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Council approves tentative purchase agreement tied to $2 million RISE grant for 100 acres for workforce housing
Summary
The council approved a resolution authorizing a purchase agreement with 4 Camp LLC for about 100 acres east of Delaney Subdivision to support workforce housing under a $2 million RISE grant; the purchase is contingent on getting the grant and the city providing a 25% match of project costs.
City attorney Beard told the council the city received approval for a $2,000,000 RISE grant intended to help purchase roughly 100 acres east of Delaney Subdivision (off Massey Lane) as a site for workforce housing. The owner has agreed to a tentative purchase contract at $22,222 per acre; council approved a resolution authorizing the agreement so staff can obtain the grant rules and proceed with formal application steps.
Beard warned the purchase is contingent on several conditions: receiving the $2,000,000 in grant funding and approval of the state's grant agreement, which would require the city to provide 25% of the overall project cost as a local match. Beard and other speakers said that developer participation and other entities may contribute to the required match. Council members noted the timing is unusual because the state requires a tentative purchase contract before it releases the grant rules; staff described the project as likely long-term with closing potentially late next year.
The resolution approving the agreement with 4 Camp LLC passed on roll call. Council members said the 100-acre site is intended for workforce housing development, and staff will return with grant documents and additional details needed to finalize the acquisition.
