HRA Meeting Date: July 6, 2023
To: Members of the Housing and Redevelopment Authority
From: Melissa Hanson, Housing Coordinator
Title
HRA to Consider Northcountry Cooperative Foundation’s Request to Enter into an Exclusive, Non-Binding Contract.
Body
Action Requested:
No action is being requested at this time. This is an informational item.
Summary Report:
Northcountry Cooperative Foundation (NCF) has presented to the HRA at the May 4, 2023 meeting, the concept of developing a cooperative community using 7.27 acres owned by the HRA and approximately 4 acres owned by the City at Southbridge.
NCF is requesting that the HRA enter into an exclusive, non-binding contract affording NCF the ability to determine, at its own expense, the feasibility of developing the Property for the proposed cooperative neighborhood. Staff is reviewing the draft agreement with the city attorney.
NCF was notified on May 9, 2023 that their application to the Enterprise Wells Fargo Housing Affordability Breakthrough Challenge (Att. 1) has advanced to the Round 2 application process. Enterprise received and reviewed 429 proposals representing communities across the country. This proposal was one of 42 notable ideas that rose to the top and invited to advance to Round 2. Round 2 applications were submitted on June 9, 2023. NCF anticipates that they will be notified by November 1, 2023 of the status of Round 2 applications.
Staff is providing this information to the HRA board as part of a broader discussion regarding the merits of the project being proposed. Staff is not recommending action at this time. This will be brought forward when the city attorney has had time and opportunity to weight in.
Alternative Options:
N/A
Financial Impacts:
N/A
Tentative Timelines:
This will be brought forward again in August.