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Council okays one-year extension to Haven Homes’ option to buy land in TID 9 for $4,333
Summary
The Common Council approved a one-year extension of an option to purchase land in TID 9 with Haven Homes Development LLC; the developer will pay $4,333 as an option payment, credited at closing, and the original option’s other terms remain in force.
The Common Council of the City of Monroe voted to extend an option to purchase property in Tax Incremental District 9 for one year after a motion from the finance and taxation committee.
A staff member told the council the extension agreement, entered May 18, 2026, is between the city and Haven Homes Development LLC and continues the parties’ original option (dated Dec. 4, 2023, and recorded Dec. 20, 2023). Under the agreed extension, the purchaser will make an additional option payment of $4,333 upon execution; that payment will extend the option period by one year and will be credited toward the purchase price at closing. The original option’s terms not revised in the extension remain in effect.
The motion to approve the agreement was seconded and carried on a roll call vote with all present voting Aye. The council recorded no amendments and did not specify closing dates or revised deadlines beyond the extended option term.
