Land bank approves sale of four Sedderwood lots to CNC Homes LLC for $12,500
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Summary
The land bank approved Resolution 14-2025 to sell Lot 15, Block 8, and Lots 23–26, Block 5, in the Sedderwood Subdivision to CNC Homes LLC under a $12,500 standard contractor offer; the approval followed a brief meeting that also ratified previous meeting minutes and adjourned.
The land bank approved Resolution 14-2025 to sell Lot 15, Block 8, and Lots 23 through 26, Block 5, in the Sedderwood Subdivision to CNC Homes LLC for a $12,500 standard contractor offer.
The decision came during a short land bank meeting that began with a motion to approve the land bank minutes as written; the motion was seconded and approved by voice vote. After the minutes were approved, a member introduced Resolution 14-2025 and asked that the land bank approve the offer from CNC Homes LLC for the specified lots. That motion was seconded and approved by voice vote. The meeting concluded after members moved to adjourn.
There was no substantive discussion recorded in the transcript about the sale’s conditions, development plans, or use of proceeds. Motions and approvals were handled by voice vote; the transcript records “aye” responses and the chair saying “motion carries,” but it does not record individual member names or a numeric roll-call tally.
The transcript identifies the offer as a “standard offer for contractors” and lists the lots and the $12,500 amount. The land bank did not state any implementation timeline, contingencies, or next administrative steps in the recorded remarks.
No public comment, debate over the sale, or requests for additional information appear in the provided transcript.