BY COUNCILOR STAUBER:
RESOLVED, that the proper city officials are hereby authorized to enter into a second amendment substantially in the form of the copy on file in the office of the city clerk as Public Document No. ____________ to the HOME program housing development projects purchase/rehabilitation/resale agreement with Neighborhood Housing Services (NHS) in order to extend the term of the agreement to August 31, 2007.
STATEMENT OF PURPOSE: NHS is developing the east side of Lake Avenue at East Fourth Street into eight newly constructed, for sale condominium units and eight rehabilitated, for sale condominium units. The project, called the Lake Superior View condominium project will, therefore, consist of a total of 16 units.
On April 1, 2005, the city of Duluth entered into a HOME program agreement with NHS for the rehabilitation of a duplex related to the condominium project. NHS has completed the rehabilitation work on the two units and one unit has been sold to an income qualifying home buyer. NHS is requesting additional time to sell the second unit. An extension to August 31, 2007, is recommended.