HRA Meeting Date: December 5, 2024
To: Members of the Housing and Redevelopment Authority
From: Melissa Hanson, Housing Coordinator
Title
HRA to Receive Update on HRA Resolution 2024-005.
Body
Action Requested:
HRA to receive proposal update by Oberto Properties, LLC and Rice County Habitat for Humanity and consider the sale of the property.
Summary Report:
The HRA's mission is to be a partner in providing a sufficient supply of affordable, adequate, safe and sanitary dwellings in Northfield. Our goal is to create a community with housing opportunities available along the entire housing spectrum: from renters to homeownership, first-time homeowners, to senior living, workforce housing and empty-nesters. We strive to create affordable housing opportunities and strengthen our neighborhoods utilizing:
* Sustainability
* Innovation
* Partnerships
* Community Input
Oberto Properties, LLC (Oberto) is a small, real estate developer that resides in, and is a part of, Northfield. Oberto has a history of purchasing blighted, unused commercial spaces and rehabbing them as well as having experience with commercial new construction, having built the Rebound Self Storage.
Rice County Habitat for Humanity (Habitat) is a nonprofit organization dedicated to building a world where everyone has a safe, stable, and affordable place to call home. Habitat believes that affordable housing plays a critical role in strong and stable communities. Habitat has a long history of providing affordable housing, through both rehab and new construction, in Rice County and has recently expanded their rehab arm by adding Starfish, a newly established Northfield non-profit, under their umbrella of programs.
The HRA approved Attachment 1 Resolution 2024-005, Authorizing Designation of Tentative Developer Status for Oberto and Habitat for a period of 180 days. Within the time frame, the Tentative Developer will complete the following:
1. Within 90 days (December 18, 2024), for the Project,...
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