Public Hearing: Authorizing Sale of Land to Amundson Flats, LP and Approve Redevelopment Agreement

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On July 25, 2019 the HRA authorized Staff to engage our legal consultant to draft legal documents so the HRA could acquire 7075-7079 Amundson Avenue from the Edina Housing Foundation for $1,300,000 and sell to MWF Properties for $600,000.

Since that time, MWF has secured financing and site plan approval to complete this development. Rather than conveying the property to MWF Properties, the site will be conveyed to Amundson Flats, LP, of which MWF is a member of the General Partnership.

The Redevelopment Agreement spells out the requirements that the land will be developed into 62 units of affordable housing that will remain affordable for 40 years.

More information on this item can be found on the HRA meeting agenda here. This item will be considered at the HRA's June 11, 7:30am meeting. Comments will be collected on-line until Wednesday, June 10 at noon.

On July 25, 2019 the HRA authorized Staff to engage our legal consultant to draft legal documents so the HRA could acquire 7075-7079 Amundson Avenue from the Edina Housing Foundation for $1,300,000 and sell to MWF Properties for $600,000.

Since that time, MWF has secured financing and site plan approval to complete this development. Rather than conveying the property to MWF Properties, the site will be conveyed to Amundson Flats, LP, of which MWF is a member of the General Partnership.

The Redevelopment Agreement spells out the requirements that the land will be developed into 62 units of affordable housing that will remain affordable for 40 years.

More information on this item can be found on the HRA meeting agenda here. This item will be considered at the HRA's June 11, 7:30am meeting. Comments will be collected on-line until Wednesday, June 10 at noon.

Comments

All comments are reviewed by the governing body to gain insight into community perspective and values. This information in addition to other factors like legal requirements, infrastructure needs, long-term strategy, cost, etc help inform the decision. The feedback collected is not considered a "vote". 

Everyone has the right to share their opinions and comments on the related project. While individuals may have varying opinions, respect each person's experience and insight.

Comments are considered part of the public record. When making a comment:

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CLOSED: This item is on the June 11th HRA agenda.

Emily Boettge, 6816 Oaklawn Ave. Edina, MN 55435I am writing to support Resolution No. 2020-03, and the approval of the Revolving Loan and Grant to Expand Land Trust Program. I am in support of both the sale of land to Amundson Flats, LP and the approval of the redevelopment agreement. This project proposes 62 units of affordable housing in the Cahill area and I believe this is a good step toward achieving the goals of increasing affordable rental housing in Edina.I also support expanding the Homes Within Reach program. This project is important for several reasons. One, it will be a small step toward increasing affordable home ownership. Two, it will help to save at least a few of the existing affordable homes in our community from teardown. Three, these homes will remain affordable for many years. Both of these projects are important to create multiple types of affordable housing and are in line with the city’s goal to increase affordable housing in many types and categories.

Emily B 6 months ago

Hope Melton4825 Valley View RoadEdina, MN 55424REVOLVING LOAN PROGRAMIt's been very difficult to create affordable housing single family home ownership in Edina because of high land costs. As a result the City has been unable to save many of its existing affordable homes from the teardown/rebuild phenomenon. This program, executed in collaboration with WHAHLT and Homes Within Reach, will enable us to save a few of those homes and keep them affordable for many years. It's an important step towards the City's goal of creating affordable housing for a broad range of household types and affordability categories..

Hope Melton 6 months ago

Hope Melton4825 Valley View RoadEdina 55424The Amundson Flats project, with 62 affordable workforce units located fairly close to the Southdale area, is important to Edina businesses. I will also support the Cahill business district with residential households and customers. Its long term affordability is also important to promote stability not only for the people living their but also for the adjacent neighborhoods.

Hope Melton 6 months ago