BY COUNCILOR ECKENBERG:01-010-O
ORDINANCE NO. __________
AN ORDINANCE AUTHORIZING SALE OF CERTAIN PROPERTY IN CENTRAL HILLSIDE TO THE NORTHERN COMMUNITIES LAND TRUST.
The city of Duluth does ordain:
Section 1. That the proper city officials are hereby authorized to enter into a development agreement, a copy of which is on file in the office of the city clerk as Public Document No. ____________, with the Northern Communities Land Trust pursuant to which the city will convey by quit claim deed the below-described property in St. Louis County, Minnesota, to the Trust who will develop the property for low and moderate income housing and to execute all documents necessary with regard to said conveyance: Lots 7 and 8, West 5th Street, DULUTH PROPER First Division.
Section 2. This ordinance shall take effect 30 days from and after its
passage and publication.
The property consists of two lots in the Central Hillside which are excess of the City's needs. The City would convey these properties to the Trust at no cost. The Trust would then construct a duplex on each of the lots, consisting of one three bedroom unit suitable for home ownership and a one bedroom unit suitable for rental.
Under the City's agreement with the Trust, the housing would have to remain "affordable" for at least 25 years.