HRA Meeting Date: February 6, 2025
To: Members of the Housing and Redevelopment Authority
From: Jake Reilly, Community Development Director
Melissa Hanson, Housing Coordinator
Title
Discussion Regarding Request by Rice County Habitat for Humanity to Purchase and Move Property at 511-515 Kraewood Drive
Body
Action Requested:
HRA to consider a request by Rice County Habitat for Humanity for financial assistance to purchase and move property at 511-515 Kraewood Drive.
Summary Report:
Rice County Habitat for Humanity (RCHFH) is seeking financial assistance to purchase and move the house at 511-515 Kraewood Drive, with the intent to rehabilitate the one-bedroom home into a four-bedroom home, to be sold to a qualified purchaser following rehabilitation. The house would be moved to 621 Highland Ave. W., which is around the corner in the Kraewood subdivision (PID 2236156017).
The applicant has provided information regarding the property (Attachment 1), including the cost of moving and rehabilitating it, and a request for:
* $43,900 as a grant to facilitate the purchase, move, and rehabilitation of the home; and
* $25,000 in down-payment assistance.
RCHFH staff and Steve Schmidt of Schmidt Homes, who is building homes on the single-family lots in the Kraewood subdivision, have had preliminary conversations with HRA and Planning staff of the Community Development Department regarding the feasibility of this approach.
Staff recommend that the HRA Board consider the two requests separately, as follows:
a. A request for financial assistance in the amount of $45,000 to be provided as a grant to RCHFH to move the home from 515 Kraewood Drive to 621 Highland Ave. W.
b. After the home is prepared for sale and a potential buyer identified, take up a separate request for down-payment assistance, if needed.
History/Background
The Kraewood subdivision is a mixed-income, mixed-housing-type development. A multi-family, mixed-income building is located on the nort...
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