULUTH AND CATALYST HOLDINGS LLC, FOR THE DEMOLITION AND DEVELOPMENT OF 411 NORTH 50TH AVENUE WEST.
Body
CITY PROPOSAL:
Resolved, that the city council of the city of Duluth does hereby approve the Development Agreement between the city of Duluth (“City”) and Catalyst Holdings LLC (“Developer”), substantially in the form of that attached as Exhibit A, related to the 411 North 50th Avenue West residential demolition and development located at 411 North 50th Avenue West in Duluth, Minnesota.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to obtain the city council’s approval of the Development Agreement between the city of Duluth and Catalyst Holdings LLC for the demolition and development on property located at 411 North 50th Avenue West project located at 411 North 50th Avenue West in Duluth, Minnesota. The project will be located on property currently occupied by a blighted building that has been condemned for human habitation.
The Development Agreement provides for the demolition of the structure that was condemned for human habitation in 2017 followed by new development resulting in not less than two units of housing. The City had been speaking with the previous owner on blight remediation prior to them entering into a purchase agreement with Catalyst Holdings LLC. Once Catalyst Holdings LLC had the signed purchase agreement they began to work with the City on blight remediation. Previously allocated FY 2018 Community Development Block Grant (CDBG) funds will support demolition costs following a City issued request for proposal process for qualified remediation/demolition contractors.