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2013.02.05 EDA Meeting PacketAGENDA ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL • REGULAR MEETING • TUESDAY, FEBRUARY 5, 2013 6:30 P.M. CRYSTAL CITY HALL COUNCIL CHAMBERS 1. Call to order 2. Roll call 3. Consider approval of minutes from the January 3, 2013, annual meeting and the January 15, 2013, work session * 4. Consider acceptance of the 2012 Annual Report and 2013 Work Program 5. Consider tentative acceptance of a proposal from Novak -Fleck to purchase a lot at 6529 50th Avenue North for construction of a new house * 6. Consider acquisition of a 6709 44th Avenue North for demolition and redevelopment 7. Other business 8. Adjournment * Materials attached 01/31/13 G:\EDAWgendas\2013\02.05.docx Minutes of the Crystal Economic Development Authority Work Session January 15, 2013 President Hoffmann called the work session of the Crystal Economic Development Authority to order at 7:32 p.m. Upon call of the roll, the following members were present: Jim Adams, John Budziszewski, Julie Deshler, Mark Hoffmann, Laura Libby, Casey Peak and Joe Selton. The following staff members were present: Anne Norris, Executive Director; Patrick Peters, Deputy Executive Director; John Sutter, Assistant Community Development Director/City Planner; and Mike Norton, City Attorney. The EDA discussed the 2012 Annual Report and 2013 Work Program, both of which will be on the February 5, 2013, EDA Regular Meeting agenda for consideration. The work session adjourned at 8:27 p.m Mark Hoffmann, President ATTEST: Julie Deshler, Vice President Minutes of the Crystal Economic Development Authority Annual Meeting January 3, 2013 Commissioner Hoffmann called the annual organizational meeting of the Crystal Economic Development Authority to order at 6:45 p.m. Upon call of the roll, the following members were present: Jim Adams, Julie Deshler, Mark Hoffmann, Laura Libby, Casey Peak and Joe Selton. The following staff members were present: Anne Norris, Executive Director; Patrick Peters, Deputy Executive Director; and Mike Norton, City Attorney. City Clerk Chrissy Serres administered the oath of office to Jim Adams, Laura Libby, Casey Peak and Julie Deshler. Commissioner Hoffmann placed into nomination a slate of EDA officers for 2013. Motion by Commissioner Selton (Adams) to approve the following slate of officers for 2013 President: Mark Hoffmann Vice President: Julie Deshler Secretary: John Budziszewski Treasurer: Joe Selton The EDA considered the 2013 meeting calendar. Motion by President Hoffmann (Selton) to approve the 2013 meeting calendar. Motion carried. Motion carried. Motion by Commissioner Selton (Hoffmann) to approve the minutes of the December 18, 2012, special meeting. Motion carried. Motion by Commissioner Peak (Libby) to adjourn the annual meeting. Motion carried. The meeting adjourned at 6:52 p.m. Mark Hoffmann, President ATTEST: Julie Deshler, Vice President MEMORANDUM ciTr of FROM: John Sutter, City Planner/Assistant Community Development Director CRYSTAL DEPARTMENT HEAD REVIEW: Patrick Peters, Community Development Director n DATE: January 30, 2013 TO: Anne Norris, Executive Director (for February 5, 2013 EDA meeting) SUBJECT: Consider 2012 Annual Report and 2013 Work Program Enclosed please find the proposed EDA 2012 Annual Report and 2013 Work Program. Regarding the questions raised by EDA members at the January 15 work session: A. In the Annual Report, properties are now listed by year of acquisition. (Please see Section 1 on pages 1-2 and Section 9 on page 5.) B. In the Work Program, we have added language to Section 5 on page 2 to clarify that actual property purchases and sales will depend on market conditions, and each would require EDA board approval. C. In the Notice of Lot Availability attached to the Work Program, the 'lot prices are firm and non-negotiable" statement has been removed. Instead, staff would consider builder proposals at lower price points depending on the following factors: • Tenure: How long has the EDA owned the lot? • Lack of recent lot sales nearby: Is this a neighborhood where the EDA has a number of lots available but little interest from builders? Could this lot sale get things started in the neighborhood? • Property characteristics: Are there factors unique to the lot to justify a reduced price, such as potentially undesirable or incompatible adjacent uses? • Quality of the new house: Is the builder proposing an especially nice house on the lot? Is it a custom build situation? This approach only works if the EDA board is comfortable with staff making judgment calls regarding these factors while negotiating with builders to bring a proposal to the EDA. (As before, the EDA board would ultimately still decide whether to accept any particular lot sale proposal.) D. Regarding listing lots on the MLS, staff was able to use a FSBO realtor to list one lot (4330 Zane) as a trial run. The listing information and a map showing MLS -listed lots in the northwest metro are attached. The main benefit to putting the lots on the MLS is to put "dots on the map" for people using the MLS to look for available lots on which to build. As you can see, there are no suburban MLS -listed lots <$80,000 until you get out to Rogers and beyond. The cost is $300 for one year plus a $100 commission if the lot is sold to a builder represented by a realtor. PAGE 1 OF 2 Staff suggests the following options for EDA consideration: 1. Have one lot listed on the MLS (currently 4330 Zane). This minimizes cost but puts just one "dot on the map". It also may give the impression that it's the only lot available. ($300 + $100 commission if it is sold to a builder represented by a realtor.) 2. List 4330 Zane plus three other lots in different neighborhoods to put a spread of "dots" across Crystal. This still fails to show all of the EDA lots, but at least it suggests that multiple lots are available. ($1,200 + $400 commission if the four lots are sold to builders represented by realtors.) 3. List all EDA lots. This would really make Crystal stand out, but it is unknown just how many people use the MLS to hunt for vacant buildable lots. ($7,500 + $2,500 commission if they are all sold to builders represented by realtors.) Because the 4330 Zane listing has only been "live" since January 23, we could wait and see if it generates interest before deciding whether to expand the MLS listings as described in options 2 and 3 above. E. Regarding the list price of 4330 Zane, we have listed it at the same $45,000 price as in 2012. However, a negotiated price reduction as discussed in item C on the preceding page would be considered based on factors specific to this lot. EDA discussion on these items is requested, followed by consideration of motions accepting the 2012 Annual Report and approving the 2013 Work Program. PAGE 2OF2 ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL 2012 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 2012 EDA activities: Single Family Residential - Scattered Site Redevelopment 14 lots were sold in 2012: Nine at market rate and Five at no cost to Habitat for Humanity. Among the nine market rate lots, as of December 31, 2012 seven houses had been completed and sold and two were nearing completion. The five Habitat houses are scheduled for construction in 2013-2014. a) Lots Sold in 2012: 1. 4306 Zane (acquired 1998) 2. 4310 Zane (acquired 2005) 3. 662046 th (acquired 2007) 4. 5533 Xenia (acquired 2010) 5. 4553 Hampshire (acquired 2011) 6. 3548 Regent (acquired 2011) 7. 3541 Regent (acquired 2011) 8. 5918 Kentucky (acquired 2011) 9. 7024 60th (acquired 2012) 10. 5724 Perry (acquired 2010) — to Habitat for Humanity (NSP*) 11. 7041 60th (acquired 2010) — to Habitat for Humanity (NSP`) 12. 3528 Noble (acquired 2010) —to Habitat for Humanity (NSP*) 13. 511635 th (acquired 2010) —to Habitat for Humanity (NSP*) PAGE 1 OF 5 14. 4312 Brunswick (acquired 2010) —to Habitat for Humanity (NSP*) *NSP refers to 100% federally funded acquisition and demolition of foreclosed, vacant and blighted houses. b) Lots Available as of December 31, 2012: 1. 4330 Zane (acquired 1999) 2. 4326 Zane (acquired 2002) 3. 5527 Xenia (acquired 2007) 4. 5626 Vera Cruz (acquired 2007) 5. 5657 Adair (acquired 2007) 6. 4343 Xenia (acquired 2007) 7. 3533 Lee (acquired 2008) 8. 4331 Vera Cruz (acquired 2008) 9. 5824 Regent (acquired 2008) 10. 5700 Regent (acquired 2009) 11. 6529 50t (acquired 2009) 12. 4633 Douglas Dr (acquired 2009) 13. 5255 Edgewood (acquired 2009) 14. 5548 Yates (acquired 2009) 15. 5715 Regent (acquired 2009) 16. 4901 Vera Cruz (acquired 2009) 17. 4553 Yates (acquired 2009) 18. 541735 th (excess MnDOT property acquired 2010) 19. 3548 Welcome (excess MnDOT property acquired 2010) 20. 3556 Welcome (excess MnDOT property acquired 2010) 21. 4349 Xenia (acquired 2012) 22. 4720 Douglas Dr (acquired 2012) 23. 6601 62nd (acquired 2012) 24. 5335 Corvallis (excess Henn Co property acquired 2012) 25. 5332 50th (excess Henn Co property acquired 2012) 26. 5924 Elmhurst (acquired 2012) 27. 6516 Brentwood (acquired 2012) 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 2 OF 5 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 3OF5 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 5151 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 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: 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. 5565 Vera Cruz (acquired 2011 - tax forfeit) 10. 3354 Douglas Dr and 6213 34th (acquired 2011) 11. 3443 Edgewood (acquired 2012 - tax forfeit) A map of city and EDA -owned property as of December 31, 2012 is attached as Exhibit F. PAGE 5 OF 5 O 01 OO M r N O N r O N O E o a o m (Mo o m o co a vi r N M v 0 t H O SS�8 � 0 Mo Nr 0 0 0 f9 IA (9 fA f9 f9 W 4d d3 4A to fA di 0 01 V M O N M t o N r In o MN Of M a N 0 M o M M M Cl r O O M M N M N M O M M Oa N� y N r A M r N O r OMi Ori 0 43 fA i9 19 f9 fy9 W W V3 d3 f9 IA f9 f9 O N O O o M (Op r O O (O CJ r r V O 0 O 0 o M N 0 o V N r V ai (V f0 N N M r h V O N (9 N W M f9 V f9 f0 M (O E9 M M r t9 M f9 M f9 r f9 IA f9 V1 W In di r O N r W M N N M O M N M O o N M O M M r M M 0 N m m rn m o o 0 00 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 N N N N N N N N N N N N N N O N 0 0 0 0 0 0 0 0 0 yG pG O O O O O O O Yi M M M N N H O W f9 IA f9 d! 'M rW N q c o � E p m a � 3 � nc Piwa v SS�8 � N O N 0 0 0 0 0 0 0 0 0 yG pG O O O O O O O Yi M M M N N H O W f9 IA f9 d! 'M rW Sale Year: 01998-2011 • 2012 0 0.25 0.5 Miles "M�� N A Z Lid K- ,3 m m W FUNDING BLDG STREET BUILDER LOTAREA SO FT. LOT PRICE LOT SALE DATE HOUSE STYLE FINISHED SOFT. HOUSE PRICE HOUSE SALE DATE ASSESSOR EMV TIE (2150) 4813 Idaho Novak -Fleck 8,023 $55,000 Apr -10 split 1,200 $177,310 Jun -10 $155,OD0 TIF (2150) 4801 Idaho Novak -Fleck 8,648 $55.000 Apr -10 split 1,200 $182.436 Jun -10 $176,000 REDEVEL 5309 34th PI NovakFleck10,026 1,200 $60,000 Apr -10 split 2,000 $203,255 Jun -10 $188,000 REDEVEL 5101 35th Novak -Fleck 11,707 $55,000 Apr -10 split 2.000 $166,000 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 $45000 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 Sao 10 $190,000 REDEVEL 4612 Hampshire Novak -Fleck 8.610 $60,000 Jul10split Dec -12 2.000 $231,268 Sep -10 $195,000 HE (2150) 4807 Idaho Novak -Fleck 8,023 $55,000 Aug -10 split 1.300 $198,000 Feb -11 $155,000 REDEVEL 5225 35th NovakFleck10,026 $1 $55,000 Sep -10 split 1,300 $203,000 Nei $187,000 TIF (2150) 6420 50th Novak -Fleck 13,479 $60000 Sep -10 split 1,100 $211,992 Dec10$184,000 7041 60th TIF (2150) 5708 Elmhurst Novak -Fleck 12,800 $45,000 Sep -10 split 1,300 $181,400 Nov -10 $134,000 AVERAGE AVERAGE AVERAGE LOT AREA LOT LOT PRICE SO FT PRICE PER SO FT 10,021 $54,231 $5.41 n A 1 _a O. I. AVERAGE E AVG HSE FINISHED V$111,682 PRICE PER SO FT FIN SO FT 147] I $133.85 AVERAGE ASSESSOR EMV $174615 FUNDING BLDG STREET BUILDER LOT AREA SO, FT. LOT PRICE LOT SALE DATE HOUSE STYLE FINISHED SO. FT, HOUSE PRICE HOUSE SALE DATE ASSESSOR EMV NSP 5906 Elmhurst Habitat for Hum. 12,000 $1 Jan -11 rambler 1,588 $147,225 Dec -11 $164,000 HE (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 Apr11split split 1,200 $170,000 Aug -11 $167000 NSP 4259 Vera Cruz Habitat for Hum. 12,552 $1 May -11 rambler 1,588 $162,150 Apr12" $177000 REDEVEL 5224 35th Novak -Fleck 10.086 $50,000 Nov -11 split 1,600 $193,000 May -12 $167,000 Lot orhouse pnce excluded, Irom average: 'lot pace excluded from avg: disecomed 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 n/a Cr%. 1 ..4 C..I..r AVERAGE -AVERAGE 'AVERAGE LOT AREA LOT LOT PRICE SO FT PRICE PER SO FT 10.086 $50,000 $4.98 AVERAGE "AVERAGE "AVG HSE FINISHED HOUSE PRICEPER SO FT PRICE FIN SO FT 1,435 $177,667 $123.79 AVERAGE ASSESSOR EMV $168,400 FUNDING BLDG STREET BUILDER LOT AREA SOFT. LOT PRICE LOT SALE DATE HOUSE STYLE FINISHED SOFT. HOUSE PRICE HOUSE SALE DATE ASSESSOR EMV REDEVEL 662046th Novak -Fleck 9,840 $60,000 Feb -12 split 1,600 $198800 Jim 12 not yet avail REDEVEL 3541 Regent Novak -Fleck 10,500 $50000 Apr -12 split 1,200 $185,900 Jul -12 not yet avail REDEVEL 3548 Regent Novak -Fleck 10,500 $50000 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 2076, $229,755 Sep 12 not yet avail REDEVEL 5918 Kentucky NovakFleck7,500 $45,000 Jun -12 split 1,200 $192,000 Sep 12 not yet avail REDEVEL 7024 60th Novak -Fleck 14,000 $55,000 Aug -12 split 1,326 $197,900 Nov -12 not yelavail CDBG 4306 Zane MT Builders 9,851 $45,000 Sep 12 1story 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. 7603 $1 Dec -12 rambler 7,442 " not yet avail NSP 511635th Habitat for Hum. 12,258 $1 Dec -12 rambler 1,348 not yet 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 Dec -12 rambler 1,404 notyetavail NSP 7041 60th Habitat for Hum. 18,030 $1 Dec -12 rambler 1,414 not yet avail Lot or house price excluded from average: 'lot price excluded from avg; discounted due to soil correction or compliance with federal affordability rules "house pnce excluded Irom avg: does not reflect work completedbyhomebuyer, orsimilarfactors 14 LU IS SULU: AVERAGE 'AVERAGE 'AVERAGE LOTAREA LOT LOT PRICE SO FT PRICE PER SO FT 9,730 $51,111 $5.25 AVERAGE "AVERAGE "AVG HSE FINISHED HOUSE PRICE PER SO FT PRICE FIN SO FT 1,485 $204.065 $137.39 AVERAGE ASSESSOR 6EMV notyetavail CY) c� ^ C (6 O O = ry U O � a) -i E O cu U > .E N O X O V-- Q O EO_ N — CL Q z Z Z 9 Ie A Z 47TH AVE N 0 1000 2000 Feet 0 m Z r�. Z It.d{��t�� .... �:.•�iy+�r._rry, P ,M'f`r.. _.yJ•. A/,�., LU ■■� e i 4 G lilili • P I 0- 0 W ui bZ+ Y T p W i L n ca x a s — W f Ips � U � � LU LU ® W CL r�. ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL 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 loans with a modest interest charge for homeowners between 50% and 80% of AMI. The county's administrative costs are embedded within overall CDBG funding. 2. 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 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 metro area median income ("AMI") qualify for a 20% rebate (TIF -funded); 50%-80% AMI qualify for a 15% rebate (TIF - funded); 80%-120% AMI qualify for a 10% rebate (EDA -funded). Households over 120% AMI are not eligible. To be eligible for a rebate, 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. Community Fix -Up Fund Interest Rate Buy -Down (administered by GMHC) $25,000 planned 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) S. 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, 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 2013 Notice of Lot Availability is attached. 6. Other Redevelopment The Cavanagh (5401 51't 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 PAGE 2OF3 60% of Twin Cities metropolitan area median income. Construction of The Cavanagh will begin in summer 2013 and be completed in 2014. 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 32"d (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. 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 areas . 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 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 1 6529 50th Ave N, Qystal MN 55428 go X 129 -1-1-,610 $60-;080 SALE PENDING PAGE 1 OF 2 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 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. 6 This lot is excess MnDOT property from Hwy 100 or excess Henn Co property from CR81, and may not yet show up as a distinct parcel. GENERALNOTES: 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. 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 2 OF 2 Kris Pratt Accounts Manager- HomeAvenue, Inc. A Better Way to Buy and Sell a Nome. 4330 Zane Ave N, Crystal, MN 55422 Status: Active List Price: $45,000 Front Dimensions: 45 TAX INFORMATION Left Dimensions: 216 Property ID: Right Dimensions: 216 Tax Year: Rear Dimensions: 45 Tax Amt: Acres: 0.22 Assess Bal: Min Lot Size: Tax w/assess: Assess Pend: Homestead: Plat Recorded: krisghomeavenue.cem Office: 952-929-7355 Fax: 952-924-0283 Customer Full Display, Lots & Land, MLS #: 4330808 Original List Price: $45,000 areyau v J School District: Park s Open Restrictions/Gouts: CAVANAGH OAKS 102 Improvements: Curbs, Paved Streets, Sidewalks, Storm Sewer Zoning: WELCOME PARK Road Frontage: FLORIDA Lot Description: Tree Coverage - Light, City Bus (w/in 6 bilks) VENUE NORTH 44th AveN On Site Utilities: Z Y Finished Lot 0 Tillable Acres: Topography: Level / o 4Znu AveN 100 Ck DGEN/OOD -_NUE NORTH: B,2J13 tl Vrosoft 0orp;•rnbr. ®'012 Nokis Map Page: 91 Map Coord: E3 Directions: General Property Information Legal Description: Lot 017 Block 003 Robbinsdale Home Gardens 2nd Addn 1611821210063 2012 No No y County: Hennepin School District: 281 - Robbinsdale281 - Robbinsdale Builder Restriction: Open Restrictions/Gouts: Rentals not Permitted, Other Land Inclusions: Platted, Torrens Improvements: Curbs, Paved Streets, Sidewalks, Storm Sewer Zoning: Residential -Single Road Frontage: City Lot Description: Tree Coverage - Light, City Bus (w/in 6 bilks) Available Utilities: Electric, Natural Gas, City Water, City Sewer, Storm Sewer, Telephone, Cable T.V. On Site Utilities: Electric, Natural Gas, City Water, City Sewer, Storm Sewer, Telephone, Cable T.V. Development Status: Finished Lot Farm Type: Tillable Acres: Topography: Level Soil Type: Pasture Acres: Out Buildings: Crop Type: Wooded Acres: Agric Water: Public Remarks: Lot buyer must be licensed builder. Sabi to Bevel agmt incl builder's specific house plan. House may be spec or custom, min 3BR, 2BA, 2 -tar gar. Offers must be in the form of a builder proposal using Request for Proposals packet available from seller. Owner is an Agent?: No In Foreclosure?: No Lender Owned?: No Potential Short Sale?: No Information Deemed Reliable But Not Guaranteed. Copyright (c) 2013 Regional Multiple Listing Service of Minnesota., Inc. All Rights Reserved. I, i1 P Nx W - {IJ �k ep q I r_ 5 FL rq ni'I �d !s ICIP C6 M. t Fs� I, i1 P Nx W - {IJ �k ep q I r_ 5 FL EDA STAFF REPORT CAL 6529501h New house proposal (Novak -Fleck) FROM: John Sutter, City Planner/Assistant Community Development Directors DEPARTMENT HEAD REVIEW: Patrick Peters, Community Development Director��� DATE: January 30, 2013 TO: Anne Norris, Executive Director (for February 5, 2013 EDA meeting) SUBJECT: Consider tentative acceptance of a proposal from Novak -Fleck to purchase a lot at 6529 50th Avenue North for construction of a new house We have received a proposal from Novak -Fleck, Inc. to purchase the lot at 6529 50th Avenue North for $60,000. Novak -Fleck has a Minnesota Residential Building Contractor license with no enforcement actions. This would be a spec home without a specific homebuyer at this time. This design is similar to 7024 60th except that, to be consistent with the other houses on this block, the garage's overhead door and driveway would access the alley instead of the street, and a sidewalk would be built from the front door to the street curb. The house would have 990 sq. ft. on the upper level and 864 sq. ft, on the lower level. The upper level would have an open living -dining -kitchen area, two bedrooms and one bathroom. The lower level would have a bedroom, bathroom and family room (all finished) plus a laundry/mechanical room. A 2009 aerial photo, preliminary site sketch and house plan are attached. REQUESTED EDA ACTION: Tentative acceptance of this proposal subject to EDA consideration of a resolution authorizing the lot sale at a public hearing on February 19, 2013. N (gp�c/AE IF 7/E R f/1 OF Si/20° SW f/•{' SCALE •apse L1110UP AVF 11*. SEC. a. W. W. R.Yf �„ : 30' aanpea N'68�E e en.e BOTH AVM M- N. ' errae . altn' aII -cow.. now aA era � `e7eA S i' a g'$'.• 6"A g O7B .. gg aegAl 12" , b �v aI 9.9 efe.II - 1ry. ' IY A ,� .wYmlIIa• 1.6 ra . Of fildrille Vpp II4 shad a � efer ° areA 0 - •�' III' A "Wo age of al wb6 a7s ALLEI ' ( &�8'�eW �,�gleeaw,deaml `• SOUR/ C /AV LR- 7W a W W SW OF sw 1/4 OF SE 114OF AE f/*, SEC. a. 7W. f/a. R.Bf PROPOSALFORM PROPOSAL TO THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL 6529 50th Avenue North The West 90 feet of the East 310 feet of the North 1/2 of the South'/: of the Southwest'/4 of the Southeast'/4 of the Northeast'/4 of Section 8, T1 18N R21W, Hennepin County, Minnesota. Note: A street easement will be granted across the North 30 feet, and an alley easement will be granted across the South 7 feet. BUILDER OFFERS $60,000 FOR THIS LOT (this is the EDA's minimum price) BUILDER: (Builder is required to be a Residential Building Contractor licensed by the State of Minnesota.) Name: �I(�II J �i l��l�Ytd�l v`-� I State License Number: 310 I _ Tel (17[g�)�'{ ���� J Tel (2): Addressc/C�07 L1ea_' and A\JLI Email: c ;ty(X u 1 n—, -A om no L This proposal is not a purchase agreement or other to purchase this lot and build a new single family house in accordance with the RFP Guidelines. If this proposal is tentatively accepted by the EDA board, then EDA staff would work with the Builder to determine the specific house plan and present it at the next EDA meeting. If the EDA board gives final approval at that time, the Builder would sign a Purchase & Redevelopment Agreement and provide $2, 000 earnest money for the lot. Only after such an Agreement is signed would a binding contract exist between the EDA and the Builder. REQUIRED ATTACHMENTS AND ADDITIONAL INFORMATION: ❑ Attach one representative example of a house you would plan to build on this lot if your proposal is selected. It does not need to show exactly how it would be placed on the lot; it just needs to show the approximate size, quality and features you would anticipate a new house would have on this lot. A specific house plan would be determined after a proposal is tentatively accepted by the EDA. ❑ The EDA will only sell lots to builders who have experience in house construction in Minnesota. Please list the addresses of three houses you have built in Minnesota within the last five years, or attach other evidence of qualifications for review by the EDA: �/� �� I 1 p 1 `I House #1: oa4— (pS�h��LlJl.l House #2: House SUBMIT PROPOSAL TO: Attn: John Sutter, Crystal EDA, 4141 Douglas Dr N, Crystal MN 55422 TEL: 763.531.1142 FAX: 763.531.1188 john.sutter@crusta Im n.goy PROPOSALS MAY BE SUBMITTED BY HAND DELIVERY, U.S. MAIL, FAX, OR EMAIL (.pdf format) PROPOSALS MAY BE SUBMITTED AT ANY TIME, AND WILL BE CONSIDERED ON A "FIRST COME, FIRST SERVED" BASIS ISO .. I!nii'' lii III iii Mi I Iii lil ISI lil I I lil ®nuxsaoo \ f� I, Ii i `w w RA W FI'H F (� to 1H r Ht i f �Q 11 �•1 Rin • ' j,.� OIV� �. ____-� v fail �1�7 •����� • ___--____-...._. S ®nuxsaoo wao wcmwr+xrry rxnrr maws �i+.�oun�rw� 00��$t� s 8y2 sx.wa �r��.-m a+arsa��wwAuxf wM�rr��¢ai�s1 wore. va. zwecYaa+w �w�+wau� xxu�av Trr 4 urn¢a � ..« ar�n Ma »urr+� aa, rx ♦ays r. wa:rara+xr wuwu+om tinhorn �w- 5p •maoroo�owatex �mafr it � TM awi au •Avaaa ewa a..rw wu � tivan�y aanaf �� _.... awc scav � r. r •tvr i �..... a.,....9 � w _.�..�.,.-,. ,�..� ..�. � .n..�.,�... a.: a .�.. !tl�' !ISA i �fl iCM Mi AY'IYTJ 1T'J� iew .rK wL �u lcuamrd aw'Yf O1y CITY'of EDA STAFF REPORT CRYSTAL 6709 44th Acquisition for Redevelopment FROM: John Sutter, City Planner/Assistant Community Development Director/ DEPARTMENT HEAD REVIEW: Patrick Peters, Community Development Director DATE: January 30, 2013 TO: Anne Norris, Executive Director (for February 5, 2013 meeting) RE: Consider a resolution authorizing acquisition of 6709 44th Avenue North for demolition and redevelopment A. BACKGROUND 670944 th has gone through foreclosure and is listed for sale by the lender for $49,900. According to the Hennepin County Assessor, the estimated market value was $98,000 as of January 2012. The following Exhibits are attached: A. 2009 aerial photo B. Property photos taken January 25, 2013 C. Hennepin County property characteristics and tax information D. Foreclosure information E. MLS for sale listing F. Estimated budget G. Proposed resolution B. STAFF COMMENTS The subject property is 72 feet wide and 146 feet deep, with an area of 10,506 sq. ft. (0.24 acres). The lot meets current zoning requirements for width, depth and area. The house appears to have originally been built around 1940 as a slab -on -grade chicken coop, then converted for residential use and expanded in the 1950s. It has 1,004 sq. ft. on one level, including one bedroom, bathroom, living room, kitchen and laundry. The attic area has been finished as a sort of loft area but is not code compliant due to low ceiling height (3-6 feet) and lack of an egress PAGE 1 OF 2 window. The house shows signs of wood rot and water penetration in multiple locations. The detached garage is in similarly poor condition. If the EDA desires to acquire the property, then action on the attached resolution is requested. In its motion the EDA should indicate the amount of its offer. The list price is $49,900. The attached estimated budget presumes a purchase price of $45,000 and a lot sale price of $60,000, with net expenditures of $8,964 from the Redevelopment Fund. The budget's demolition costs are based on having a contractor demolish the house; however, we typically have the city's street maintenance crew do the demolition in-house and this reduces expenditures by approximately $5,000. We would expect to close on the acquisition in early March 2013 and demolish the house in May 2013. If the EDA does not desire to acquire the property, then no action is required. C. REQUESTED ACTION If the EDA wishes to acquire this property, it would need to approve the attached resolution approving the purchase of the subject property and authorizing the execution of documents necessary to complete the purchase. In the motion, the EDA should indicate the amount of its offer. PAGE 2OF2 ..y .q j]1 all JL -jr— � s ti<a , i Parcel 6709 44Th Ave N Tax $3,016.08 Address: Crystal, MN 55428 Total: (Payable: 2012) Property Type: Residential Home- Homestead stead: Parcel 0.24 acres Area: 10,506 sq ft Sale Price: $143,675 Sale 04/2002 Date: Sale Warranty Deed Code: This map is a compilation of data from various sources and is furnished "AS IS" with no representation or warranty expressed or implied, including fitness of any particular purpose, merchantability, or the accuracy and completeness of the information shown. COPYRIGHT © HENNEPIN COUNTY 2013 .& Think Green! m h m W . i5� A/ .;,Y,, ,, j.' as', 1 R.�,.-_..�. _...n�.,.T,� � _'I --I ' f` Sale Information Sales prices are reported as listed on the Certificate of Real Estate Value and are not warranted to represent arms -length transactions. Sale Date: April, 2002 Sale Price: $143,675 Transaction Type: Warranty Deed Tax Parcel Description The following is the County Auditor's description of this tax parcel. It may not be the legal description on the most recent conveyance document recording ownership. Please refer to the legal description of this property on the public record when preparing legal documents for recording Addition Name: "FAIRVIEW ACRES SECOND UNIT, HENNEPIN COUNTY, MINNESOTA" Lot: Block: First Line Metes & Bounds: W 43 FT OF LOT 24 AND THAT PART Full Metes & Bounds: Note: To read full tax parcel description, click here. Abstract or Torrens: TORRENS Value and Tax Summary for Taxes Payable 2012 Values Established by Assessor as of Januaryll. f Estimated Market Value: Note. Taxes Payable 2013 (2012 Values) will be available on this web site approximately 03101 Parcel Data for Taxes Payable 2012 Property ID: 17-118-21-12-0032 Address: 6709 44TH AVE N Municipality: CRYSTAL School Dist: 281 Construction year: 1940 Watershed: 8 Approx. Parcel Size: 71.95 X 146 Sewer Dist: Owner Name: S I BARTA & B D BART( Taxpayer Name STEVEN & BRAliIDI-9ARTA &Address: E N C709 44L M -N 55428 Sale Information Sales prices are reported as listed on the Certificate of Real Estate Value and are not warranted to represent arms -length transactions. Sale Date: April, 2002 Sale Price: $143,675 Transaction Type: Warranty Deed Tax Parcel Description The following is the County Auditor's description of this tax parcel. It may not be the legal description on the most recent conveyance document recording ownership. Please refer to the legal description of this property on the public record when preparing legal documents for recording Addition Name: "FAIRVIEW ACRES SECOND UNIT, HENNEPIN COUNTY, MINNESOTA" Lot: Block: First Line Metes & Bounds: W 43 FT OF LOT 24 AND THAT PART Full Metes & Bounds: Note: To read full tax parcel description, click here. Abstract or Torrens: TORRENS Value and Tax Summary for Taxes Payable 2012 Values Established by Assessor as of Januaryll. f Estimated Market Value: $120,000 Taxable Market Value: $93,560 Total Improvement Amount: Total Net Tax: $1,691.92 oco Total Special Assessments: $1,324.16 9 �J Solid Waste Fee: Total Tax: $3,016.08 Property Information Detail for Taxes Payable 2012 Values Established by Assessor as of January 2, 2011 _ Values: Land Market $41,000 Building Market $79,000 Machinery Market Total Market: $120,000 Qualifying Improvements Veterans Exclusion aI\10 '1 S u n n n n n u n n n n u n n u w o n n n u n n u xx NN Z U_ N Me U Q 07 W co W.� x x x x x x x x a �c. x x x x a x x x x x x x x ^r O = O `V F- U _ O co z w a w a 0 0 rn n o' 0 OE' u A � '. M N O c .�1®81181 LT O g F LL yy z w Z s e m m _ 'U A _ LLa ❑ Q r < Z X N N o K a n N W a a w 2 9 Z CD x N 19 .i q f+ Z C7 M � .+x N m y o W z Lu v I, n a>3a Z M .i .T ma w uj c a x Ci w N (a9 Q LL a } E: N SIT D. F -m d t OV)a N M a P Y 0 W LL Ln >a, LL _ y � V �f W O O _ N o D7 Vl 'D ELL 0 e n OE' u A � '. M N O c .�1®81181 LT O g F ea m z w Z V_ �T o _ N _ V D_ r Z (n N N K K a n N W a a w 2 9 Z CD x N 19 .i q f+ Z C7 M � .+x q az m y o W z Lu v I, n a>3a Z M .i .T ma w uj c a x Ci w N z o ❑ J a 2> } E: N SIT OE' u A � '. M N O c o LT O g F ea m z w Z V_ �T o _ N _ V D_ W Z (n N N K K a n N W a a w 2 9 Z CD x N 19 .i q f+ Z C7 M � .+x q az m y o W z Lu v I, n a>3a Z M .i .T ma w uj c a x Ci w N z o ❑ J a 2> E: N SIT D. F -m wO OV)a ZSTaJ a P Y 0 W LL DK >a, LL _ y � V �f W O O _ N o D7 Vl 'D ELL m e n � Ls W w M U m N z y z a a OE' MONNmoomw ;I N 9®IE RHM8E HHG ❑ u A � '. U] S O c n O Z O g F ea m `m S V_ �T o _ _ N 9 Z xa N x N � m y o � a n a n 3 3 S E: N i x a X X _ y � N _ N a m e n � m am m a' ci IL i` a i x n a n n m K X MONNmoomw ;I N 9®IE RHM8E HHG ❑ u A � '. U] S O z n O Z O g F ea m `m S o _ _ Z xa N x N � o � 0 � n n 3 3 S E: N i x a n a a m e n � m am m N m m n IM®E© `o % m a° a z O o _ _ Z xa N x N � o 0 3 3 S NOTICE OF MORTGAGE FORECLOSURE SALE NOTICE IS HEREBY GIVEN that default has occurred in the conditions of the following described mortgage: DATE OF MORTGAGE: March 19, 2004 ORIGINAL PRINCIPAL AMOUNT OF MORTGAGE: $175,750.00 MORTGAGOR(S): Brandi D. Barta and Steven J. Barta, wife and husband MORTGAGEE: Mortgage Electronic Registration Systems, Inc. DATE AND PLACE OF REGISTERING: Registered: April 30, 2004 Hennepin County Registrar of Titles, Document Number: 3954380 ASSIGNMENTS OF MORTGAGE: And assigned to: THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK AS TRUSTEE FOR THE CERTIFICATEHOLDERS OF CWABS 2004-05 Dated: June 18, 2010 Registered: August 09, 2010 Hennepin County Registrar of Titles, Document Number: T4777433 Transaction Agent: Mortgage Electronic Registration Systems, Inc. Transaction Agent Mortgage Identification Number: 100015700033170651 Lender or Broker: Full Spectrum Lending, Inc. Residential Mortgage Servicer: Bank of America, N.A. Mortgage Originator: Not Applicable CERTIFICATE OF TITLE NUMBER: 1086548 COUNTY IN WHICH PROPERTY IS LOCATED: Hennepin Property Address: 6709 44th Ave N, Crystal, MN 55428-5241 Tax Parcel ID Number: 17.118.21.12.0032 LEGAL DESCRIPTION OF PROPERTY: Lot 25, except the West 89 feet, front and rear thereof the West 43 feet of Lot 24, "Fairview Acres Second Unit, Hennepin County, Minnesota" Registered Land as set forth in Certificate Number 1086548 AMOUNT DUE AND CLAIMED TO BE DUE AS OF DATE OF NOTICE: $272,917.36 THAT all pre -foreclosure requirements have been complied with; that no action or proceeding has been instituted at law or otherwise to recover the debt secured by said mortgage, or any part thereof; that this is registered property, PURSUANT to the power of sale contained in said mortgage, the above-described property will be sold by the Sheriff of said county as follows: DATE AND TIME OF SALE: March 01, 2012 at 10:00 AM PLACE OF SALE: Hennepin County Sheriff's Office, Civil Division, Room 30, Courthouse, 350 South 5th Street, Minneapolis, Minnesota to pay the debt secured by said mortgage and taxes, if any, on said premises and the costs and disbursements, including attorney fees allowed by law, subject to redemption within six (6) months from the date of said sale by the mortgagor(s), their personal representatives or assigns. If the Mortgage is not reinstated under Minn. Stat. §580.30 or the property is not redeemed under Minn. Stat. §580.23, the Mortgagor must vacate the property on or before 11:59 p.m. on September 04, 2012, or the next business day if September 04, 2012 falls on a Saturday, Sunday or legal holiday. Mortgagor(s) released from financial obligation: NONE THIS COMMUNICATION IS FROM A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. THE RIGHT TO VERIFICATION OF THE DEBT AND IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME PROVIDED BY LAW IS NOT AFFECTED BY THIS ACTION. THE TIME ALLOWED BY LAW FOR REDEMPTION BY THE MORTGAGOR, THE MORTGAGOR'S PERSONAL REPRESENTATIVES OR ASSIGNS, MAY BE REDUCED TO FIVE WEEKS IF A JUDICIAL ORDER IS ENTERED UNDER MINNESOTA STATUTES, SECTION 582.032, DETERMINING, AMONG OTHER THINGS, THAT THE MORTGAGED PREMISES ARE IMPROVED WITH A RESIDENTIAL DWELLING OF LESS THAN FIVE UNITS, ARE NOT PROPERTY USED IN AGRICULTURAL PRODUCTION, AND ARE ABANDONED. DATED: January 18, 2012 THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK AS TRUSTEE FOR THE BENEFIT OF THE CERTIFICATEHOLDERS OF THE CWABS INC., ASSET-BACKED CERTIFICATES, SERIES 2004-5 Assignee of Mortgagee WILFORD, GESKE & COOK P.A. Attorneys for Assignee of Mortgagee Lawrence A. Wilford James A. Geske 8425 Seasons Parkway, Suite 105 Woodbury, MN 55125-4393 0 (651) 209-3300 File Number: 015311F02 (January 18, 25, February 1, 8, 15, 22, 2012) m 22295914 W RECORD OF FORECLOSURE EXECUTION SALE Sale Record Number: 1210037 Mortgage Document Number: 3954380 Date of Sale: 10/4/2012 Type of sale: Mortgage Mortgagor(s): Brandi D Barta, Steven J Barta Mortgagee: THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK AS TRUSTEE FOR THE BENEFIT OF THE CERTIFICATEHOLDERS OF THE CWABS INC., ASSET-BACKED CERTIFICATES, SERIES 2004-5 To Whom Sold: THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK AS TRUSTEE FOR THE BENEFIT OF THE CERTIFICATEHOLDERS OF THE CWABS INC., ASSET-BACKED CERTIFICATES, SERIES 2004-5 Final Bid Amount: $295,195.24 Redemption Expiration Date: 4/4/2013 -=--->,. Deputy Sold By: Sgt. Willis Jacox 11/16 I J_-u_jC -jjI_Ie c, v\ T Law Firm/Attorney: Wilford, Geske & Cook P.A. I '2-0 12-o 12. Unverified Common Address: 6709 44th Ave N, Crystal Optional Comments: No value entered Notice of Intent to Redeem by creditor(s) filed with Sheriff: This report prepared for you by Steven Ennen Start Distressed Homes:... Favorites Possibilities Discarded lJ Help Active Matches - Displaying 1 of 26 - Show: No Longer Matching e) Unread Miuches [132248¢2 8910_ Next Bottom Back to Customer Single Line display Customer Full Display, Single Family Residential, MLS4331345 F - 6709 44th Avenue N , Crystal, MN 55428 Status: Active List Price: $49,900 1/8 Total Bed/Bath: 1/1 Garage: 2 Year Built: 1949 Style: (SF) One 1/2 stories Const Status: Previously Owned Foundation Size: 1,043 AbvGrdFinSgFt 1,468 BaiGrdFinSq Ft Total Fin Si 1,468 Acres: 0.24 Lot Size: 7111 Yearly: Yearly Type: For sale Original List Price: $49,900 he Fo:mt ¢ugm ch -1 Park k Palk. FORER toz' W 45th AveN FcOCID.A Fred M., *'ENUENar.Tn 4 gnu Lane i Perk pa.y Ind AveN c Zryq :ifi30i%�tm:Coryn:on Av'i :NO¢TtJMu Noku Map Page: 91 Map Coord: 03 Directions: 42nd (County 9) to Douglas Dr. North on Douglas to 441h. West (Len) on 44th to home. V (Click Icon for Virtual Earth Map) TAX INFORMATION Property ID: 1711821120032 Tax Year: 2012 Tax Amt: $1,692 Assess Bal: $1,324 Tax w/assess: $3,016 Assess Pend: Yes Homestead: No General Property Information Legal Description: FAIRVIEW ACRES IND UNIT W 43 FT OF LOT 24 AND THAT PART OF LOT 25 LYING E OF THE W 89 FT THEREOF County: Hennepin Postal City: Minneapolis School District: 281- Robbinsdale, 763-504-8000 CompleWDev/Sub: Common Wall: No Resections/Coots: Lot Description: Tree Coverage - Medium Association Fee: $ Assoc Fee Frequency: Assoc Fee Includes: Road Frontage: City Zoning: Residential -Single Accessibility: None Welcome John Sutter Remarks Public Remarks: Greet opportunity to own a l+ bedroom home at an amazing price. Features: Large living room, 2 car garage, large backyard, extra storage / den upstairs, rear porch and more. Structure Information Room Level mean Other Rooms Living Ron Main 16x36 Den Dining Run Family am Bathrooms Kitchen Main 18x13 Total: 1 3/4: 0 1/4: 0 Bedroom 1 Main 16xI3 Full: 1 1/2: 0 Bedroom 2 Bedroom 3 Bedroom 4 Level Dimen Upper 25x13 Bath Description: Main Floor Full Bath Dining Room Dei Family Room Char: Fireplaces: 0 Fireplace Charactenuics: Appliances: Basemen[: None Exterior: Wood, stucco Fencing: Chain Link Roof: Asphalt Shingles, Pitched Amenities -Unit: Porch, Tiled Floors Parking Char: Detached Garage Owner Is an Agent]: No In Foreclosure?: No Lender Owned7: Yes Potential Short Sale?: No Heat: Forced Air Fuel: Natural Gas Air Cord None Water: City Water/Connected Sewer: City Sewer/Connected Garage: 2 Oth PAg: Pool: [3)2848878914_ r.-., -Next-JU Back to Customer Sinals Line display (a Print Email V Map m Add to Favorites .9) Add to Possibilities ® Discard Display: CU$tOmef Full E at F71 per page. REDEVELOPMENT OF 6709 44th Estimated Budget $45,000 PURCHASE PRICE Jan 2012 EMV $98,000; list price $49,900 $11,000 demolition $3,300 administrative costs (legal, title work, etc.) $1,441 property taxes (pay 2013) $5,508 special assessments levied $536 special assessment pending $2,179 contingency (10% of the items above except the purchase price) ------------ $68,964 TOTAL EXPENDITURES FROM REDEVELOPMENT FUND $60,000 LOT SALE PROCEEDS TO BE RETURNED TO REDEVELOPMENT FUND $8,964 NET EXPENDITURES FROM REDEVELOPMENT FUND 2013.02.05 estimated budget offer 45000 1129/2013 4. h m W ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL HENNEPIN COUNTY STATE OF MINNESOTA RESOLUTION NO. A RESOLUTION AUTHORIZING ACQUISITION OF REAL PROPERTY AT 6709 44TH AVENUE NORTH WHEREAS, the Economic Development Authority of the City of Crystal (the "EDA") desires to acquire, on a voluntary basis from a willing seller, real property located at 6709 44th Avenue North (the "Property"); and WHEREAS, the EDA desires to specifically and explicitly authorize execution of any and all documents necessary to complete the purchase of the Property. NOW, THEREFORE, BE IT RESOLVED that Anne L. Norris, Executive Director of the EDA, is hereby authorized to execute any and all documents necessary to complete the EDA's purchase of the Property. BE IT FURTHER RESOLVED that Patrick A. Peters, Deputy Executive Director of the EDA, is hereby authorized to act in place of the Executive Director in the event of the absence or unavailability of the Executive Director. Adopted this day of Mark G. Hoffmann, President Anne L. Norris, Executive Director h m W