BY COUNCILOR STAUBER:
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 2006 community development block grant Northern Communities Land Trust deconstruction-reconstruction project agreement and as Public Document No. ______________ to the 2006 Northern Communities Land Trust city homes Phase V agreement, which extends the terms of the agreements to June 30, 2008, with no change in compensation under the agreements.
STATEMENT OF PURPOSE: The purpose of this resolution is to extend the terms of these contracts until June 30, 2008.
This extension will allow NCLT to market and sell four newly constructed homes, two in West Duluth and two located on Goat Hill under the 2006 HOME contract. Four of the total eight units have already been completed and sold.
Under the 2006 CDBG contract, NCLT deconstructed 12 condemned for demolition housing units with plans to construct three new single family housing units on the two sites. One of the three units is completed and has a purchase agreement for a February 2008 sale. The other two units will be completed and marketed this spring. These units were delayed due to unforeseen issues associated with the acquisition/deconstruction phases of the project, but are currently on track for a timely completion.
NCLT has had recent success with selling many new homes, as well as increased interest already this year. In addition to the four previously mentioned sales, two more housing units located on West Second Street in Lincoln Park recently sold. NCLT is confident that the recently revamped marketing strategies will continue to pay off in the new year.