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AGENDA ITEM #10.2 <br /> City of <br /> Pequot <br /> Lakes=_- <br /> REPORT TO CITY COUNCIL <br /> Report Prepared by: Rich Spiczka <br /> Date: January 3rd, 2023 <br /> Subject: Housing Projects Update <br /> Report: <br /> New home construction in Trailside Estates will begin in Spring. Staff looking for <br /> council recommendation on lot sale structure. Staff is recommending selling a <br /> block of 3-5 lots at a time to the developer. This allows the City to maintain <br /> control of the process to assure acceptable development and standards. <br /> Corner Lot Development has agreed in principle to purchase 4 acres at a price of <br /> $40,000/acre in the HOTGL Residential zone for the construction of an apartment <br /> complex. Staff is looking for council consensus to finalize the purchase agreement <br /> and execute the sale at the forementioned price. <br /> Council Action Requested: Council action as stated above. <br />