Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Land Use topic
No spam. Unsubscribe anytime.
Hubbard County HRA/EDA sets $10,000 minimum for Farden housing lots, schedules public hearing
Summary
The HRA/EDA set a minimum bid of $10,000 per lot (with 20% earnest money) for seven lots in the Farden/County Line Estates preliminary plat, authorized public offering once final plat recorded and scheduled a public hearing for Sept. 16 at 11:30 a.m.
The Hubbard County HRA/EDA approved terms for offering seven lots in the Farden/County Line Estates development and scheduled a public hearing to consider sale approvals.
Staff told the board the final plat approval by the planning commission is expected in August and that sales cannot occur until the final plat is recorded. The board approved establishing a minimum bid of $10,000 per lot and an earnest-money requirement of 20% of the accepted bid. Staff said the lots will be offered publicly for a two-week period; unsold lots would then be sold over the counter at or above the minimum price.
Conditions of sale approved by the board require buyers to execute a purchase agreement, begin construction within one year and complete construction within two years, and build a home of at least 960 square feet. Staff said the lots will be served by private well and septic systems; the HRA intends these lots to promote workforce-appropriate single-family housing. The board discussed market dynamics: staff noted typical market value for a five-acre lot in the area could be about $45,000, and the reduced minimum is intended to make home construction and final home prices more attainable for local buyers or builders.
Board members asked about remedies if buyers default on conditions. Staff replied the purchase agreement includes default remedies and the county attorney reviewed the documents. The board also authorized staff to offer the lots administratively once the final plat is recorded. A motion to set the minimum price and earnest-money percentage and to set a public hearing date of Sept. 16 at 11:30 a.m. during the HRA meeting was made and approved by voice vote.
Board members said the HRA may learn from the first seven-lot offering and adjust terms for the adjacent 40-acre parcel, which staff said could be offered later under different terms requiring development responsibility by the buyer.
