The Coon Rapids Housing and Redevelopment Authority (HRA) has sold another single-family lot it acquired through the scattered sites acquisition program.
Back in 2001, the HRA, which comprises the seven members of the Coon Rapids City Council, purchased property at 2308 Main St., demolished the house on the lot and divided the property into two lots, according to Community Development Specialist Matt Brown.
One of those lots, now with the address 12490 Thrush St. N.W. abutting Main Street, was the subject of the sale approved by the HRA Nov. 7, Brown wrote in a report to the HRA.
The lot with the address 12470 Thrush St. N.W. is larger and abuts 124th Lane, he wrote.
It was sold in 2002 for $60,000 for the construction of a new house, Brown stated in his report.
The lot at 12490 Thrush was sold by the HRA Nov. 7 to Novack-Fleck Builders for $30,000, which reflects current market value, according to Brown.
“The buyer proposes to construct a house that meets the HRA’s established design criteria,” Brown wrote in his report.
“Staff feel that the design is compatible with surrounding houses.”
As part of its action, the HRA approved a purchase and redevelopment agreement.
Under the agreement, Novack-Fleck must build the proposed house by Aug. 31, 2013 and return the title of the property to the HRA is it fails to do so.
The HRA action also included execution of a quit claim deed for a permanent easement at the request of Anoka County for the noise wall barrier constructed as part of the Main Street reconstruction project in 2011, sloping, bikeway, walkway and utility purposes.
Through its scattered sites acquisition program, the HRA purchases and demolishes blighted or substandard homes, in most cases foreclosed, and replaces them with higher quality houses.
Staff can negotiate the purchase of properties meeting certain criteria without coming to the HRA for approval.
• The purchase price is not more than $70,000.
• The properties are blighted and in substandard condition and the cost of fixing deficiencies exceeds the value of the property.
• Prior to the acquisition of each property, staff will conduct due diligence to protect the HRA’s interests.
Peter Bodley is at [email protected]