DISCLAIMER

 

06-0802R


RESOLUTION AUTHORIZING AMENDMENTS TO THE 2005 COMMUNITY DEVELOPMENT PROGRAM NORTHERN COMMUNITIES LAND TRUST: DECONSTRUCTION-RECONSTRUCTION PROJECT AGREEMENT AND TO THE 2005 NORTHERN CITY HOMES PHASE IV AGREEMENT EXTENDING THE TERMS OF THESE AGREEMENTS.

BY COUNCILOR GILBERT:

     RESOLVED, that the proper city officials are hereby authorized to enter into amendments, substantially in the form of that on file in the office of the city clerk as Public Document No. __________ to the 2005 Community Development Program Northern Communities Land Trust: Deconstruction-Reconstruction Project Agreement and as Public Document No. __________ to the 2005 Northern Communities Land Trust City Homes Phase IV Agreement which extends the terms of the agreements to June 30, 2007 with no change in compensation under the agreements.


STATEMENT OF PURPOSE:   The purpose of this resolution is to extend these contract terms until June 30, 2007 in order to allow sufficient time to market the completed units. Under the 2005 Community Development Program Northern Communities Land Trust (NCLT): Deconstruction-Reconstruction Project Agreement, NCLT deconstructed two condemned, blighted properties, built two new housing units on those sites and constructed an additional two housing units on vacant sites, all in Lincoln Park. Three of the four housing units have sold. Under the 2005 Northern Communities Land Trust City Homes Phase IV Agreement, NCLT has built three housing units in Lincoln Park and will complete the construction of three more housing units in the Hawks Ridge Development by December 31, 2006. One of these six housing units has sold. Due to the current soft market conditions and the timing of the completions, NCLT has requested additional time to market and sell the remaining six housing units under both contracts. The addresses are:    

                 2605 West Second Street

                 2610 West Second Street

                 2614 West Second Street

                 2905 Bald Eagle Trail

                 2824 Snowy Owl Circle

                 2826 Snowy Owl Circle