City Council Meeting Date: April 2, 2024
To: Honorable Mayor and City Councilors
From: Melissa Hanson, Housing Coordinator
Jake Reilly, Community Development Director
Title
Northcountry Cooperative Foundation (NCF) Update and Request.
Body
Action Requested:
The City Council will hear an update from Northcountry Cooperative Foundation's (NCF) on activities related to the existing Memorandum of Understanding (MOU) and NCF's request for an amendment to extend the due diligence period for a period of at least six (6) months.
Summary Report:
This agenda item has been included at the request of Mayor Pownell. The following background information is provided related to this request. Staff will provide a overview of the background information in this memo that is also provided to the HRA. They are scheduled to discuss this item at their next regular meeting on April 4th. Staff can entertain questions and comments of the Mayor or City Councilors. Questions, feedback or action of the Council would be provided by staff to the HRA for their board meeting.
Background information From HRA Memo
On November 2, 2023, the Northfield Housing and Redevelopment Authority (HRA) and NCF entered into a memorandum of understanding outlining the roles and responsibilities offered and assigned to NCF in its pursuit of a potential subdivision of the remaining HRA-owned undeveloped land in the Southbridge area. The MOU offered NCF a six-month due-diligence period to explore the financial and physical feasibility of said subdivision. The six-month period is nearing a close and NCF approached the HRA to provide an update and ask for an extension.
Table 1 shows the expectations of NCF as stated in the MOU and the status of those expectations. Sections of the MOU not directly relevant to NCF's work are not included in the table.
Table 1: Expectations stated in MOU
Background
The HRA owns approximately 7.27 acres of undeveloped land in the Southbridge area near Spring C...
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