Title
RESOLUTION AUTHORIZING THE CONVEYANCE OF PROPERTY TO ONE ROOF COMMUNITY HOUSING FOR DEVELOPMENT OF AFFORDABLE HOUSING
Body
CITY PROPOSAL:
RESOLVED, by the Duluth Economic Development Authority (“DEDA”), that the proper DEDA officials are hereby authorized to enter into a Land Sale Agreement with One Roof Community Housing, a Minnesota nonprofit corporation (“One Roof”), substantially in the form of that attached hereto as Exhibit A, for the conveyance of the below-described property in St. Louis County, Minnesota (to One Roof for One ($1.00) Dollar payable to Fund 860, conditioned upon the development thereon of a housing unit and its conveyance to a person or family having income at or below 80% of the Area Median:
Lot 11 Block 6 HOMEWOOD ADDITION TO DULUTH
Lot 12 Block 6 HOMEWOOD ADDITION TO DULUTH
(the “Property”).
FURTHER RESOLVED, DEDA finds that the sale of the Property to One Roof is in the best interest of the City of Duluth and its people and that the transaction furthers the general plan for economic development in the area.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize the conveyance of certain real property on 8th Avenue East to One Roof Community Housing for development of one housing unit. Per the Land Sale Agreement, One Roof Community Housing will provide one unit for inclusion in the Developer’s Community Land Trust program, which ensures the sale of affordable housing units to individuals or families that earn 80% or less of the area median income. These units included in this program remain affordable in perpetuity. Property will be conveyed to One Roof Community Housing at the cost of $1.00 and Developer to pay all state tax, recording, and any other closing fees.