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Housing &RedevelopmentAuthority Of AA Pequot Lakes �C West Grove Toumhomes•Sibley Terrace•Parkview I&II•AlpineApts. February 23, 2007 TO: Mayor Cathy Malecha City Council Members Clerk Sandy Peine RE: Lots 1, 2, 3 Block 1 Buschmann Addition The Housing Authority would like to inform the Pequot Lakes City Council of the impending transfer of property. The HRA is owner of the former Lots 21 —24 Biggs Addition (Buschmann property) located at 30949 S. Oak St. The property was purchased with funding from Region 5,with the intent of building three homes through the ICWC Program. Region 5 opted to end their participation in this state- funded program. In consideration of the mission of the HRA, the Board of Commissioners continued to investigate programs that would provide the City with affordable homes on this property. Lakes Area Habitat for Humanity had expressed an interest in this property. It has been very difficult for this non-profit organization to find affordable property within the City. They had always hoped to build some Habitat homes within Pequot Lakes, for families desiring to live in our community. On Monday, February 26, 2007, 9:00 am, the Housing and Redevelopment Authority will hold a Public Hearing for the sale of the property to Habitat. The pending closing is tentatively scheduled for the next day, February 27, 2007. The Pequot Lakes HRA wishes to express their appreciation to the City, for their continued support and commitment to providing affordable housing. Your specific support for the redevelopment of this property has been crucial in helping the HRA achieve their goals. Please feel free to contact me or any HRA Board Commissioner with any questions you may have. Once again,we thank you for assisting in this project. o � tri haro glow Executive Director 31203 N.Oak St.P.O.Box 243•Pequot Lakes,MN56472.218-568-4555.218-568-8968(Fax) -pequotlakes govoffice.com