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Eagan adopts ordinance establishing Widgeon Woods Housing Improvement Area; fees, financing spelled out
Summary
The council adopted an ordinance and resolution to establish the Townhomes of Widgeon Woods Housing Improvement Area (HIA) and to impose a housing-improvement fee; the 33-unit association may prepay costs to avoid bond interest and will face a 45-day veto period under state law.
The Eagan City Council on March 4 closed the public hearing and adopted an ordinance establishing the Townhomes of Widgeon Woods Housing Improvement Area and a companion resolution imposing a housing-improvement fee on units within the area.
Community Development Director Hutmacher explained that housing improvement areas (HIAs) are a financing mechanism governed by Minnesota statute that allow townhome and condominium associations to use an owner-imposed special taxing district to fund common-area work when private lenders are unwilling or unable to provide permanent financing. The Townhomes of Widgeon Woods is a 33-unit development on Widgeon Way; the…
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