Developer proposes two‑home pilot using LMI set‑aside on 3rd Ave lot; council asks for numbers
A builder representative said a lot is under contract for $95,000 and proposed splitting it to build two moderate starter homes and asked the city to consider using low‑to‑moderate‑income (LMI) set‑aside funds to reduce lot costs; council asked for detailed due diligence and legal guidance before committing funds.
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Roger Wheeler, a realtor representing Homes by Advantage, told the council his builder has the lot on 3rd Avenue under contract for $95,000 and would like to split it and build two moderate single‑family homes to serve as entry‑level housing for Slater. “We have it under contract right now for $95,000,” Wheeler said, and described typical new‑build prices in the market and why the current lot price makes single‑home construction infeasible without subsidy or a lower lot cost.
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