2015.01.20 EDA Work Session PacketAGENDA
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
• WORK SESSION •
TUESDAY, JANUARY 20, 2015
IMMEDIATELY FOLLOWING THE 7:00 P.M. CITY COUNCIL MEETING
CRYSTAL CITY HALL
CONFERENCE ROOM A
Call to order
2. Roll call
3. Review draft 2014 Annual Report and 2015 Work Program *
4. Discuss replatting 4724 Lakeland to create two outlots to sell to adjacent
homeowners *
5. Status update on 4553 Yates *
6. Other business
7. Adjournment
* Materials attached
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
2014 Annual Report
The Economic Development Authority of the City of Crystal ("the EDA") formulates and
implements the city's redevelopment and housing improvement programs. It operates
under the provisions of Minnesota Statutes Chapter 469, and has powers similar to a
Housing & Redevelopment Authority.
For residential property, EDA activities generally involve using voluntary acquisitions to
replace blighted, structurally substandard or functionally obsolete houses; or providing
assistance to homeowners to help them make improvements to their houses. Multi-
family and commercial/industrial redevelopment are typically accomplished in larger,
more complex projects made possible by a combination of different funding sources;
they also sometimes require participation by multiple government agencies, non-profit
organizations and businesses.
As in previous years, the EDA recommended and the Council approved an EDA levy to
provide funding for redevelopment activities.
The following are specific descriptions of 2014 EDA activities:
Single Family Residential - Scattered Site Redevelopment
6 lots were sold in 2013. As of December 31, 2014 three houses have been
completed and sold, two are under construction and one is scheduled to start
construction in 2015.
a) Lots Sold in 2014:
1. 4326 Zane (acquired 2002) — house construction to occur in 2015
2. 5824 Regent (acquired 2008) — house under construction, for sale
3. 4349 Xenia (acquired 2012) — house under construction, has buyer
4. 4720 Douglas Dr (acquired 2012) — house completed & sold
5. 5335 Corvallis (acquired 2012) — house completed & sold
6. 5332 50th (acquired 2012) — house completed & sold
b) EDA Lots for Sale as of December 31 2014:
1. 5626 Vera Cruz (acquired 2007)
2. 3533 Lee (acquired 2008)
3. 4331 Vera Cruz (acquired 2008) — sale pending to MT Builders
4. 5700 Regent (acquired 2009)
PAGE 1 OF 4
2.
3
CI
Dral"i, for EDA ReviewI
5. 5255 Edgewood (acquired 2009)
6. 5715 Regent (acquired 2009)
7. 4901 Vera Cruz (acquired 2009)
8. 660162 nd (acquired 2012)
9. 5924 Elmhurst (acquired 2012)
Lot sales from 1998-2014 are summarized in the attached Exhibits A (map) and
B (chart), with detailed information about 2010-2014 lot sales in Exhibit C.
Single Family Residential - Scattered Site Acquisition and Rehabilitation
The EDA does not acquire and renovate houses because city -managed rehab
projects are not a very cost-effective way of advancing the city's housing goals
when compared with other approaches. Instead, the city utilizes a combination of
regulatory tools, rehab incentives, and other agencies' programs to encourage
home renovations by homeowners, investors, contractors and others in the
private sector.
Single Family Residential - Home Improvement Incentive Rebates
In 1998, Crystal and four other communities partnered with the Greater
Metropolitan Housing Corporation (GMHC) to provide an incentive rebate for
improvements to owner occupied homes. Households up to 120% of Twin Cities
metropolitan area median income are eligible. Approximately 75% of program
expenses are funded by available increment from expiring TIF districts and the
other 25% are funded by the EDA levy.
99 Crystal homeowners used the rebate program in 2014. The expenditure
history and approximate 2014 locations are shown in Exhibit D.
The total and average 2014 rebates are as follows:
TOTAL 2014
REBATES +
$136,392
AVERAGE 2014
REBATE
$1,378
TOTAL PAID BY
HOMEOWNERS
$827,110
AVERAGE PAID BY
HOMEOWNER
$8,355
Single Family Residential — Community Fix -Up Fund
TOTAL COST OF ALL
2014 PROJECTS
$963,502
AVERAGE COST PER
2014 PROJECT
$9,733
The EDA and the Minnesota Housing Finance Agency provide an interest rate
write-down for Community Fix -Up Fund home improvement loans. In 2014 there
PAGE 2OF4
Draft for EDA Review 1/20/2015
were 17 Crystal projects receiving a total of $48,170 from state funds and
$37,535 in available increment from Crystal's expiring TIF districts.
5. Single Family Residential — Deferred Home Improvement Loans
Since 1982, Crystal has used part of its federal Community Development Block
Grant (CDBG) allocation to provide interest-free home improvement loans to low
income homeowners (up to 50% of regional median income). Repayment is
deferred for 15 years and then forgiven if the recipient continues to own and
occupy the property throughout that time. Homeowners from 50%-80% of
regional median income are also eligible but those loans are interest-bearing.
Hennepin County administers this program for Crystal and eight other cities
(Brooklyn Center, Brooklyn Park, Edina, Hopkins, Maple Grove, New Hope,
Richfield and St. Louis Park).
Crystal's 2014 CDBG allocation was $107,956 and 100% was allocated to this
program. In addition to the allocation, the program also recaptures previously
loaned funds in cases where the homeowner sells or moves out within the 15
year term. This means that available funding fluctuates within and between each
year. Demand for the program also fluctuates, meaning that eligible projects
must sometimes be put on a waiting list until the next round of funding becomes
available.
The twelve months ending September 30, 2014 were unusually active. $106,000
was spent and $199,000 was committed for projects. Eight projects were started,
two projects were completed and one property is on the waiting list. Of the eight
other Hennepin County cities with similar programs, only Richfield had more
activity than Crystal.
6. Multi -Family Residential Redevelopment
The Cavanagh (5401 51St Avenue North). In October 2012 the EDA acquired the
8.3 acre Cavanagh property from Robbinsdale Area Schools which had
determined that it no longer needed the property. In December 2012 the EDA
transferred the east 4 acres to the city for park purposes. In April 2013 the EDA
completed the demolition of the school with funding from Metropolitan Council for
asbestos abatement and Hennepin County for demolition. In June 2014 the
EDA sold the west 4.3 acres to a private developer (Dominium) for construction
of affordable senior housing ("The Cavanagh"). It will be a four story, 130 unit,
age -restricted rental building addressed as 5401 51St Avenue North. Units will
range from 1 BR -1 BA to 2BR-2BA and all units will be affordable to households
at or below 60% of Twin Cities metropolitan area median income. Construction
of The Cavanagh began in summer 2014 and completion is anticipated in fall
2015. The approved plan for The Cavanagh is attached as Exhibit E.
PAGE 3OF4
Review
Draft for EDA
7. Commercial and Industrial Redevelopment
No EDA -involved development activity in 2014.
8. Land Banking for Future Redevelopment
In addition to the more immediate redevelopment activities discussed in Section
1, the EDA also takes advantage of opportunities to acquire and hold property
for future development. These parcels will be sold depending on market
conditions, site characteristics and the status of adjacent properties. As of
December 31, 2014 the EDA is holding the following vacant parcels for future
development:
1. 3240 Hampshire (acquired 2000)
2. 3556 Major (acquired 2002 - private donation)
3. 3409 June (acquired 2003 - tax forfeit)
4. 3122 Douglas Dr (acquired 2003)
5. 5901 56th (acquired 2008)
6. 482456 th (acquired 2009)
7. 4741 Welcome (acquired 2009)
8. 3401, 3415 and 3443 Douglas Dr (acquired 2009)
9. 541735 th (acquired 2010)
10. 5565 Vera Cruz (acquired 2011 - tax forfeit)
11. 3354 Douglas Dr and 6213 34th (acquired 2011)
12. 3443 Edgewood (acquired 2012 - tax forfeit)
A map of city and EDA -owned parcels as of December 31, 2014 is attached as
Exhibit F.
PAGE 4OF4
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FTM
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
2015 Work Program
1. Deferred Home Improvement Loans (administered by Hennepin County)
$108,000 planned expenditures from Community Development Block Grant)
This ongoing program is administered by -Hennepin County and offers no -interest
loans to Crystal homeowners below 50% of Twin Cities area median income
("AMI"). The anticipated funding level would typically allow four projects in
Crystal per year, although this fluctuates from year to year depending on a
number of factors. The loans are fully forgiven after 15 years provided the
homeowner continues to own and occupy the property. If the homeowner sells or
moves, then the loan becomes due and payable in full, and the recaptured funds
go back into the program to assist other homeowners.
Also available are deferred loans with a modest interest charge for homeowners
between 50% and 80% AMI, but these are funded by other sources.
The county's administrative costs are embedded within overall CDBG funding.
2. Home Improvement Incentive Rebates (administered by GMHC)
$232,000 planned expenditures
• $209,800 from TIF Housing Districts
• $22,200 from EDA Fund
This ongoing program offers a rebate for homeowners who complete home
improvement projects. The program is administered by the non-profit Greater
Metropolitan Housing Corporation ("GMHC") at its Housing Resource Center
located at 2148 44th Avenue North in Minneapolis.
Homeowners with household income less than 50% of Twin Cities area median
income ("AMI") qualify for a 20% rebate, 50%-80% AMI qualify for a 15% rebate
and 80%-120% AMI qualify for a 10% rebate. Households over 120% AMI are
not eligible. The application must be made before beginning the project and the
project must have a total cost of at least $2,000. No property may receive
rebates totaling more than $10,000 in one year.
Administrative fees paid to GMHC are 11 % of the rebates paid and the admin
fees are included in the planned expenditures figure above. Please note that
actual expenditures may be less than planned depending on program demand.
Note: Twin Cities area median income ("AMI ") was $82,900 in 2014.
PAGE 1 OF 2
Draft for EDA Review 1/20/2015
3. Community Fix -Up Fund Interest Rate Buy -Down (administered by GMHC)
$25,000 planned expenditures
• $12,500 from Minnesota Housing Finance Agency
• $12,500 from TIF Housing Districts
This program writes down the interest rate for Crystal homeowners using
Community Fix -Up Fund loans from GMHC's Housing Resource Center.
Minimum loan is $2,000; maximum is $35,000. Maximum loan -to -value ratio is
110% of the after -rehab value. Maximum loan term is 10 years (for loans up to
$10,000) or 20 years (for loans over $10,000). The interest rate, normally 5.75%,
is discounted to 3%. Maximum household income is 80% of Twin Cities area
median income ("AMI") for state funds and 115% AMI for the EDA's TIF funds.
There are no administrative costs for the EDA.
4. Scattered Site Acquisition/Demolition and Lot Sales
$110,000 planned expenditures from EDA Fund
$140,000 planned revenues to EDA Fund
This would be a continuation of the city's longstanding acquisition, demolition and
lot sale program. The adopted budgets are based on two properties being
acquired/demolished and three lots being sold for new house construction,
although actual property purchases and sales would depend on market
conditions and each transaction requires specific EDA board approval. As
opportunities arise, additional property acquisitions may be authorized by the
EDA using the fund balance. The initial 2015 lot notice is attached.
S. Other Redevelopment
The Cavanagh (5401 51St Avenue North) will be a four story, 130 unit, age -
restricted rental building addressed as 5401 51St Avenue North. Unit sizes will
range from 1 BR -1 BA to 2BR-2BA and all units will be affordable to households at
or below 60% of Twin Cities area median income. The EDA sold the 4.3 acre site
to Dominium in June 2014. Construction is underway and completion is
anticipated by fall 2015.
6. Redevelopment Fund Balance
The EDA board may authorize expenditure of part of its fund balances during the
year to respond to unforeseen opportunities. The amount available at any
particular time cannot be predicted because the fund balance varies throughout
the year depending on actual expenditures and revenue from unanticipated
property sales.
Note: Twin Cities area median income ("AMI') was $82,900 in 2014.
PAGE 2OF2
Draft for EDA Review 1/20/2015
Economic Development Authority Staff contact: John Sutter
of the City of Crystal tel: 763-531-1142
4141 Douglas Dr N ctirsrn► fax: 763-531-1188
Crystal MN 55422 john.sutter@crystalmn.gov
2015 NOTICE OF LOT AVAILABILITY - FEBRUARY 18, 2015
The Economic Development Authority of the City of Crystal is seeking proposals from builders to purchase lots for
construction of new single family houses. For more information, please see the Request for Proposal packets which may
be found by clicking on "EDA Lots for Sale" under "What's Happening" at www.crystalmn.clov.
PROPERTY DIMENSIONS (approx.) LOT NOTES
ADDRESS width x death area (sa. ft.) PRICE (see D. 2)
4901 Vera Cruz Ave N!, Crystal MN 55429
irregular
13,469
$50,000
4331 Vera Gruz Ave ni Crystal MN 55422
46 x 209
$445
$50,000 SALE PENDING
5255 Edgewood Ave°N, Crystal MN 55428
60 x 133
7,989
$50,000
5,924 Elmhurst Ave N,, Crystal MN 55428
75 x 160
12,000
$50,000
6601 i2nd Ave N, Cry stal MN 55429
62 x 169
10,498
$50,000
5626 Vera Cruz Ave N, Crystal MN 55429
66 x 135
8,910
$50,000 2
5700 Regent Ave, N, Crystal MN 55429
75 x 135
10,125.
$50,000 2
5715 Regent Ave N, Crystal MN 55429
75 x 135
10,125
$50,000
2
6526 45th Ave N, Crystal MN 55428
65 x 155'
101082
$60,000
NEW
PAGE 1 OF 2
Draft for EDA Review
NOTES SPECIFIC TO PARTICULAR LOTS:
1 The existing house may still be present but demolition is in the works.
This lot is mapped by the Metropolitan Airports Commission (MAC) as being within the Crystal Airport's 60 DNL
noise contour forecast for the year 2025. This is the lowest -level noise contour mapped by MAC in its plan for this
2 airport. Builders are encouraged but not required to construct the house in accordance with the Builders Guide
available from Metropolitan Council. This lot is not located in a Runway Protection Zone or Safety Zone for the
Crystal Airport.
This lot is adjacent to another EDA lot but both lots shall remain separate lots for construction of a single family
3 house on each lot. The EDA will not consider proposals to combine the lots or build a duplex. These adjacent lots
do not need to be purchased (or optioned) by the same builder.
4 Due to narrow lot width and the presence of an alley, the garage must be accessed from the alley not the street.
GENERAL NOTES:
The EDA considers proposals on a "first-come, first-served" basis. The EDA board retains absolute discretion to decide
whether to accept any particular proposal or waive any of its guidelines.
Proposals must be submitted by state -licensed builders who have built at least three houses in Minnesota in the last five
years, or have equivalent experience acceptable to the EDA. The house may be built speculatively or for a specific buyer.
If you would be the house buyer, then your builder must submit the proposal; and if the proposal is accepted, then the
EDA would sell the lot to your builder.
The new house must be an owner -occupied, single family house. It must have at least three bedrooms, two bathrooms,
and a two -car garage (attached or detached, depending on the site). On a case-by-case basis, the EDA may also
consider the sale of a lot to provide a new location for an existing house currently located in Crystal. The moved house
would have to meet the general requirements described above, be brought up to current codes, and have a final value
and long-term viability comparable to a new house.
Builders may purchase a 6 -month option on a lot for $500, renewable for an additional 6 months for an additional $500.
The option provides the builder with exclusive rights to purchase the lot and build a house subject to the normal EDA
requirements and guidelines. As a condition of the option, the builder must list the lot with a to -be -built house on the MLS
for the duration of the option. The number of options is limited: The EDA will not approve additional options for a builder if
they already have more than 10% of the EDA's lots under option, and no more than 50% of the EDA's lots may be under
option at any time.
Economic Development Authority oStaff contact: John Sutter
of the City of Crystal tel: 763-531-1142
4141 Douglas Dr N fax: 763-531-1188
Crystal MN 55422 john.sutter@crystalmn.gov
PAGE 2 OF 2
C
AL
EDA STAFF REPORT
Discuss Replatting 4724 Lakeland
FROM: John Sutter, City Planner/Assistant Community Development Director
DATE: January 15, 2015
TO: Anne Norris, Executive Director (for January 20 EDA work session)
SUBJECT: Discuss replatting 4724 Lakeland to create two outlots to sell to adjacent
homeowners.
The subject property is vacant land owned by Hennepin County. In September 2014 the EDA
authorized the purchase of this property for a price not to exceed $25,000. Staff negotiated a
$20,000 price with the county and we expect to close in late January. For background please
see the attached 2012 aerial photo and September staff report text.
On the back of the property there are some garden encroachments, a misaligned fence and a
shed under a power line. These improvements were built by the prior owner of 4724 Lakeland
but have since been taken over to some degree by the adjacent neighbors at 4725 and 4733
Regent. The presence of these improvements, and the visual encroachment they represent,
is one of the factors that may have made it difficult for the county to sell the lot. In order to
clean up this part of the lot, the EDA needs to remove these improvements and install a new
fence along the actual lot line. This was the primary basis for the county's willingness to
reduce the price for the EDA. Please see the attached Scenario A and property survey.
As an alternative to clearing out this area, staff has explored the possibility of replatting the lot
to create two outlots to be sold to the respective neighboring property owner on Regent.
Please see the attached Scenario B and sketch of the proposed plat. The price that the
neighbors would be required to pay for the outlots would cover the additional costs related to
replatting the property and an estimated $3,000 reduction in the lot sale price for 4724
Lakeland when it is sold for new home construction.
In the end, the net revenue to the EDA for Scenarios A and B is roughly the same. Both of the
neighbors on Regent are interested in purchasing the respective outlot abutting their property
should the EDA decide to proceed with Scenario B.
The EDA is asked to discuss these scenarios. If there is no objection to proceeding with
Scenario B, then at the February 17 meeting staff would seek EDA authorization to prepare
the plat and hold a public hearing to consider selling the two outlots to the adjacent owners. It
is anticipated that the plat would go to the Planning Commission on April 13, City Council on
April 21 and be recorded by the end of April. After the plat is recorded, the outlots would be
sold to the neighbors and we would add 4724 Lakeland to the lot list.
PAGE 1 OF 1
2012 Aerial Photo
Background Info
for 1/20/2015
C
EDA STAFF REPORT Work Session
AL Acquisition of 4724 Lakeland
FROM: John Sutter, City Planner/Assistant Community Development Director
DEPARTMENT HEAD REVIEW: Patrick Peters, Community Development Director
DATE: September 11, 2014
TO: Anne Norris, Executive Director (for September 16 EDA meeting)
SUBJECT: Consider a resolution authorizing the purchase of vacant Hennepin County
property at 4724 Lakeland Ave N
A
L_J
BACKGROUND
In 2009-2010, Hennepin County acquired and demolished 4724 Lakeland Avenue
North for the additional right-of-way needed for the reconstruction of Bottineau Blvd.
Upon project completion the county determined that after delineating the new road
easement the vacant remainder could be sold. In 2012-2013 the county estimated the
lot's value at $25,000430,000 and tried to sell the lot through its auction process with
no success. In late 2013 the county began exploring the possibility of moving a house
from one of its other road acquisitions onto this lot, but abandoned that idea in 2014.
As this time the county does not know what their next step will be with this lot and has
invited the city to make an offer.
The following Exhibits are attached:
A. 2012 aerial photo
B. 2012 Henn Co property disposition map
C. 2014 Henn Co survey for house move -in
D. Mark-up of 2014 survey (house move -in deleted)
E. Proposed resolution
STAFF COMMENTS
The subject property has an average depth of approximately 150 feet, a width of
approximately 86 feet and contains 13,215 sq. ft. (0.3 acre) after deducting
approximately 4,000 sq. ft. for the new road easement. The resulting lot meets zoning
requirements for width, depth and area.
PAGE 1 OF 2
Staff opinion is that the EDA is much better positioned than the county to get this
publicly -owned lot sold, built on, and back on the tax rolls sooner rather than later. The
EDA has a track record of selling lots for new home construction whereas the county
does not.
The estimated budget presumes a purchase price of $25,000 and a lot sale price of
$50,000 with estimated net revenue of $9,750:
ESTIMATED EXPENDITURES
$25,000
Purchase of property from Hennepin County
$ 5,000
Install new sewer service
$ 3,000
tree & stump removal, other property prep work
$ 3,000
legal, title & closing costs
$ 700
other administrative costs
$ 500
holding costs
$ 3,050
contingency/unforeseen (25% of items above except acquisition)
$40,250
TOTAL EXPENDITURES
ESTIMATED REVENUE
$50,000
Lot Sale
$ 9,750 ESTIMATED NET REVENUE
C. REQUESTED ACTION
If the EDA desires to acquire the property, then it should adopt the attached resolution
approving the purchase of the subject property and authorizing the execution of
documents necessary to complete the purchase. In its motion the EDA should indicate
a "not to exceed" amount to purchase the property; staff recommends $25,000.
If the EDA does not desire to acquire the property, then no action is required.
PAGE 2 OF 2
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Existing Conditions Survey For:
CITY OF CRYSTAL
Property located in Section 9, Township 118, Range 21,
Hennepin County, Minnesota.
Property Address: 4724 Lakeland Ave. N, Crystal, MN 55429
The Gregory Group
d.b.a.
LOT SURVEYS COMPANY, INC.
Established in 1962
LAND SURVEYORS
REGISTERED UNDER THE LAWS OF STATE OF MINNESOTA
7601 73rd Avenue North (763)560-3093
Minneapolis, Minnesota 55428 Fax No. 560.3522
�xrul'Ijxxrs C�rr1tftraIP
INVOICE NO. 83415
F.B.NO. 1063-50
SCALE: 1" = 20'
Benchmark: Top Nut Hydrant at the Northeast Quadrant
of Lakeland Avenue & 48th Avenue
Elevation 876.71 feet NGVD 1929
Icorner of fence - t �w %^ m�
0.7 feet north of line / \w\w Power / yy
--�-►v ��x�,`��. \w Pole ,�/ <`r >
.&Tw--w-w=w-w-w-W/-_ w -w --w- - -W-W-" /
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corner of fence x875.3
1 0.4 feet south of lme Corner of fence
\ 5outh of hne 1. l feet
LEGAL DESCRIPTION:
That part of Lots 19 and 20, "Schaefer's Lake Side Grove", described as follows: Beginning
at the point of intersection of the South line of Lot 19 with the Easterly line of the right of
way of U.S. Highway No. 52; thence East along the South line of Lots 19 and 20 a distance
of 200 feet; thence Northwesterly parallel with the Easterly line of said U.S. Highway No. 52
a distance of 95.0 feet; thence West parallel with the South line of Lots 19 and 20 to the
Easterly line of right of way of said U.S. Highway No. 52; thence Southeasterly along said
Easterly line of said right of way 95.0 feet to the point of beginning.
Reserving to the County of Hennepin a permanent easement for highway purposes over all
that part of the above described tract which lies westerly and southwesterly of the following
described line:
875.2
Thls ,bon south of
l0 6ne e
X 674.1 Wood Border
874.2
SSS,
X674.3
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675.
874.6
674.5
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Wood Rack 874.7 rt'r yZ,
• Denotes Found Iron Monument
O Denotes Iron Monument
Shed
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59UTH LINE OF LOTS 19 AND 20
874.3
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874.7 S 8904232"
74.4
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874.6
674.5
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Wood Rack 874.7 rt'r yZ,
• Denotes Found Iron Monument
O Denotes Iron Monument
Shed
raw
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59UTH LINE OF LOTS 19 AND 20
874.3
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E 141.32
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Commencing at the northeast corner of the above described tract; thence run westerly along the north
line of said tract on an assumed bearing of North 89 degrees 42 minutes 32 seconds West for 161.07
feet to a point on a non-tangential curve, concave to the northeast having a radius of 569.00 feet and a
central angle of 10 degrees 18 minutes 15 seconds, said point being the actual point of beginning of the
line being described; thence southeasterly along the are of said curve a distance of 102.33 feet, said arc
subtended by a chord bearing South 34 degrees 12 minutes 19 seconds East; to a point on a compound
curve, concave to the northeast having a radius 64.00 feet and a central angle of 46 degrees 43 minutes
03 seconds; thence southeasterly along the are of said curve a distance of 52.18 feet, said arc subtended
by a chord bearing South 62 degrees 42 minutes 58 seconds East and said line there terminating.
Basis for
bearings is
assumed
Shed <` ^�
x -
74.7
Wood
Fence
Overhead Wires
I certify that this plan, specification, or report was prepared by me or
under my direct supervision and that I am a duly Licensed land Surveyor
under the laws of the State of Minnesota
Surveyed this 16th day of December 2014.
Signed
Gregory R.tAfa h, Minn. Reg. No. 24992
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Existing Conditions Survey For:
CITY OF CRYSTAL
Property located in Section 9, Township 118, Range 21,
Hennepin County, Minnesota.
Property Address: 4724 Lakeland Ave. N, Crystal, MN 55429
The Gregory Group
d.b.a.
LOT SURVEYS COMPANY, INC.
Established in 1962
LAND SURVEYORS
REGISTERED UNDER THE LAWS OF STATE OF MINNESOTA
760173rd Avenue North (763) 560-3093
Minneapolis, Minnesota 55428 Fax No. 5663522
mID No. 09-118-21-42-0070 \ /
/ ��Pawer Shed
\ \ J Po%
,' \ �w--w-�Fh—w—w w
::;::.:.:.•.:. \rte.. __ 875.7
77.
\ .4 feet south of line
' :.V'' 5.�
� l 2 0 x
00
70
(Note: Right of Way portion of
description not currently part of :s• Y'
Comi»itrnent's description.
Legal desoription and easements, if any, per
Title Commitment from Commercial Partners
Title, LLC, File No. 36320, dated October 18,
2012.
LEGAL Al✓SCRUMON:
That part of Lots 19 and 20, "Schaefer's Lake Side Grove", described as follows: Beginning
at the point of intersection of the South line of Lot 19 with the Easterly line of the right of
wax of US. Highway No. 52; thence East along the South line of Lots 19 and 20 a distance
of 200 feet; thence Northwesterly parallel with the Easterly line of said U.S. Highway No. 52
a distance of 95.0 feet; thence West parallel with the South line of Lots 19 and 20 to the
Easterjy line of right of way of said U.S. Highway No. 52; thence Southeasterly along said
Easterly line of said right of way 95.0 feet to the point of beginning.
Reserving to the County of -Hennepin a permanent easement for highway purposes over all
that part of the above described tract which lies westerly and southwesterly of the following
described line:
Benchmark: Top Nut Hydrant at the Northeast Quadrant
of Lakeland Avenue & 48th Avenue
Elevation 876.71 feet NGVD 1929
Commencing at the northeast corner of the above described tract; thence run westerly along the north
line of said tract on an assumed bearing of North 89. degrees 42 minutes 32 seconds West for 161.07
feet to a point on a non-tangential curve; concave_to the. ncgrtheast having a radius of 569.00 feet and a
central angle of 10 degrees 18 minutes 15 seconds; said point being the aptual point of beginning of the
line being described; thence southeasterly along the are of said curve a distance of 102.33 feet, said are
subtended by a chord bearing South 34 ilegrees 12 minutes 19 seconds East; to a point on a compound
curve, concave to the northeast having a` -radius 64.00 feet and a central angle of 46 degrees 43 minutes
03 seconds; thence southeasterly along the are of said curve a distance of 52,18 feet, said are subtended
by a chord bearing South 62 degrees 42`,minutes 58 seconds East and said line there terminating.
Drawn By
Rev
INVOICE NO. 83415.
F.B.NO. 1063-50
SCALE: V = 20'
0 denotes Found Iron Monument
d Denotes Iron Monument
v,
y (tV00 ff
PP O MM NSW
DoT U�e5:
I Certify that this plan, specification, or r l w+
under my direct supervision and that I am
under the laws of the State of Minnesota
Surveyed this 16th day of December 2014.
Gregory
Minn. Reg. No. 24992
slsg-19-20-fb106350inv83415.dwg
EDA STAFF REPORT
Status of 4553 Yates
FROM: John Sutter, City Planner/Assistant Community Development Director
DATE: January 15, 2015
TO: Anne Norris, Executive Director (for January 20 EDA work session)
SUBJECT: Status update on 4553 Yates
The EDA authorized the sale of this lot to Berger Built Construction in May 2013 for $40,000.
Berger closed on the lot in December 2013. Berger has been unable to secure financing to
build the proposed spec home (see attachments) and has been waiting for a committed
homebuyer before beginning construction. Berger is in default of the Purchase and
Redevelopment Agreement because he has not yet started, let alone completed, the house as
required by the agreement. Normally the EDA provides one year after the lot sale for the
house to be completed, and obviously that time has passed.
The Purchase and Redevelopment Agreement between the EDA and Berger includes a
standard reverter clause which gives the EDA the right to retake title to the, property if the
builder fails to perform. If the EDA were to exercise its reverter, Berger would be paid the
$40,000 less EDA costs.
It is important to note that the EDA gave significant concessions when it authorized the sale of
this lot to Berger, including lowering the lot price from $45,000 to $40,000 and agreeing to
close the existing curb cut on 46th and install a new curb cut on Yates. Since 2013, demand
for new homes in the Welcome Park neighborhood seems to have strengthened. Staff opinion
is that, if the EDA were to retake title to this lot, it should be priced at $45,000 with no
concessions.
The EDA is asked to discuss how it wants to proceed, specifically as it pertains to exercising
the reverter clause and retaking title in accordance with the Purchase and Redevelopment
Agreement.
PAGE 1 OF 1
2012 Aerial Photo
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