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La Crosse approves purchases and buyer selection for replacement housing program
Summary
The commission approved using CDBG funds to buy a fire-damaged house at 2156 Market St. and selected a buyer for 516 Caledonia Street after an initial tie vote; staff said the purchases remove blight and prioritize returning housing to the market.
City staff briefed the Economic and Community Development Commission on two replacement-housing actions and the commission approved both items following discussion.
For 2156 Market Street, staff said a family suffered a severe fire earlier in the year and the building is condemned. The realtor told staff the family was asking $90,000 and staff requested authority to use up to $100,000 in CDBG funds to acquire the parcel. Mister Denson said the property would be demolished quickly to remove a neighborhood eyesore and the parcel would either become a city replacement-housing site or be offered to a private developer. “This family suffered a pretty extensive fire… the house is a loss. It does need to be… condemned, so it does need to be demolished,” Denson said. The commission voted to approve the purchase unanimously.
On 516 Caledonia Street, staff presented two offers: one at full asking price and one $10,000 lower. HUD front-end ratio checks for mortgage qualification were part of the staff review (one applicant at about 27% front-end ratio, the other around 31%). Commissioners discussed applicant persistence and comparables’ effect on neighborhood pricing. The commission first considered offer number 2; the initial vote was a tie and thus failed. The commission then voted to accept offer number 1; that motion carried by voice vote and was recorded as unanimous.
Staff said the replacement program aims to return properties to owner-occupied, single-family residence where possible, and that selected buyers will receive forgivable second mortgages or HOME-funded assistance as applicable.
