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REQUEST FOR HRA ACTION <br />Date: 7-28-14 <br />Item No: 9a. <br />Staff Approval: Agenda Section: <br /> Action Item <br />Item Description: Authorize entering into a development agreement for 1840 Hamline <br />Requested Action <br />1 <br />2Authorize staff to enter into a development agreement for the construction of a home at 1840 <br />3Hamline. <br />4 <br /> Background <br />5 <br />6The RHRA Lot Replacement Program removes substandard, functionally obsolete <br />7housing on scattered sites throughout the City and replaces them with new, higher- <br />8valued, sustainable housing. The HRA bought 1840 Hamline on January 27, 2014, for <br />9$98,000. The home and garage were demolished in the spring of 2014. The appraisal <br />10for resale that was completed after the removal of the buildings put the value of the lot at <br />11$98,000; the Ramsey County assessor has valued the lot at $80,300. <br />st <br />12On July 21, Caldworks Construction submitted an application proposing to purchase the <br />13lot for $84,000 and to construct a 3+ bedrooms/2+ baths/2-car garage home with 1467 <br />14sq.ft. on the main level. The applicant estimates the construction costs will be $217,500. <br />15Caldworks Construction is a newly formed entity, however, the development agreement <br />16would have several protections in place to ensure construction is completed in a timely <br />17manner and in accordance with the Lot Replacement Program guidelines. The applicant <br />18would like to start construction this fall. <br />19Staff has received 23 calls on the lot requesting asking price and further information. If <br />20the RHRA accepts this application, the applicant would complete a full application, from <br />21which a development agreement would be developed and a public hearing would be <br />22scheduled to occur at the next (August 2014) HRA meeting. <br />23 <br /> Staff Recommendation <br />24 <br />25If the RHRA wants to work with the applicant, give staff authorization to bring forward a <br />26development agreement and to publish a notice for a public hearing for the sale of 1840 <br />27Hamline Avenue. <br />28 <br /> Suggested RHRA action <br />29 <br />30The RHRA gives staff authorization to bring forward a development agreement and to <br />31publish a notice for a public hearing for the sale of 1840 Hamline Avenue. <br />32 <br />33 <br /> Prepared by: Jeanne Kelsey: jeanne.kelsey@ci.roseville.mn.us; 651-792-7086 <br />34 <br /> Attachment: A: Caldworks Construction <br />35 <br />1840 Hamline Lot Replace Application (07-28-14) - Page 1 of 1 <br /> <br />