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Hillman to draft refundable down-payment agreement with Habitat for Humanity for Pine Street lots
Summary
Council agreed to draft an agreement letting Habitat for Humanity pay half now and the remainder after homes are built, with a contingency to refund the money and revert the property to the village if a home is not constructed.
Manager Dave Post told the council that Habitat for Humanity proposed using assessed values for Pine Street lots and asked to pay half of the purchase price up front and the remainder when homes are completed. The council agreed to draft an agreement that would make the initial payment refundable and return the property to the village if a home is not built.
Post said he would contact the village attorney to prepare the contingency agreement. No formal vote or contractual terms were finalized at the meeting; council direction was to develop a written agreement with a refund provision and reversion clause.
