Title
RESOLUTION AUTHORIZING ACQUISITION OF CERTAIN REAL PROPERTY FROM THE CITY OF DULUTH RELATED TO THE REBUILD DULUTH PROGRAM
Body
RESOLVED, by the Duluth Economic Development Authority ("DEDA"), that the proper DEDA officials are hereby authorized to acquire by quitclaim deed the below-described properties from the City of Duluth, Minnesota (“City”) as part of the Rebuild Duluth Program at no cost to DEDA:
Lots one (1) thru six (6), Block twelve (12), Carlton Place Addition to Duluth
Statement of Purpose
STATEMENT OF PURPOSE: This resolution authorizes the acquisition of certain property from the City of Duluth in the as part of the Rebuild Duluth Program. The property is located at the intersection of S 71st Avenue W and Raleigh Street in the Fairmont neighborhood. The property proposed for acquisition is depicted in the map attached hereto as Exhibit A.
This property was included in the Rebuild Duluth Program with the purpose of conveying publicly-owned, development lots for construction of new homes. DEDA will be administering the conveyance of said lots to the selected developer. The proposed project consists of construction of six townhomes with an investment of approximately $1,337,731 in the community. The proposed project was granted an administrative extension to close the summer of 2022, citing rising construction costs as a hindrance to closing on the property and beginning construction in 2021. The developer has secured funding and is looking to close on the property and commence construction in the fall of 2022.