Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing topic
No spam. Unsubscribe anytime.
Pine County HRA reports positive operating results for county-owned housing properties
Summary
Pine County HRA/EDA reported combined net income of roughly $136,000 for Sandstone Manor and Mendelson Manor through November 2025 and modest net income for recently purchased North Court; the HRA reported $573,000 in investments.
The Pine County Housing and Redevelopment Authority and Economic Development Authority provided a financial update in which Sandstone Manor and Mendelson Manor reported combined gross receipts of about $331,787 through November 2025 and total expenses of about $195,000, leaving roughly $136,000 in net income between the two properties. The recently acquired North Court produced modest positive cash flow — staff cited about $10,000 net income through November 2025 after expenses and loan costs.
HRA staff told the board the authority has roughly $573,000 in investments set aside and that they are actively managing operations and housing-related programs with state funds. Commissioners noted steady performance and asked staff to continue monitoring loan and operational metrics.
"So those that just kinda shows how those things are running," a commissioner said, summarizing the update and commending staff for positive management of the properties.
