2013.01.15 EDA Work Session PacketAGENDA
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
• WORK SESSION •
TUESDAY, JANUARY 15, 2013
IMMEDIATELY FOLLOWING THE REGULAR CITY COUNCIL MEETING
CRYSTAL CITY HALL
CONFERENCE ROOM A
Call to order
2. Roll call
Discuss 2012 Annual Report and 2013 Work Program "
Adjournment
Materials attached
01/09/13 GAEDA\Agendas\2013\01.15 ws.docx
MEMORANDUM
CfCITY�-RYSTAL
FROM: John Sutter, City PlannerlAssistant Community Development Director
DEPARTMENT HEAD REVIEW: Patrick Peters, Community Development Director
DATE: January 10, 2013
TO: Anne Norris, Executive Director (for January 15, 2013 EDA work session)
SUBJECT: Discuss draft 2012 Annual Report and 2013 Work Program
Enclosed please find the staff drafts of the EDA's 2012 Annual Report and 2013 Work
Program.
EDA review and discussion is requested at the January 15, 2013 work session. This will give
staff two weeks to include any additional information or make any adjustments/corrections
desired by the EDA before it considers the 2012 Annual Report and 2013 Work Program on
February 5, 2013.
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
2012 Annual Report
The Economic Development Authority of the City of Crystal ("the EDN') 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 ecc
replace blighted, structurally substandard or functionally obsolete houses;; c
assistance to homeowners to help them make improvements to their house
family and commercial/industrial redevelopment are typically accomplished
more complex projects made possible by a combination of different funding
they also sometimes require participation by multiple government agencies,
organizations and businesses. _
As in previous years, the EDA recommended and the Council approved an
provide funding for redevelopment activities.
The following are specific descriptions of 2012 EDA activities:
1. Single Family Residential - Scattered Site Redevelopment
37 lots weri
lots were s
and sold, tv
2013-2014.
a) Acgt
■ 4326 Lane
■ 4330 Zane
In 5527 Xenia
luisitions to
r:providing
s. Multi -
in larger,
sources;
non-profit
EDA levy to
3w houses at various times in 2012 and 14 of these
iber31, 2012, seven houses had been completed
completion and five are scheduled for construction in
- ovw
— SOLD
■ 5626 Vera Cruz
■
662046 th — SOLD
■ 5657 Adair
■ 3533 Lee
■ 4331 Vera Cruz
■ 4343 Xenia
■ 5824 Regent
■ 5700 Regent
PAGE 1 OF 5
■ 6529 50"
■ 4633 Douglas Dr
■ 5255 Edgewood
■ 5548 Yates
■ 5715 Regent
■ 4901 Vera Cruz
■ 4553 Yates
■ 5724 Perry — TO HABITAT FOR HUMANITY (NSP')
■ 7041 60t'— TO HABITAT FOR HUMANITY (NSP*)
■ 3528 Noble — TO HABITAT FOR HUMANITY (NSP*)
■ 5116 35th —TO HABITAT FOR HUMANITY (NSP*)
■ 4312 Brunswick—TO HABITAT FOR HUMANITY (NSP*)
■ 5417 35th (excess MnDOT property)
■ 3548 Welcome (excess MnDOT property)
■ 3556 Welcome (excess MnDOT property)
■ 5533 Xenia — SOLD
■ 4553 Hampshire — SOLD
■ 3548 Regent — SOLD
■ 3541 Regent —SOLD
■ 5918 Kentucky — SOLD
*NSP refers to 100% federally funded acquisition and
demolition of foreclosed, vacant and blighted houses.
b)Acquired in 20:
■ 7024 6OF_ OLD
■ 4349 Xenia
■ 4720 Douglas Dr
■ 660162nd
■ 5924 Elmhurst
■ 6516 Brentwood
Lot sales from 1998-2012 are summarized in the attached Exhibits A (chart) and
B (map). Detailed information about 2010-2012 lot sales is attached as Exhibit C.
2. 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.
PAGE 2OF5
3. 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. Funding for this program initially
came from the Minnesota Housing Finance Agency and the Metropolitan
Council. After these outside agencies' funds were exhausted, the EDA approved
the use of local funds including available increment from expiring TIF districts to
maintain the program.
134 Crystal homeowners used the rebate program in 2012. The approximate
locations are mapped in Exhibit D. The total and average 2012 rebates are as
follows:
TOTAL 2012 TOTAL FROM TOTAL COST OF ALL
REBATES + HOMEOWNERS = 2012 PROJECTS
$159,105 $926,024 $1,085,129
AVERAGE 2012 AVERAGE FROM AVERAGE COST OF
REBATE + HOMEOWNER = 2012 PROJECTS
$1,187 $6,911 $8,098
4. 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
households 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. Households from 50% to 80% of regional median income
are also eligible but those loans are interest-bearing. Hennepin County
administers this program for Crystal as it does for nine other cities.
By reducing and eventually eliminating the use of CDBG funds for scattered site
redevelopment, the city increased funding for deferred loans in 2000-2002 and
since then has maintained a relatively stable annual funding level of $80,000-
$90,000. In addition to the annual allocation, the program also recaptures
previously loaned funds in cases where the homeowner sells or moves out within
the 15 year term.
During the twelve months ending September 30, 2012, $68,000 was spent on
rehab projects and $77,000 was committed for additional projects. Three
projects were started, four projects were completed and two properties were on
the waiting list.
PAGE 3 OF 5
5. Single Family Residential — Tax Increment Districts for Housing Renewal
In 2012 the EDA provided $3,808 in down payment assistance for a buyer of a
vacant house using an FHA 203K purchase -rehab loan. The funds will be
recaptured if the homeowner moves out or sells the property within five years.
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 the property was no longer needed for school purposes. In
December 2012 the EDA approved the transfer of the east 4 acres to the city for
park purposes and the sale of the west 4.3 acres to a private developer
(Dominium) for construction of affordable senior housing ("The Cavanagh").
The EDA will complete the demolition of the school in spring 2013. Funding is
being provided by Metropolitan Council's Livable Communities Fund for asbestos
abatement and Hennepin County for demolition.
After the school is demolished, the EDA will sell the site to Dominium and they
will begin construction of The Cavanagh. It will be a three 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 metropolitan area median income. Construction
of The Cavanagh will begin in summer 2013 and be completed in 2014.
The approved site plan for The Cavanagh is attached as Exhibit E
7. Commercial and Industrial Redevelopment
New Medical Clinic (5700 Bottineau Boulevard). In May 2011 the EDA
purchased two acres of vacant, excess highway property from Hennepin County
and sold it to a private developer who had also purchased private property from
willing sellers. The developer used the resulting four acre site to build a $12
million, 40,000 sq. ft. medical office building. 90% of the building has been
leased as of December 31, 2012.
8. Site Investigations, Research and Planning
No development activity in 2012.
PAGE 4 OF 5
9. Land Bankina 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, 2012 the EDA is holding the following vacant parcels for
future development (listed approximately from north to south):
■ 4824 56"
■ 590156th
■ 5565 Vera Cruz
■ 4741 Welcome
■ 3556 Major
■ 3409 June
■ 3401, 3415 and 3443 Douglas Dr
■ 3354 Douglas Dr and 6213 34th
■ 3240 Hampshire
■ 3122 Douglas Dr
A map of city and EDA -owned property as of December 31, 2012 is attached as
Exhibit F.
PAGE 5 OF 5
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FUNDING BLDG STREET
BUILDER
LOTAREA
SO. FT.
LOT
PRICE
LOT
SALE DATE
HOUSE
STYLE
FINI HE
SQ.FT.
HOUSE
PRICE
HOUSE
SALE DATE
ASSESSOR
EMV
TIF (2150)
TIF (2150)
4813
4801
Idaho
Idaho
Novak -Fleck
Novak -Fleck
8,023
8,648
$55,000
$55,000
Apr -10
Apr -10
split
split
1,200
1,200
$177,310
$182,436
Jun -10
Jun -10
$155,000
$176,000
REDEVEL
5309
34th PI
Novak -Fleck
10,026
$60,000
Apr -10
split
2,000
$203,255
Jun -10
$188,000
REDEVEL
5101
351h
Novak -Fleck
11,707
$55,000
Apr -10
split
2,000
$186,000
Jun -10
$164,000
REDEVEL
5132
34th PI
Novak -Fleck
9,929
$55,000
Apr -10
split
2,000
$222,365
Jun -10
$206,000
REDEVEL
3549
Regent
Novak -Fleck
10,500
$50,000
May -10
split
1,300
$189,690
Aug -10
$176,000
REDEVEL
5918
Idaho
Novak -Fleck
8.004
$45.000
Jun -10
split
1,200
$178,065
Aug -10
$160,000
TIF (2150)
3440
Regent
Novak -Fleck
10.492
$55,000
Jun -10
split
1,300
$205,088
Sep -10
$190,000
REDEVEL
4612
Hampshire
Novak -Fleck
8,610
$60,000
Jul -10
split
2,000
$231,268
Sep -10
$195,000
TIF (2150)
4807
Idaho
Novak -Fleck
8,023
$55,000
Aug 10
split
1,300
$198,000
Feb -11
$155,000
REDEVEL
5225
35th
Novak -Fleck
10.026
$55,000
Sep -10
split
1,300
$203,000
Nov -10
$187,000
TIF (2150)
6420
50th
Novak -Fleck
13,479
$60,000
Sep -10
split
1,100
$211,992
Dec -10
$184,000
TIF (2150)
5708
Elmhurst
Novak -Fleck
12,800
$45,000
Sep -10
split
1.300
$181,400
Nov -10
$134,000
lb LU15 SULU:
AVERAGE
AVERAGE
AVERAGE
LOT AREA
LOT
LOT PRICE
SO FT
PRICE
PER SQ FT
10,021
$54,231
$5.41
AAAA LISA 1 ..L Cnlrr
AVERAGE
AVMI$133.85
BUILDER
FINISHED
H
LOT
SALE DATE
SOFT
P
HOUSE
PRICE
1,477
$1
NSP
AVERAGE
ASSESSOR
EMV
$174,615
FUNDING
BLDG STREET
BUILDER
LOT AREA
SQ. FT.
LOT
PRICE
LOT
SALE DATE
HOUSE
STYLE
FINISHED
SQ. FT.
HOUSE
PRICE
HOUSE
SALE DATE
ASSES OR
EMV
NSP
5906 Elmhurst
Habitat for Hum.
12,000
$1
Jan -11
rambler
1,588
$147225
Dec -11
$164,000
TIF (2150)
532535th
Novak -Fleck
10,026
$30,000
Apr -11
split
1,200
$170,000
Oct -11
$167,000
REDEVEL
5401 35th
Novak -Fleck
10,026
$25,000
Apr -11
split
1,200
$170,000
Aug -11
$167,000
NSP
4259 Vera Cmz
Habitat for Hum.
12,552
$1
May -11
rambler
1,588
$162,150
Apr -12
$177,000
REDEVEL
5224 35th
Novak -Fleck
10,086
$50,000
Nov -11
split
1,600
$193,000
May -12
$167,000
Lot orhouse price excluded from average:
9otpuce excluded from avg; discounted due M soil correction
or compliance with federal affordability rules
"house price excluded from avg; does not reflect work
completed by homebuyer, or similar factors
n 4 CMA 1 6 0 itr
b LUIS SULU'
AVERAGE
"AVERAGE
"AVGHSE
M1,
HOUSE
PRICE PER
SO FT
PRICE
FIN SQ FT
1,435
$177,687
$123.79
AVERAGE
"AVERAGE
"AVGHSE
FINISHED
HOUSE
PRICE PER
SO FT
PRICE
FIN SQ FT
1,435
$177,687
$123.79
M
FUNDING
BLDG STREET
BUILDER
LOT AREA
SQ. FT,
LOT
PRICE
LOT
SALE DATE
HOUSE
STYLE
FINISHED
SQ. FT,
HOUSE
PRICE
HOUSE
SALE DATE
ASSESSOR
EMV
REDEVEL
662046th
Novak -Fleck
9,840
$60,000
Feb12split
1,600
$198,800
Jun -12
not yet avail
REDEVEL3541
Regent
Novak -Fleck
10.500
$50,000
Apr12split
1.200
$185,900
Jul -12
not yet avail
REDEVEL
3548 Regent
Novak -Fleck
10,500
$50,000
Apr -12
split
1,326
$188,800
Aug 12
not yet avail
REDEVEL
4310 Zane
MT Builders
9.851
$45,000
May -12
Iwo story
2.235
$235,300
Aug -12
not yet avail
REDEVEL
4553 Hampshire
Novak -Fleck
7,488
$60.000
Jun -12
split
2,076
$229,755
Sep -12
not yet avail
REDEVEL
5918 Kentucky
Novak -Fleck
7,500
$45,000
Jun -12
split
1,200
$192,000
Sep -12
not yet avail
REDEVEL
702460th
Novak -Fleck
14,000
$55,000
Aug -12
split
1,326
$197,900
Nov -12
not yet avail
COBS
4306 Zane
MT Builders
9,851
$45,000
Sep -12
two story
1,581
not yet avail
REDEVEL
5533 Xenia
Novak -Fleck
8,040
$50,000
Oct -12
split
1,200
not yet avail
NSP
3528 Noble
Habitat for Hum.
7,603
$1
Dec -12
rambler
1,442
not yet avail
NSP
511635th
Habitat for Hum.
12,258
$1
Dec -12
rambler
1,348
notyel avail
NSP
4312 Brunswick
Habitat for Hum.
7,686
$1
Dec -12
rambler
1,442
"
not yet avail
NSP
5724 Perry
Habitat for Hum.
11.247
$1
Deo -12
rambler
1,404
not yet avail
NSP
7041 60th
Habitat for Hum-
18,030
$1
Dec -12
rambler
1,414
not yet avail
Lot orhouse price excluded from average:
-lot price excluded from avg; discounted due to soil correction
or compliance with federal affordability rules
"house price excluded from avg; does not reflect work
completed by homebuyer, or similar factors
AVERAGE
-AVERAGE
'AVERAGE
EAVERAGE
LOTAREA
LOT
LOT PRICE
SQ FT
PRICE
PER SQ FT
9,730
$51,111
$5.25
AVERAGE
"AVERAGE
"AVG HSE
FINISHED
I
HOUSE
PRICE PER
I
SQ FT
PRICE
FIN SQ FT
1,485
$2015
$13739
AVERAGE
ASSESSOR
EMV
not yet avail
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ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
2.
3.
2013 Work Program
Deferred Home Improvement Loans (administered by Hennepin County)
$80,000 planned expenditures (all 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 metropolitan area median
income. The anticipated funding level would typically allow four projects in
Crystal per year. The loans are 100% forgiven after 15 years provided the
homeowner continues to own and occupy the property; if they sell or move, the
loan is due and payable in full, and the recaptured funds would be used to assist
another homeowner in a similar manner. Also available are deferred loan's with a
modest interest charge for homeowners between 50% and 80% of AMI. The
county's administrative costs are embedded within overall CDBG funding.
Home Improvement Incentive Rebates (administered by GMHC)
$267,000 planned expenditures
$200,000 from TIF Housing Districts (#2152 & #2153)
$67,000 from EDA Fund
This ongoing iprogram offers a rebate for homeowners who complete home
improvement projects. The program is administered by the non-profit Greater
Metrppolitan,,Housing Corporation ("GMHC") at its Housing Resource Center
located` 't 2148 44th Avenue North in Minneapolis. Homeowners with household
income less than50%rof Twin Cities metro area median income ("AMI") qualify
fora 20% rebate (TIF -funded); 50%-80% AMI qualify fora 15% rebate (TIF -
funded); 80%-120% AMI qualify for a 10% rebate (EDA -funded). Households
over 120% AMI are not eligible.
To be
for a rebate, the application must be made before beginning the
he project must have a total cost of at least $2,000. No property
'ebates totaling more than $10,000 in one year.
JP Fund Interest Rate Buy -Down (administered by GMHC)
expenditures from TIF Housing Districts (#2152 & #2153)
The EDA will provide funds to buy down the interest rate for Crystal homeowners
using Community Fix -Up Fund loans from GMHC's Housing Resource Center.
Maximum household income is 100% of the Twin Cities metro area median (if a
household of 1-2 people) or 115% (if a household of 3+ people). Minimum loan is
$2,000; maximum is $35,000. Maximum loan -to -value ratio is 110% of the after -
PAGE 1 OF 3
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%, will be
discounted to 3%. The Minnesota Housing Finance Agency has awarded
$37,500 for this program over two years; these funds will be expended before the
EDA's TIF funds are used. There are no administrative costs for the EDA.
4. Purchase -Rehabilitation Incentive (FHA 203K) (administered by GMHC)
$11,000 planned expenditures from TIF Housing District #2 (#2153)
5.
This program was set up in mid -2009 to create an incentive for buyers of
foreclosed or vacant houses needing significant repairs, provided that the
homebuyer is using the HUD/Federal Housing Administration's "203K" purchase -
rehabilitation loan program. The EDA will provide downpayment and closing
costs assistance for 3% of the purchase price up to a maximum of $5,000. The
assistance will be in the form of an interest-free deferred loan which will be
forgiven if the homebuyer owns & occupies the property for five years. The
funding source will be available increment from TIF Housing Districts (#2152 &
#2153). This incentive may be used for any vacant single family house in the city.
To qualify, the buyer's household income could not exceed 110% AMI for a 1-2
person household or 115% AMI for a 3+ person household. The program will be
administered by GMHC's Housing Resource Center; administrative costs will be
$500 for each grant.
$225,000 planned expenditures (all from EDA Fund)
$325,000 planned revenues
This would be a continuation of the city's longstanding acquisition, demolition and
lot sale program. The adopted budgets are based on three properties being
acquired/demolished and seven lots being sold for new house construction. As
opportunities arise, additional property acquisitions may be authorized by the
EDA using fund balances. The 2013 Notice of Lot Availability is attached.
6. Other Redevelopment
The Cavanagh (5401 51st Avenue North). The EDA will demolish the existing
school building in spring 2013 then sell the 4.3 acre school site to Dominium for
construction of The Cavanagh. It will be a three 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 metropolitan area median income. Construction of The
Cavanagh will begin in summer 2013 and be completed in 2014.
PAGE 2OF3
Excess Hwy 100 Property from MnDOT. The EDA obligated available increment
from expiring TIF District #1 (#2150) to acquire six parcels of excess MnDOT-
owned highway right-of-way left over from the reconstruction of Trunk Highway
100. Three of the acquisitions have closed and the lots are available for
construction of new single family homes: 5417 35th, 3548 Welcome and 3556
Welcome. The other three acquisitions will close as soon as specific issues
related to each parcel are resolved:
• 552034 th (single family lot): Prior to MnDOT acquisition, commercial uses
including a dry cleaner were located on this site. Hennepin County paid for
Phase 1 and Phase 2 environmental investigations which concluded that
development may occur on the site. However, a response action plan and
construction contingency plan must be prepared to satisfy MPCA. The
$45,000 purchase price proposed by MnDOT will be renegotiated to reflect
the results of the environmental investigations.
• 3600 Welcome (1 acre zoned Neighborhood Commercial for office or similar
use): Prior to MnDOT acquisition, commercial uses including a gas station
were located on the east half of this site. Hennepin County paid for Phase 1
and Phase 2 environmental investigations which concluded that development
may occur on the site. However, a response action plan and construction
contingency plan must be prepared to satisfy MPCA. The $127,500 purchase
price proposed by MnDOT will be renegotiated to reflect the results of the
environmental investigations.
• 5501 32nd (2.6 acres zoned low density residential for up to 14 units). Prior to
MnDOT acquisition, a row of single family houses (30xx-31xx Vera Cruz)
occupied this site. The $255,000 purchase will close as soon as Engineering
staff and Three Rivers Park District finalize an easement for the Bassett
Creek Regional Trail which will be located between this development site and
the noise wall.
7. 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 expenditures incurred and, especially, revenue from
unanticipated property sales. The EDA board would consider the condition of a
particular fund balance when considering expenditures from same.
PAGE 3OF3
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
2013 NOTICE OF LOT AVAILABILITY - FEBRUARY 8, 2013
The Economic Development Authority of the City of Crystal is seeking proposals from builders to purchase the
following lots for construction of new single family houses. Please see the Request for Proposal packet which
may be downloaded from the Redevelopment page at www.crystalmn.gov.
PROPERTY
ADDRESS
DIMENSIONS (approx.)
width x depth area (sq. ft.
LOT
PRICE
NOTES
see p. 2
3533 Lee Ave N, Crystal MN 55422
40 x 128
5,120
$40,000
5
5417 35th Ave N, Crystal MN 55422
irregular
8,095
$40,000
6
4326 Zane Ave N, Crystal MN 55422
45 x 216
9,720
$45,000
3,5
4330 Zane Ave N, Crystal MN 55422
45 x 216
9,720
$45,000
3,5
4553 Yates Ave N, Crystal MN 55422
67 x 97
6,470
$45,000
5332 50th Ave N, Crystal MN 55429
irregular
10,000
$45,000
6
5335 Corvallis Ave N, Crystal MN 55429
irregular
12,058
$50,000
6
4331 Vera Cruz Ave N, Crystal MN 55422
45 x 209
9,405
$50,000
4349 Xenia Ave N, Crystal MN 55422
50 x 216
10,800
$50,000
3,5
4343 Xenia Ave N, Crystal MN 55422
50 x 216
10,800
$50,000
3,5
4720 Douglas Dr N, Crystal MN 55429
60 x 192
11,520
$50,000
4633 Douglas Dr N, Crystal MN 55422
75 x 132
9,963
$50,000
4901 Vera Cruz Ave N, Crystal MN 55429
irregular
13,469
$50,000
5255 Edgewood Ave N, Crystal MN 55428
60 x 133
7,989
$50,000
6516 Brentwood Ave N, Crystal MN 55428
75 x 135
10,125
$50,000
5924 Elmhurst Ave N, Crystal MN 55428
75 x 160
12,000
$50,000
5527 Xenia Ave N, Crystal MN 55429
60 x 134
8,040
$50,000
3
5548 Yates Ave N, Crystal MN 55429
79 x 134
10,575
$50,000
5626 Vera Cruz Ave N, Crystal MN 55429
66 x 135
8,910
$50,000
2
5657 Adair Ave N, Crystal MN 55429
74 x 134
9,916
$50,000
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
6601 62nd Ave N, Crystal MN 55429
62 x 169
10,498
$50,000
3548 Welcome Ave N, Crystal MN 55422
irregular
8,960
$55,000
4,6
3556 Welcome Ave N, Crystal MN 55422
irregular
17,521
$55,000
4,6
5824 Regent Ave N, Crystal MN 55429
75 x 135
10,125
$55,000
2
6529 50th Ave N, Crystal MN 55428
90 x 129
11,610
$60,000
PAGE 1 OF 2
nInTFS CPPr IF:I(; 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
2
this 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.
This lot is adjacent to another EDA lot but both lots shall remain separate lots for construction of a single family
4
house on each lot. The EDA will not consider proposals to combine the lots or build a duplex. These adjacent lots
must be purchased (or optioned) simultaneously by the same builder.
5
Due to narrow lot width and the presence of an alley, the garage must be accessed from the alley not the street.
This lot is excess MnDOT property from Hwy 100 or excess Henn Co property from CR81, and may not yet show
6
up as a distinct parcel.
GENERAL NOTES:
The EDA considers proposals on a "first-come, first-served" basis. This means that the first proposal offering to buy the
lot and build a house meeting our guidelines will be presented to the EDA for their consideration. The EDA retains
absolute discretion to decide whether to accept any particular proposal.
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.
Lot prices are firm and non-negotiable.
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: No builder may have options on more than 10% of the
EDA's lots, and no more than 50% of the EDA's lots may be under option at any time.
PAGE 2OF2