Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Lots Transfer topic
No spam. Unsubscribe anytime.
EDA approves transferring Forks Home Builders lot into North Star Community land package
Summary
The East Grand Forks Economic Development Authority voted to allow a Forks Home Builders lot to be included in a pledged purchase package with North Star Community Land Trust, with staff to complete deed and mortgage release steps required for transfer.
The East Grand Forks City Economic Development Authority on Feb. 26 approved allowing a lot currently tied to Forks Home Builders to become part of a pledged purchase package being assembled by North Star Community Land Trust.
The motion, made during discussion of the Water’s Edge neighborhood lots, directs staff to facilitate a transfer so the community land trust can hold one additional lot with a $1,000 deposit while the parties finalize title and mortgage releases. The board approved the motion by roll call.
Why it matters: North Star is purchasing four lots in Water’s Edge and asked to add a fifth parcel currently shown in Forks Home Builders’ name. Approving the transfer avoids an immediate buyback by the city and the potential additional realtor fees that would result from a resale, and it keeps the parcels in play for future housing development.
Board members and staff described a practical path forward: Forks Home Builders will release the lot, the city will accept the deed (via a quick claim if needed) and then transfer it to the land trust under the existing agreement that governs the other lots. City staff said the change should not generate additional city expenses if handled as a transfer rather than a repurchase. The land trust proposed a $1,000 holding deposit on the lot and indicated it would either proceed with development in a few years or release the lot if another buyer surfaces.
City staff stressed procedural steps that must occur before closing: releasing the city mortgage recorded against the lot, completing a deed transfer, and amending the existing agreement with North Star Community Land Trust to include the additional parcel. The board discussed whether the transfer should come to the EDA for formal approval; members agreed the organization’s standard practices permit facilitating transfers in this manner.
No new obligations for city financing were approved. Board members framed the move as a way to keep housing activity moving and to avoid the costs and delays associated with re-listing and re-selling the parcel.
The board’s motion passed by roll call with all members present voting in favor. The EDA directed staff to negotiate the mechanics of the transfer and return any required documents as needed.
The EDA discussed related next steps informally after the vote, including finalizing the deed and updating the written agreement with the land trust so the new lot is covered by the same purchase and development conditions as the four lots North Star already has under contract.
