CR 08-107 Sale of 13 and 15 Harrison Ave to Twin Cities Habitat for Humanity and the designation of the Use of Proceeds•
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December 2, 2008 OPKIN Council Report 2008 -107
SALE OF 13 AND 15 HARRISON AVE TO TWIN CITIES HABITAT FOR HUMANITY
AND THE DESIGNATION OF THE USE OF PROCEEDS
Proposed Action
Staff recommends approval of the following motion: adopt Resolution 2008 -065 to sell 13 and
15 Harrison Ave to Twin Cities Habitat for Humanity ( TCHFH) for $140,000 and designate
those proceeds to the Hopkins Center for the Arts.
Overview
The City of Hopkins purchased the property that is now 13 and 15 Harrison Ave after the
Excelsior Blvd expansion took place in 2006. The property was then replatted as two single -
family lots. The City hired a Realtor to post the lots for sale in 2007, and by late 2007 TCHFH
had met with City staff and indicated interest in the lots.
After meetings with City staff and City Council, a purchase price of $75,000 per lot was
proposed. A public meeting was held, and the City of Hopkins approved TCHFH's proposal
and signed a Memorandum of Understanding (MOU) contingent on TCHFH receiving HOME
funds from Hennepin County. TCHFH was unable to secure the HOME funding, voiding the
terms of the MOU, but they continued to seek other sources of funding. Some funding was
acquired through the Minnesota Housing Finance Agency's LAAND program, and TCHFH
returned to the City of Hopkins in June with an offer of $70,000 per lot. Informal discussions
with City Council indicated that this offer was acceptable, and a purchase agreement was signed
in September 2008.
Before closing on the properties a resolution approving the revised sale price of $140,000 for
both lots is required. Several options for the use of the net proceeds were explored and a
recommendation was made to use the funds for the Hopkins Center for the Arts.
Supporting Information
• Resolution 2008 -065
Tara Beard
Community Development Coordinator
Financial Impact: $ 0 Budgeted: Y/N Source:
Related Documents (CIP, ERP, etc.):
Notes:
CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2008 -065
RESOLUTION APPROVING THE SALE OF 13 AND 15 HARRISON AVE TO TWIN
CITIES HABITAT FOR HUMANITY FOR $140,000 AND THE DESIGNATION OF
THE NET PROCEEDS
WHEREAS Twin Cities Habitat for Humanity, Inc. ( TCHFH) proposes to purchase two
lots on Harrison Avenue South from the City of Hopkins for $140,000;
WHEREAS TCHFH has hosted a public meeting at the City of Hopkins City Hall at
which members of the neighborhood supported the proposal;
WHEREAS the City of Hopkins City Council supports this proposal to add to the
housing stock of Hopkins; and,
WHEREAS, the Hopkins City Charter requires the City Council to designate by
resolution the use of the proceeds from such sales.
NOW, THEREFORE, it is hereby resolved by the City Council of the City of Hopkins as
follows: the sale of 13 and 15 Harrison Ave for $140,000 is acceptable and
the proceeds from the sale of these properties shall be used to retire the debt
of Hopkins Center for the Arts.
Adopted this 2nd day of December 2008.
S
Eugene J. Maxwell, Mayor
Attest:
Terry Obermaier, City Clerk