1 00:00:00,000 --> 00:00:08,880 12:00, let's call the Economic Development Authority regular meeting 2 00:00:04,880 --> 00:00:12,880 to order, please, for August 26, 2026. Please call roll. 3 00:00:11,240 --> 00:00:16,120 » Here. Here. 4 00:00:14,240 --> 00:00:18,480 » Here. >> Yes. 5 00:00:17,280 --> 00:00:21,800 » Here. >> Here. 6 00:00:19,480 --> 00:00:21,800 » Here. 7 00:00:22,880 --> 00:00:31,600 » All right, approve minutes from regular meeting 5 27 26. 8 00:00:30,000 --> 00:00:34,400 » I'll move. >> Second. 9 00:00:32,720 --> 00:00:38,520 » All in favor? >> Aye. 10 00:00:35,360 --> 00:00:44,040 » All opposed, same sign. All right, bills and communication. 11 00:00:42,160 --> 00:00:48,120 Any questions? You have to wait till we see Carla. 12 00:00:45,120 --> 00:00:48,120 » She's out today. 13 00:00:50,720 --> 00:00:59,160 » Any questions, comments, concerns? Nope, moving on. 14 00:00:57,360 --> 00:01:03,120 Delinquencies. She loves this part. 15 00:01:00,480 --> 00:01:03,120 » There's none. 16 00:01:03,680 --> 00:01:07,000 » Director's report. 17 00:01:07,480 --> 00:01:13,080 » So, in the past couple months that we've been in doing summer, it's been very 18 00:01:11,040 --> 00:01:17,560 busy here. People have been building houses and starting businesses and 19 00:01:15,440 --> 00:01:21,520 taking out permits to do construction and rehab on their commercial buildings. 20 00:01:19,640 --> 00:01:25,560 There's been a lot of business visits. We've been taking advantage of the good 21 00:01:23,160 --> 00:01:29,520 weather to go out and walk to visit different businesses and tell them about 22 00:01:27,120 --> 00:01:33,880 our microloan program and ask how things are going. And it's been very positive 23 00:01:32,000 --> 00:01:39,160 sentiments, which is awesome. I'm hearing that people are remaining stable 24 00:01:36,160 --> 00:01:42,720 in their operations and staffing and some slight increases in terms of 25 00:01:41,000 --> 00:01:46,000 staffing levels. And people are adding different product lines. At the same 26 00:01:44,600 --> 00:01:49,760 point, too, we're also working on kind of fielding those requests and questions 27 00:01:48,520 --> 00:01:53,280 that are coming from the Simplot redevelopment project. So, as you can 28 00:01:51,880 --> 00:01:57,480 see, there's been a lot going on. And then also the preparation for the fall 29 00:01:55,080 --> 00:02:02,160 North End Valley Career Expo is well underway, so 30 00:01:59,600 --> 00:02:05,800 all the good stuff. >> I like the highlight of like the fire 31 00:02:04,040 --> 00:02:09,280 chief that retired and things like that. You've done a number of articles on 32 00:02:07,280 --> 00:02:12,440 individual people. Actually really like seeing those as well. They're They're 33 00:02:10,759 --> 00:02:15,720 good. They're good community members. >> Yes, that was Brenda's idea. I was going 34 00:02:13,959 --> 00:02:19,880 to mention it later, but we've had like some low participation 35 00:02:17,920 --> 00:02:23,800 during the summer from businesses. So, she's gone ahead and like filled in 36 00:02:21,360 --> 00:02:27,040 relevant people from the city and like real estate and they've performed very 37 00:02:25,520 --> 00:02:31,640 well. So, it's also valuable for our communities 38 00:02:28,640 --> 00:02:35,040 appearance to like external entities and our spending for consumers and just 39 00:02:33,400 --> 00:02:38,080 quality of life. So, yeah. >> Yes. 40 00:02:35,600 --> 00:02:42,160 » I agree. >> All right. 41 00:02:39,520 --> 00:02:45,520 I'm going to skip over here. Financial reports are 42 00:02:43,880 --> 00:02:46,959 » Unless there's anything we need to like make a note of. 43 00:02:46,280 --> 00:02:50,000 » anything. >> Me neither. 44 00:02:48,440 --> 00:02:53,520 » Okay. Social media report. 45 00:02:51,520 --> 00:02:56,800 » Okay, well timed. So, this 46 00:02:55,080 --> 00:03:01,880 report covers the last three months of combined metrics. So, you get to see the 47 00:02:59,200 --> 00:03:05,959 top posts from the last three months and they do actually include some of the 48 00:03:03,160 --> 00:03:09,519 city staff. Um let's see here. 49 00:03:07,800 --> 00:03:13,519 And this has taken up a good portion of Brenda's time to go out and you know, 50 00:03:12,120 --> 00:03:17,239 schedule the appointments to talk with the businesses, get the right person, do 51 00:03:15,480 --> 00:03:21,720 the interviews and then the photos and the write-ups, but it's very valuable. 52 00:03:19,280 --> 00:03:25,160 The newspaper still pulls it and posts it in there. They've had a little bit of 53 00:03:23,320 --> 00:03:28,080 staffing change, so it's I think they're going to be on a different page than 54 00:03:26,160 --> 00:03:31,959 what it usually is, but it's still a valuable content piece that 55 00:03:30,280 --> 00:03:36,840 we add. Any questions on that? 56 00:03:34,320 --> 00:03:42,160 » Any questions? All right. Unfinished business. Residential tax 57 00:03:39,760 --> 00:03:48,040 abatement program renewal update. >> Okay. We talked about this back in 58 00:03:46,239 --> 00:03:52,600 I think May and there was an interest in moving 59 00:03:50,519 --> 00:03:57,200 forward with renewing the program. Luckily, the school district has theirs 60 00:03:54,280 --> 00:04:00,280 already in place until 2031. So, this was a matter of just seeing if the 61 00:03:58,520 --> 00:04:06,040 county wanted to renew it, and they agreed to 62 00:04:02,200 --> 00:04:10,120 renew the program until 2029. So, at that point, houses that are newly 63 00:04:08,959 --> 00:04:14,360 built no later than January 31st, 2029 would 64 00:04:13,000 --> 00:04:19,239 be eligible for the program. And sometimes it takes 2 to 4 years for them 65 00:04:16,359 --> 00:04:24,800 to get up to full value. So, it's possible that they could request the 66 00:04:21,120 --> 00:04:28,000 rebate as late as 2031, 2033, somewhere in between there. 67 00:04:26,280 --> 00:04:31,880 So, that is the installment on that. And 68 00:04:29,600 --> 00:04:36,440 then the next step for this process, if this was a recommended to continue, I 69 00:04:33,960 --> 00:04:41,480 would take it to city council, the work session. They would mull over the 70 00:04:38,720 --> 00:04:45,080 request, and then it would go to um a regular council meeting with a 71 00:04:43,360 --> 00:04:48,680 public hearing since it involves city dollars from the general fund. 72 00:04:50,800 --> 00:04:57,040 » I'll move to make recommendation to continue. 73 00:04:54,880 --> 00:04:59,120 » I'll second. >> All in favor. 74 00:04:58,800 --> 00:05:00,040 » Aye. >> Aye. 75 00:04:59,640 --> 00:05:03,400 » Aye. >> All opposed, same sign. 76 00:05:03,440 --> 00:05:12,360 Excellent. Simplot request for proposal updates. 77 00:05:08,400 --> 00:05:15,840 » So, our last day for the RP process is Monday next week. So, we're getting 78 00:05:14,080 --> 00:05:21,120 really excited about what could be potentially coming into our offices in 79 00:05:17,560 --> 00:05:24,760 terms of designs and proposals for that 10 acres of land that we have sitting 80 00:05:22,560 --> 00:05:28,560 over there that's been vacant. And I've had a ton of great 81 00:05:25,840 --> 00:05:33,040 conversations and phone calls and emails. I've reached out to 34 different 82 00:05:31,640 --> 00:05:37,680 business and construction companies directly with requests of, "Hey, please 83 00:05:35,240 --> 00:05:40,880 consider community." And one of them led to somebody saying, "Hey, while we can't 84 00:05:39,040 --> 00:05:43,760 do it this time, we'll consider your community for other options in the 85 00:05:42,120 --> 00:05:49,080 future." Which is good cuz they've worked with us in the past. It's listed 86 00:05:46,280 --> 00:05:53,320 on the commercial real estate index that Crexi 87 00:05:50,800 --> 00:05:57,240 RFP database.com. Deed was very helpful in helping us get 88 00:05:55,080 --> 00:06:01,600 it onto GovDelivery, so it's on there. League of Minnesota Cities social media, 89 00:05:59,880 --> 00:06:05,320 and then we are able to post it on our billboards. So, 90 00:06:03,760 --> 00:06:08,560 I'm not sure what to anticipate. There's been a lot of good excitement and 91 00:06:06,600 --> 00:06:12,480 interest. We did a webinar, and we had some attendees for that, and 92 00:06:10,160 --> 00:06:17,840 we had an on-site tour, and we had some We had a person attend as well, so 93 00:06:15,320 --> 00:06:20,720 Hard to know, but exciting times. >> Yeah. 94 00:06:18,760 --> 00:06:24,720 Next slide. All right, new business. 95 00:06:22,880 --> 00:06:27,000 Infill lease renewal. >> Mhm. 96 00:06:25,800 --> 00:06:32,560 » Okay. This one is for the Golfsted Law Firm, 97 00:06:30,120 --> 00:06:37,480 which is coming to the close of their lease term at the end of this year. 98 00:06:35,000 --> 00:06:41,000 And so, we met with the loan committee, and 99 00:06:39,080 --> 00:06:44,960 Ron, the attorney there, mentioned he's not sure how long he wanted to do the 100 00:06:43,400 --> 00:06:48,520 term, so we discussed what would be the best option. 101 00:06:46,520 --> 00:06:53,160 So, the recommendation was to keep it flat at the 11.25 a square foot that it 102 00:06:50,720 --> 00:06:57,360 currently is for the next 5 years with an opt-out clause for retirement or 103 00:06:55,120 --> 00:07:01,360 sale of the business. Since, I believe, his business is currently in the renewal 104 00:06:59,640 --> 00:07:04,520 decline phase, he may be seeking a buyer, or he may look to transition it 105 00:07:03,480 --> 00:07:08,520 somehow. So, >> Sure. 106 00:07:06,600 --> 00:07:13,400 » If that sounds good, we can decide on that, or if there's other ideas, we 107 00:07:10,160 --> 00:07:17,280 could listen to those, too. >> I I'm just curious on the opt-out 108 00:07:15,160 --> 00:07:20,760 clause, is it one-sided, or is it two-sided? So, like, if if he sale 109 00:07:19,040 --> 00:07:24,720 sells, are we doing a new lease with a new 110 00:07:23,040 --> 00:07:27,680 business, or how do how does that Are they taking over that lease? Like, how 111 00:07:26,160 --> 00:07:31,280 is that working with that opt-out clause? 112 00:07:29,120 --> 00:07:34,720 » actually. I think we If it's the same company, 113 00:07:33,360 --> 00:07:37,520 and I may need help from Reed on this. If it's the same company, then the 114 00:07:35,960 --> 00:07:42,480 lease, I would assume, would hold place. It would just be cuz the lease is with 115 00:07:39,400 --> 00:07:45,560 Golfsted Law, and not with Ron. >> Right. I'd assume it would continue on, 116 00:07:44,520 --> 00:07:48,440 but when that ends, we would have to renew 117 00:07:46,960 --> 00:07:52,240 it with them. If it is a totally different company that say like comes in 118 00:07:50,480 --> 00:07:54,880 and it's like Ferguson Law or something else totally different, think it'd have 119 00:07:53,840 --> 00:07:57,000 to be a new lease. >> Mhm. 120 00:07:56,160 --> 00:08:00,840 » Correct. >> I was just wondering, too, cuz I mean it 121 00:07:58,400 --> 00:08:03,440 it's Golseth, Jensen, and McCann. So, if one of them retires, like I'm just 122 00:08:02,960 --> 00:08:07,040 curious >> Well, one isn't even with us anymore. 123 00:08:05,320 --> 00:08:09,640 He's been gone for >> Right. 124 00:08:07,760 --> 00:08:12,760 » ever. >> I I I'm just It was just a question. I 125 00:08:11,360 --> 00:08:16,800 just didn't know if it was a two-way opt-out clause or 126 00:08:14,800 --> 00:08:19,919 we're we're we're just locking this in for a business for the next 5 years. 127 00:08:18,880 --> 00:08:21,400 » Whatever business shows up. >> Yep. 128 00:08:20,560 --> 00:08:26,240 » Very good. >> any business No, not for any business, 129 00:08:23,440 --> 00:08:32,520 for Ron's business. If the If the name changes or if Ron retires or Ron decides 130 00:08:30,400 --> 00:08:37,120 to move to Grand Forks, he would be in breach of this contract. That's he he 131 00:08:34,719 --> 00:08:40,520 It's upon retirement that it's on his terms is what I think we kind of 132 00:08:39,200 --> 00:08:44,360 proposed, right? >> Yeah, that's the the proposal at the 133 00:08:42,560 --> 00:08:48,920 loan committee that I recall, too, is it's a little bit one-sided to your 134 00:08:46,600 --> 00:08:54,400 point, Daniel, but it was um so that if Ron chooses to retire in 135 00:08:51,880 --> 00:08:59,560 the middle of the term of the agreement um or opts to sell the business as part 136 00:08:57,240 --> 00:09:03,240 of a succession plan, it would allow him to opt out at that time. 137 00:09:01,720 --> 00:09:07,240 Um the benefit on the city side is we lock in a 5-year agreement, where 138 00:09:04,800 --> 00:09:09,280 otherwise it may be a shorter term with more uncertainty on that end for the 139 00:09:08,680 --> 00:09:13,320 city. >> And then the reason we left it flat is 140 00:09:11,800 --> 00:09:16,080 because we did it with Mike's and we felt that that was the right thing to 141 00:09:15,360 --> 00:09:20,200 do. >> So, and that I didn't have a I just 142 00:09:18,240 --> 00:09:22,640 wanted to clarification on that. So, thank you. 143 00:09:24,440 --> 00:09:30,960 » Any other questions? Looking for a motion. 144 00:09:29,560 --> 00:09:36,080 » I'll make a motion. >> I'll second it. 145 00:09:32,360 --> 00:09:36,080 » No, you go ahead. Please call roll. 146 00:09:37,520 --> 00:09:39,920 » Yes. >> Black? 147 00:09:39,160 --> 00:09:41,520 » Yes. >> State? 148 00:09:40,560 --> 00:09:42,840 » Yes. >> Brenda? 149 00:09:42,040 --> 00:09:44,280 » Yes. >> Pat? 150 00:09:43,320 --> 00:09:45,560 » Yes. >> Morgan? 151 00:09:44,840 --> 00:09:48,440 » Yes. >> Al? 152 00:09:46,000 --> 00:09:48,440 » Yes. 153 00:09:48,880 --> 00:09:56,600 Perfect. All right. Fiscal year 27 budget. 154 00:09:54,120 --> 00:10:00,720 » So on the last page of your packet is the budget summary. 155 00:09:58,680 --> 00:10:03,960 We met with city council and gave them kind of a very early proposal of what 156 00:10:02,960 --> 00:10:09,200 our departmental budgets could look like. 157 00:10:06,200 --> 00:10:13,880 There is one change to note on this. Since Brenda has been helping a lot with 158 00:10:11,080 --> 00:10:17,760 the different duties with the EDA, especially with those spotlights, we're 159 00:10:15,840 --> 00:10:21,200 kind of consuming more of time that she normally is spending with planning and 160 00:10:19,400 --> 00:10:27,200 there was kind of an emptiness in the need for time with planning. So we are 161 00:10:23,840 --> 00:10:30,920 looking to shift her over to 50/50 EDA planning split. And that would probably 162 00:10:29,360 --> 00:10:36,800 take um place January 1st of 2027. 163 00:10:34,080 --> 00:10:41,280 So yay, we get more support. But that will change the wages, 164 00:10:38,640 --> 00:10:45,120 insurance benefits part at the top. Um just due to that change. However, from 165 00:10:43,680 --> 00:10:49,400 if I understand correctly, planning has already budgeted in for her normal 75% 166 00:10:48,280 --> 00:10:54,640 we've already budgeted in for her quarter percent. So it comes from the 167 00:10:52,200 --> 00:10:57,920 general fund, so it's not it wouldn't be a drastic change, it would just be like 168 00:10:56,200 --> 00:11:01,760 a a ratio. >> Yeah, essentially. 169 00:11:00,160 --> 00:11:05,160 So that would be something to note and then the other thing is our expenses. 170 00:11:03,560 --> 00:11:09,280 We've kept them flat. We're able to offer really great programming and 171 00:11:06,960 --> 00:11:13,680 support. And I've had a ton of people ask me from different towns, like how do 172 00:11:11,560 --> 00:11:17,200 you do your business spotlights? You know, what are you using for tracking 173 00:11:15,080 --> 00:11:20,440 your contacts and your deals through convergence, so 174 00:11:18,960 --> 00:11:24,800 it's nice to be a trailblazer in that regard with our um effective operating 175 00:11:23,120 --> 00:11:28,520 budget we have. And then we're getting close to the end 176 00:11:26,200 --> 00:11:33,320 of our Waters Edge lot sales. There was some interest in reducing the the that 177 00:11:30,440 --> 00:11:37,800 we have budgeted for that 30% or 30,000 for 2027. Um we did have a conversation 178 00:11:36,480 --> 00:11:41,320 which kind of foreshadows the next agenda item with North Star neighbors 179 00:11:40,200 --> 00:11:43,840 and they expressed some interest in potentially acquiring some more of our 180 00:11:42,720 --> 00:11:47,120 lots and we are working with someone else who 181 00:11:45,720 --> 00:11:52,040 is um looking to do that $100,000 builder 182 00:11:49,720 --> 00:11:57,760 loan program. So we have five lots left in the PUD. So 183 00:11:55,320 --> 00:12:03,040 that's all we have remaining. >> I I just don't think it'd be wise to 184 00:12:00,080 --> 00:12:05,520 reduce them now. I mean 185 00:12:05,120 --> 00:12:08,080 there's no way >> No, we weren't going to reduce them. 186 00:12:06,520 --> 00:12:10,600 » No, not the lots, just the amount budgeted that she's going to make up for 187 00:12:09,720 --> 00:12:13,880 sales. >> So 188 00:12:11,240 --> 00:12:17,680 » Sorry for blowing up. >> And out of those five we need to 189 00:12:16,160 --> 00:12:19,520 recognize that two of them are going to be very hard to sell. 190 00:12:18,760 --> 00:12:21,320 » Hard to sell. >> Yeah. 191 00:12:19,960 --> 00:12:24,880 » I think two or three, right? >> Two for sure. 192 00:12:22,400 --> 00:12:26,040 » The PUD, the duplex, and that one on 23rd. 193 00:12:25,640 --> 00:12:29,760 » Yep. >> Those are toughest. 194 00:12:27,680 --> 00:12:33,760 So we may have to like look at different creative ways on those. 195 00:12:31,720 --> 00:12:36,760 Um So that's what I have for this budget. 196 00:12:35,320 --> 00:12:40,880 If anyone feels like something could be changed or edited, we can absolutely 197 00:12:39,280 --> 00:12:47,600 make changes cuz we're still in the editorial part before council gets to 198 00:12:44,160 --> 00:12:47,600 lock in the the amounts. 199 00:12:49,800 --> 00:12:56,440 » Any changes, questions? >> How's our real estate agent doing? 200 00:12:54,680 --> 00:13:00,000 » Really well. He's sold four houses already. Or not houses, but four lots. 201 00:12:58,560 --> 00:13:03,280 » That's a good change. >> Yes. Yeah. 202 00:13:00,880 --> 00:13:06,440 » From May, I think he came on in May? May to now. 203 00:13:04,280 --> 00:13:10,520 » That that was a good a good investment. >> Yes. And he said that he'll be starting 204 00:13:07,880 --> 00:13:13,080 his second phase of advertising. Um unfortunately I don't recall the 205 00:13:11,560 --> 00:13:17,400 specifics of it, but he said he was doing like different phases of outreach 206 00:13:15,440 --> 00:13:20,440 to get people engaged in it. I was going to reshare one of his videos too that 207 00:13:18,960 --> 00:13:24,680 talks about like don't miss out on this opportunity of building here. There's 208 00:13:22,440 --> 00:13:28,560 also been a good number of people taking out housing building permits, so 209 00:13:27,200 --> 00:13:31,840 we might be just capitalizing on a really good time, too, to list. 210 00:13:29,800 --> 00:13:36,600 » just pretty much stop now, though, and until spring? Is anybody 211 00:13:34,440 --> 00:13:38,920 usually buying in the fall? >> Hey, you never know. 212 00:13:37,440 --> 00:13:42,520 » You never know? Okay. >> You see a lot of people potentially 213 00:13:40,480 --> 00:13:45,280 still buy lots in the fall to be ready to break ground 214 00:13:43,680 --> 00:13:48,440 » spring. Okay. And two of our Northstar neighbor houses 215 00:13:46,960 --> 00:13:53,680 are supposed to start breaking ground in the fall, tentatively. So, 216 00:13:51,440 --> 00:13:56,360 people might use the same contractor. >> Right. 217 00:13:54,640 --> 00:14:01,600 How many lots do we have left? >> Five. We have five and one PUD. 218 00:14:00,120 --> 00:14:05,560 » But it's I mean, there's action over there. There's two of them getting built 219 00:14:03,120 --> 00:14:08,680 in the Tribune Circle right now, and >> It's a lot less than when I started on 220 00:14:06,920 --> 00:14:13,000 this board, so. A lot less. 221 00:14:10,480 --> 00:14:13,000 » That's good. 222 00:14:15,120 --> 00:14:20,680 » So, we're looking for a motion. >> On the budget? 223 00:14:19,040 --> 00:14:22,800 » No, budget's already done. We're discussing housing and lots. 224 00:14:21,720 --> 00:14:26,320 » Okay, housing and lots. Oh, we haven't gotten there yet. Okay. 225 00:14:24,400 --> 00:14:28,040 » Do you need a motion for the budget? >> Yes. 226 00:14:27,760 --> 00:14:30,440 Yes. >> I'll move to approve budget 227 00:14:30,000 --> 00:14:32,440 » Thank you. >> has it. 228 00:14:30,880 --> 00:14:35,280 » I'll second. >> Call roll, please. 229 00:14:37,880 --> 00:14:39,880 » Yes. >> Black. 230 00:14:39,160 --> 00:14:41,240 » Yes. >> Say. 231 00:14:40,440 --> 00:14:42,480 » Yes. >> Andi. 232 00:14:41,839 --> 00:14:43,880 » Yes. >> Katz. 233 00:14:42,880 --> 00:14:45,480 » Yes. >> O'Brien. 234 00:14:44,839 --> 00:14:48,839 » Yes. >> Andi. 235 00:14:46,280 --> 00:14:48,839 » Yes. 236 00:14:49,080 --> 00:14:53,920 » All right. A housing and lots discussion. 237 00:14:52,040 --> 00:14:58,120 » Okay, this is the juicy nugget one for conversation. 238 00:14:56,160 --> 00:15:00,960 I'm excited about this one. And it leads in well, cuz Dana said we 239 00:14:59,520 --> 00:15:04,960 just finished selling most of those lots. Well, 240 00:15:02,440 --> 00:15:08,720 we're at a predicament here. We've sold most of our city-owned 241 00:15:06,680 --> 00:15:13,560 residential lots, and we are anticipating a large influx of hopefully 242 00:15:11,560 --> 00:15:16,760 permanent residents into the greater MSA. 243 00:15:14,960 --> 00:15:20,040 Um whether it be from Agristo, the Air Force Base is doing some different 244 00:15:18,360 --> 00:15:24,280 projects in Grand Sky. We're hoping to be a little proactive in getting 245 00:15:22,040 --> 00:15:29,520 affordable and available housing. We're at a pretty low available housing rate 246 00:15:26,440 --> 00:15:34,320 currently. Um, back in like Q1 it was around 1.99% for rental vacancy, which 247 00:15:32,440 --> 00:15:38,640 is really low. Ideally it's somewhere between like 5 to 10% so it gives people 248 00:15:36,400 --> 00:15:43,000 options and flexibility. So, we're looking at 249 00:15:40,960 --> 00:15:46,560 what is our next step? The council in the past had signaled that they don't 250 00:15:44,600 --> 00:15:50,320 want to be a residential developer, that we want to be out of it, hands-off, let 251 00:15:48,560 --> 00:15:55,920 someone else come in and do it. Um, unfortunately those outlays have sat 252 00:15:52,240 --> 00:16:01,840 there just kind of not having any action and it begs the question then of like 253 00:15:58,520 --> 00:16:06,480 should we engage in, you know, preparing those lots that go north of Waters Edge 254 00:16:04,160 --> 00:16:10,880 and get them ready? Should we put out an RFP and ask a developer to do that? Are 255 00:16:09,440 --> 00:16:15,160 there incentives that we should try to position so we can get more housing? And 256 00:16:13,480 --> 00:16:18,040 then I included some really fun facts that I pulled 257 00:16:16,800 --> 00:16:21,160 um so theoretically 258 00:16:19,800 --> 00:16:25,880 Gen Z, I've heard some conflicting information 259 00:16:22,960 --> 00:16:29,080 from other sources but consistently the research I'm finding is saying Gen Z 260 00:16:27,400 --> 00:16:32,600 wants to own a house, which I feel like is normal for any up-and-coming 261 00:16:31,040 --> 00:16:37,320 generation. They want to own a house, it's an easy investment, they're wanting 262 00:16:35,200 --> 00:16:41,760 to start families, they're motivated to grow and start families and we have a 263 00:16:39,440 --> 00:16:46,320 huge population of those coming through, you know, the university and through the 264 00:16:43,440 --> 00:16:48,920 college and apartments are good but they're they're not a permanent 265 00:16:47,600 --> 00:16:51,880 necessarily housing option that everybody wants. 266 00:16:50,680 --> 00:16:56,120 So, a lot of Gen Z is looking for home 267 00:16:53,680 --> 00:17:00,080 ownership programs to help them typically government ones. So, I don't 268 00:16:58,040 --> 00:17:04,959 know if that's a a consideration we want to look at if we did that $5,000 down 269 00:17:03,000 --> 00:17:08,000 payment program and we're at pretty much the end of those. There's just a couple 270 00:17:06,600 --> 00:17:11,120 where people are moving out before the full term. So, we're getting some of 271 00:17:09,600 --> 00:17:13,400 that back as that miscellaneous revenue but 272 00:17:12,079 --> 00:17:17,120 is that something we want to do in the future? 273 00:17:14,600 --> 00:17:20,079 Do we want to consider you know 274 00:17:17,959 --> 00:17:24,480 other programs that are helpful. And another unique trend is that we're 275 00:17:22,040 --> 00:17:28,280 seeing retirees are not downsizing. I've experienced this personally. I've seen 276 00:17:25,920 --> 00:17:32,080 it happen. Um there's that aging in place concept of I'm comfortable in this 277 00:17:30,400 --> 00:17:34,720 house. It's paid off. It's got a great interest rate. I know where everything 278 00:17:33,600 --> 00:17:37,400 is. I can walk it in the middle of the night. 279 00:17:35,760 --> 00:17:41,000 So we're not seeing necessarily people who are wanting to, you know, when they 280 00:17:39,080 --> 00:17:46,000 hit retirement age move into a smaller house or downsize. Uh largely people are 281 00:17:44,520 --> 00:17:50,680 either staying in their house or they're buying a house of the same square 282 00:17:47,520 --> 00:17:54,160 footage or even 100 square feet larger. And then there is a little typo here, 283 00:17:51,760 --> 00:17:58,640 but 18% of those who are 80 years old to 100 year old um want to plan to 284 00:17:56,840 --> 00:18:02,400 basically downsize. So we're not seeing that shift until people are getting kind 285 00:18:00,400 --> 00:18:05,680 of up in their ages where they're, you know, there's a lot of upkeep with a 286 00:18:04,080 --> 00:18:09,760 house when you're that age and mowing and things. 287 00:18:07,080 --> 00:18:12,800 So then that's kind of some food for how we want to do this. 288 00:18:11,400 --> 00:18:17,440 » I think one of the problems that you'll that you I see it from 289 00:18:15,800 --> 00:18:20,520 people that I work with in my industry that are looking to downsize at a 290 00:18:19,080 --> 00:18:25,080 certain age. Problem is right now is downsizing costs 291 00:18:23,000 --> 00:18:29,840 you more. So in in that instance, you know, yeah, 292 00:18:27,680 --> 00:18:32,600 they'd probably love to get into a town home or something where maybe they don't 293 00:18:31,640 --> 00:18:35,960 have to mow, they don't have to do the snow removal or something or maybe 294 00:18:34,160 --> 00:18:39,240 they're snowbirds so they don't have to worry about, you know, snow still 295 00:18:38,160 --> 00:18:43,520 getting moved it looks like somebody's there in the winter. But everyone that I 296 00:18:41,240 --> 00:18:46,760 talked to that wants to downsize said it's going to cost them more. So it's 297 00:18:45,480 --> 00:18:50,360 difficult to do it. >> That was actually Gen X's biggest 298 00:18:48,160 --> 00:18:52,880 complaint. They would like to downsize, but they're also dealing with the cost 299 00:18:52,120 --> 00:18:55,920 of like doing a whole new house, new 300 00:18:54,680 --> 00:18:58,680 mortgage. >> They said there's nothing in their price 301 00:18:57,560 --> 00:19:03,960 range that two 300,000 dollars. I mean there's 302 00:19:01,920 --> 00:19:07,400 just nothing. And and the >> How can there be when you buy a new 303 00:19:05,720 --> 00:19:08,560 pickup? They're 100 grand. >> Right. 304 00:19:07,960 --> 00:19:12,760 » You know. >> Right. Because they're like, oh, they 305 00:19:09,760 --> 00:19:17,240 want 20% down or whatever it whatever it is now. They So they look at it like, 306 00:19:14,720 --> 00:19:19,920 "Oh, I need like $50,000 cash before I can even buy a house." 307 00:19:19,320 --> 00:19:23,240 » Mhm. Mhm. >> And so it's it's been really hard and 308 00:19:21,960 --> 00:19:27,040 there's nothing in their price range. So it goes more like four or five 600,000. 309 00:19:25,480 --> 00:19:30,480 They're like, "We just can't afford it. We can't don't have the down payment for 310 00:19:28,560 --> 00:19:33,080 it." So I've heard that a lot cuz I work a lot with that that age group and 311 00:19:32,440 --> 00:19:36,960 stuff. But >> And which at that time we 312 00:19:35,720 --> 00:19:39,240 we're in the same boat. >> Mhm. 313 00:19:38,000 --> 00:19:41,880 Yeah. So 314 00:19:40,080 --> 00:19:45,480 » Still are. So if we're going to go forward and we were looking at this, I 315 00:19:43,320 --> 00:19:48,360 guess my question would be is is what would we be looking to develop those 316 00:19:46,880 --> 00:19:52,200 houses into? What's the income range that we're 317 00:19:49,680 --> 00:19:57,680 targeting for that? Because I mean if we're going to target and have these as 318 00:19:54,080 --> 00:20:00,560 like half million 400 or above $1,000 houses, 319 00:19:58,880 --> 00:20:04,760 you're not attracting people who are going to be coming for the jobs that are 320 00:20:02,480 --> 00:20:08,560 that are coming into town. Well, that's the question. 321 00:20:04,960 --> 00:20:11,840 » are with with Agri school and with Grand Sky, you are. 322 00:20:10,160 --> 00:20:14,160 » Yeah, people in their 40s, 50s? >> Yeah. 323 00:20:12,240 --> 00:20:18,160 » I mean, those are going to be those are going to be very well-paying jobs that 324 00:20:15,880 --> 00:20:22,200 are coming. And we talked about this at the loan committee of 325 00:20:19,880 --> 00:20:26,080 we have no inventory of lots. And with some of the jobs that are coming, 326 00:20:24,400 --> 00:20:29,600 um we're going to put ourselves at a disadvantage if we don't even have the 327 00:20:27,720 --> 00:20:32,720 ability to capture some of those people that are going to be looking to move 328 00:20:30,520 --> 00:20:35,240 into town to fill those jobs. So that's where the discussion comes up 329 00:20:34,280 --> 00:20:38,600 of do we look to develop it? Do we put an 330 00:20:36,800 --> 00:20:43,320 RFP out to find a developer that wants to develop it? Um Ben knows a little 331 00:20:41,080 --> 00:20:46,000 more about some of them that they they did it and there's some that are almost 332 00:20:44,960 --> 00:20:49,040 pretty close to ready to >> There's some that's 333 00:20:47,680 --> 00:20:52,600 I would say and Reed can speak to this, but there's 334 00:20:50,720 --> 00:20:57,880 some lots out there that there isn't a whole lot of infrastructure to put in. 335 00:20:55,920 --> 00:21:01,680 There's also a big portion of it that there's a lot of infrastructure to put 336 00:20:59,440 --> 00:21:04,880 in out there. So I mean trying to partner with a developer 337 00:21:03,680 --> 00:21:10,720 to get some things done. I I know we've always 338 00:21:07,760 --> 00:21:13,440 said no way, we're not doing this again, but 339 00:21:11,760 --> 00:21:17,240 there's lots out there where if we had them ready, they'd sell tomorrow. That's 340 00:21:15,680 --> 00:21:19,960 just the way that it's looking. >> That's the shift. 341 00:21:18,360 --> 00:21:25,800 » That's that's the way it's looking right now. And I know I can speak that, you 342 00:21:22,760 --> 00:21:30,040 know, it's difficult. I I know from a city perspective, 343 00:21:27,560 --> 00:21:34,120 there's uh value to that land. From a developer 344 00:21:31,560 --> 00:21:39,560 perspective, there's a lot less value to that land just because of the inputs 345 00:21:37,040 --> 00:21:42,640 that you'd have to put into it. So, um 346 00:21:40,600 --> 00:21:46,880 yeah, I guess it probably goes back to council. 347 00:21:44,080 --> 00:21:52,200 You guys to decide if you want to pursue an RFP type situation. We 348 00:21:50,000 --> 00:21:54,880 talked about it at the loan committee of I think that's probably the right step. 349 00:21:54,360 --> 00:21:59,120 » Yes. >> Because, 350 00:21:56,400 --> 00:22:03,360 you know, otherwise it's the city unless you guys decide as a city, we 351 00:22:01,240 --> 00:22:07,320 want to develop that and do lots again. >> I think the discussion was uh in the 352 00:22:05,480 --> 00:22:10,760 loan committee is that if we put out an RFP, there's not going to be a whole lot 353 00:22:09,400 --> 00:22:12,960 of interest just because of the type of capital that it's going to take. 354 00:22:11,880 --> 00:22:14,360 » We don't think so. >> Probably not. 355 00:22:13,560 --> 00:22:16,320 » We don't think so. >> But I think that's the first step. 356 00:22:15,600 --> 00:22:19,600 » Yeah. >> I mean, I I think there's probably an 357 00:22:18,040 --> 00:22:23,360 agreement with not only across this board, but city council that we we don't 358 00:22:21,560 --> 00:22:27,040 want to be in a position of owning lots and having to sell lots 359 00:22:24,760 --> 00:22:29,880 again, but um there's no other lots in town anywhere. 360 00:22:29,080 --> 00:22:33,800 » Right. I think we >> There's nothing on the south south end 361 00:22:31,520 --> 00:22:36,160 left. I mean, we probably have There's two lots 362 00:22:34,920 --> 00:22:39,960 » on the south end that we talked about that came up and 363 00:22:37,200 --> 00:22:43,600 » Yep. Besides those two, there might be one or two more, and then 364 00:22:41,920 --> 00:22:47,360 R5, like there's probably less than 10 lots available in town. 365 00:22:45,000 --> 00:22:50,480 » And there's develop I mean, with the lagoons gone now, 366 00:22:49,320 --> 00:22:53,320 it's a it's a de- you know, the around that 367 00:22:52,160 --> 00:22:55,840 golf course is >> Nice. 368 00:22:53,760 --> 00:23:00,040 » That's nice. That's why people are building out there right now. 369 00:22:57,800 --> 00:23:04,960 » I I I'm still skeptical on on the housing and in the market that 370 00:23:01,440 --> 00:23:07,800 targeting, but how can we make it something that somebody wants to come in 371 00:23:06,400 --> 00:23:10,640 and develop so that we're not in that business. 372 00:23:09,120 --> 00:23:13,560 What what what can we do? >> Give away the land. 373 00:23:13,600 --> 00:23:19,160 I mean, honestly. You know, or partner with partner with 374 00:23:17,200 --> 00:23:22,520 somebody so it makes financial sense. >> But it's got to make financial sense. 375 00:23:20,880 --> 00:23:25,440 That's why I'm curious to like is it if it's giving away land and it's something 376 00:23:24,000 --> 00:23:27,480 that we need, then that is that what we're considering here? 377 00:23:26,560 --> 00:23:29,960 » Yeah, I don't know. >> Is that that's the only That's the only 378 00:23:28,880 --> 00:23:31,640 way I see >> So 379 00:23:30,880 --> 00:23:35,560 I think I know what I'm talking about. RFP for 380 00:23:33,440 --> 00:23:38,560 the land and if not, then we consider developing the land ourselves. 381 00:23:36,840 --> 00:23:41,480 » Yeah. I think that's >> Say that again, Ben. 382 00:23:39,480 --> 00:23:44,600 » We do an RFP to see if there's a developer that is interested in 383 00:23:42,880 --> 00:23:48,720 purchasing the land and developing it themselves 384 00:23:46,080 --> 00:23:52,720 and if they can't, then as a council and as a city, we change 385 00:23:51,320 --> 00:23:55,560 change course and say, "Okay, we're going to 386 00:23:53,800 --> 00:23:57,560 develop these lots that we said we were never going to do 387 00:23:56,840 --> 00:24:02,200 again and >> Right, cuz there is some infrastructure 388 00:23:59,720 --> 00:24:04,640 already in that we almost have to recap. We're looking probably to recapture some 389 00:24:03,840 --> 00:24:07,160 of that, I'm guessing. >> I think some of it has to be redone, 390 00:24:05,840 --> 00:24:11,000 right? >> Uh no, I'm not aware of any of that 391 00:24:08,600 --> 00:24:16,560 needs to be redone. Uh there's sanitary sewer already there. Um 392 00:24:14,040 --> 00:24:20,800 about 29 lots could be serviced by the existing sanitary north on St. Andrews 393 00:24:18,760 --> 00:24:24,360 Drive to that lift station. If you build houses on both sides of that street, the 394 00:24:22,920 --> 00:24:25,680 sanitary line that's already there would serve those. 395 00:24:25,080 --> 00:24:29,080 » Yep. >> So you still need to bring in 396 00:24:26,720 --> 00:24:31,480 electricity, drinking water, storm sewer, and roads, right? 397 00:24:31,080 --> 00:24:34,160 » Yep. >> But the sanitary is that's a big expense 398 00:24:33,200 --> 00:24:36,440 that's already there. >> Yep. 399 00:24:34,600 --> 00:24:39,920 » To your point, Justin, there's there could potentially be special assessments 400 00:24:39,560 --> 00:24:44,160 » Mhm. >> for that sanitary line that was 401 00:24:41,480 --> 00:24:46,520 installed 20 years ago. Still that may need to be spread across those lots. 402 00:24:46,040 --> 00:24:51,000 » Right. >> Um I have a not spent enough time to 403 00:24:49,360 --> 00:24:54,960 look at a calculation of what that cost would look like or if it's something the 404 00:24:52,160 --> 00:24:58,120 city wants to eat just to help push up development along. Um but that's there. 405 00:24:57,680 --> 00:25:02,000 » Yep. >> I think there's other scenarios to 406 00:24:59,440 --> 00:25:06,320 consider too and look at is that, um, you know, is is Bob going to develop any 407 00:25:04,440 --> 00:25:11,280 more on the south end? And if we have those talks and if he has plans on it, 408 00:25:09,520 --> 00:25:14,480 we obviously don't want to compete with private developers either and let them 409 00:25:13,360 --> 00:25:18,440 develop. Um, so if he does and how many lots is 410 00:25:16,440 --> 00:25:22,840 he going to input and then maybe that makes a decision easier for the city 411 00:25:20,000 --> 00:25:27,640 that says, "Hey, nobody's interested in it, but let's do 412 00:25:24,720 --> 00:25:30,920 some and not all of it." And then that gives us a little bit more inventory so 413 00:25:29,280 --> 00:25:35,160 we've got inventory on both ends of town in case somebody chooses one end or the 414 00:25:33,320 --> 00:25:37,600 over the other. If 415 00:25:36,280 --> 00:25:41,560 if we don't have anything that's going to be developed on the south end, we 416 00:25:39,160 --> 00:25:46,920 need to hardly consider how do we get lots available and not miss out on 417 00:25:45,320 --> 00:25:49,400 potential tax base to build for the city. 418 00:25:48,000 --> 00:25:53,600 » We had also considered too, there's housing TIF. I don't know if there's an 419 00:25:51,320 --> 00:25:58,160 appetite for that, but that would allow the ability to wrap all the expenses 420 00:25:55,240 --> 00:26:04,160 into like a as the increment increases, ability to get reimbursed to help kind 421 00:26:00,400 --> 00:26:08,160 of build a lot of housing at one time. >> Does that constrain you on the building 422 00:26:05,680 --> 00:26:12,880 end? Once you, like if you put them in a district like that, is that a 423 00:26:10,520 --> 00:26:14,680 is that constrain the buyer or is that just a 424 00:26:14,160 --> 00:26:18,880 » Okay. >> a financing part. 425 00:26:15,600 --> 00:26:23,880 » Just a financing part. Okay. >> And that can go up to 26 years and then 426 00:26:21,640 --> 00:26:27,280 there is excess increment that's generated between like the taxable value 427 00:26:25,480 --> 00:26:31,480 and the new value. That could be used in like in the surrounding area to kind of 428 00:26:28,760 --> 00:26:36,680 help with like sidewalks or other value added at 429 00:26:32,960 --> 00:26:39,200 value added access things. >> Well, like Ben already mentioned, I 430 00:26:37,800 --> 00:26:43,120 think what we we talked about at the loan committee is, our consensus anyways 431 00:26:41,560 --> 00:26:47,120 is like let's put it out there, see if anybody wants it first and get it and 432 00:26:44,640 --> 00:26:53,760 then if not, then council's got to make a decision on where do we go from there. 433 00:26:51,080 --> 00:26:57,680 » Cuz there's really been no action or 434 00:26:54,840 --> 00:26:59,320 RFP ever put out on this, right? >> I don't think so. 435 00:26:58,480 --> 00:27:03,960 » Okay. >> I don't believe there has been. The The 436 00:27:01,760 --> 00:27:09,160 city like Widseth has done some site plans that has laid out potential lot 437 00:27:06,360 --> 00:27:12,640 sizes and utility locations. Um but I think even those are probably 438 00:27:11,280 --> 00:27:14,680 10 years old at this point. >> Yep. 439 00:27:16,680 --> 00:27:23,000 » So, we're looking for a motion to 440 00:27:21,040 --> 00:27:25,200 Ben's going to head it up at the console and 441 00:27:25,680 --> 00:27:31,360 » Stump's going to say good idea. >> Ben, please. Not Ben. 442 00:27:29,560 --> 00:27:33,720 » Yeah, there you go. >> You can certainly make a motion if you 443 00:27:32,720 --> 00:27:37,360 want, but I think we could just take this direction to staff direction and 444 00:27:36,120 --> 00:27:41,160 maybe you know, I can start working on RFP and then, you know, at next month's 445 00:27:39,600 --> 00:27:44,560 meeting have an RFP ready for your review 446 00:27:42,360 --> 00:27:46,200 um to bring to council for their approval. 447 00:27:45,360 --> 00:27:50,920 » Yep. I think everybody's in consensus that 448 00:27:48,920 --> 00:27:55,200 we'd like someone else to do it if possible, but we'll see what happens. 449 00:27:53,480 --> 00:27:58,920 » But like you said, what hand are we going to be forced? I mean 450 00:27:57,160 --> 00:28:02,760 » If the the other lot's more attractive, they're going to go there. 451 00:28:00,160 --> 00:28:06,760 » Well, it it it it back to it. 452 00:28:05,200 --> 00:28:08,080 » So, the lots that are left are the less desirable lots. 453 00:28:07,880 --> 00:28:11,720 » Yeah. >> There's three that are probably 454 00:28:10,600 --> 00:28:12,920 » probably not going to sell. >> Yeah. 455 00:28:12,160 --> 00:28:18,360 » Yep. >> So, if we open up additional land that 456 00:28:16,640 --> 00:28:20,480 can be developed >> Better chance of people moving. 457 00:28:19,400 --> 00:28:23,800 » desirable lots. >> Yeah. 458 00:28:21,040 --> 00:28:28,440 » Um which will then facilitate further building in that 459 00:28:26,520 --> 00:28:30,600 area. And once they start building, you know, like 460 00:28:29,400 --> 00:28:34,000 hopefully it's like on the south end of Grand Forks where once they start 461 00:28:32,720 --> 00:28:36,840 » It'll just keep going. >> Yeah. These these would be lots that 462 00:28:35,400 --> 00:28:39,240 line the golf course again, so your backyard would be up to the next to the 463 00:28:38,480 --> 00:28:42,640 holes and not >> They were the first ones that They were 464 00:28:40,960 --> 00:28:46,040 the first ones that sold the first time. >> Yeah, so and they'd be the first 465 00:28:44,520 --> 00:28:46,520 » I like that. I'd like to see more people move in. 466 00:28:46,520 --> 00:28:49,800 » I >> mean, you 467 00:28:47,640 --> 00:28:54,800 I think there's probably 12 on that side left. I think they'd go pretty quick. 468 00:28:53,600 --> 00:28:57,840 » Yeah. Yeah, a local contractor has said that 469 00:28:56,520 --> 00:29:01,480 he could have four or five of them sold today if 470 00:28:59,400 --> 00:29:04,040 » I agree with him. It's the rest of it that Right. 471 00:29:02,520 --> 00:29:10,240 There's there's no sewer on the north side. So, there there's more work it the 472 00:29:07,200 --> 00:29:13,640 29's easy. It's the rest of it is challenging. 473 00:29:11,640 --> 00:29:17,320 » Um I just if there's still time for more conversation, Ben made a point I think 474 00:29:15,680 --> 00:29:20,600 it's worth bringing up of the existing four or five lots we 475 00:29:18,920 --> 00:29:25,000 have left. And a lot of you have said it, there are a few that are probably 476 00:29:23,120 --> 00:29:28,280 less than desirable. There's I think there's one in 477 00:29:26,040 --> 00:29:31,000 particular that probably merits some conversation. It's 478 00:29:30,360 --> 00:29:34,560 um I don't remember what the lot number is. 479 00:29:32,200 --> 00:29:38,240 It's on the corner of 23rd Street and >> Saint Andrews. 480 00:29:35,360 --> 00:29:41,720 » Saint Andrews Drive. Yep. It has a lot of a big chunk of the property is 481 00:29:40,640 --> 00:29:46,240 um interfered with by the underground 482 00:29:44,560 --> 00:29:51,600 » natural gas line. >> And it's also in that section of the the 483 00:29:49,040 --> 00:29:55,360 subdivision that has recorded governance on it. So, the combination of those two 484 00:29:53,680 --> 00:29:59,160 things, the size of the home and the size of the garage that are required, 485 00:29:57,040 --> 00:30:03,080 and the amount of property that's affected by the underground utility, 486 00:30:01,600 --> 00:30:07,560 you can fit a house in there, but it's going to be a really funky house and not 487 00:30:04,920 --> 00:30:09,400 much yard. It'd be front or side yard depending upon how you lay the house 488 00:30:08,920 --> 00:30:13,160 out. >> Well, there's personal property 489 00:30:10,680 --> 00:30:18,200 » and we're our asking price, yeah. Our asking price on it is 39,950. And of 490 00:30:15,720 --> 00:30:22,320 course, that's driven by the cost of the special assessments on the property. 491 00:30:21,200 --> 00:30:25,880 You know, I didn't bring any paperwork with, but that's one to me if the board 492 00:30:24,600 --> 00:30:31,320 has any idea for how to be creative to allow a 493 00:30:29,320 --> 00:30:35,200 home to be built there. Otherwise, I fear as we bring more new lots on, it's 494 00:30:33,800 --> 00:30:37,840 going to sit and we're going to end up just making it a park someday. 495 00:30:37,440 --> 00:30:41,640 » Right. >> Planting trees. 496 00:30:39,280 --> 00:30:45,080 Maybe that's what it is. Is that Is that where the conversation should go? 497 00:30:43,280 --> 00:30:48,720 » That's and that's of what I'm wondering. >> There is not any playground equipment on 498 00:30:46,760 --> 00:30:51,800 the on the north side of 23rd Street. >> There is Danny. I mean that certainly 499 00:30:50,760 --> 00:30:56,280 could be an option. >> I I wouldn't I wouldn't mind seeing if 500 00:30:53,760 --> 00:31:00,520 we can package that in somehow if that Northstar wants to 501 00:30:58,640 --> 00:31:03,360 have a few more lots if if we can agree to them like 502 00:31:01,280 --> 00:31:06,960 » We did pitch that to them yesterday. >> If you take a couple more lots, we'll 503 00:31:05,440 --> 00:31:09,280 kind of basically almost give you this lot if you take three more lots or 504 00:31:08,400 --> 00:31:14,560 something. >> Um that's the the unique uniqueness of 505 00:31:12,480 --> 00:31:18,480 that lot is troublesome for Northstar even 506 00:31:15,600 --> 00:31:22,920 because the price is high. It's 5,000 more than we're asking for other lots 507 00:31:20,480 --> 00:31:26,160 cuz it's a bigger lot and with those 508 00:31:24,960 --> 00:31:30,400 um square footage requirements, it makes 509 00:31:28,240 --> 00:31:34,960 the home build a lot more expensive. So Northstar prefers some of the smaller 510 00:31:32,480 --> 00:31:39,440 lots and the the I think it's Waters Edge third that don't have the covenants 511 00:31:37,480 --> 00:31:42,880 that have square footage requirements on them. 512 00:31:40,400 --> 00:31:46,840 So if we could find a work around to the covenants and come up with a price, I 513 00:31:45,040 --> 00:31:50,000 think they'd be willing to play ball, but as it stands today with what they 514 00:31:48,360 --> 00:31:52,920 know about it, it's they wouldn't be able to make it work 515 00:31:51,280 --> 00:31:56,200 for the grant funding they get on their homes. 516 00:31:53,760 --> 00:32:01,560 » And whether it's council that makes the decision or whatnot, I I think I'd be 517 00:31:59,200 --> 00:32:04,520 interested to see if can we package that somehow with them and 518 00:32:03,520 --> 00:32:07,840 » Yeah, if you're going to take three more lots, we'll give you that one for half 519 00:32:06,320 --> 00:32:12,240 the price or something just to get rid of it and have a wholesale on it. 520 00:32:10,800 --> 00:32:15,520 Yeah. >> The interesting part is I don't think 521 00:32:14,280 --> 00:32:18,080 I don't think we can change the covenants on the rest of the 522 00:32:17,160 --> 00:32:21,040 development. >> That would be my question is is because 523 00:32:19,600 --> 00:32:26,080 of the covenants there is is it feasible? 524 00:32:23,640 --> 00:32:29,320 I like I I mean is it actually feasible because if they're having trouble with 525 00:32:27,400 --> 00:32:32,200 it, I mean just not based on price but with the layout of how the house has to 526 00:32:30,720 --> 00:32:35,840 be, would it be a >> They're 527 00:32:33,280 --> 00:32:37,720 It's not feasible for them cost wise not for 528 00:32:36,000 --> 00:32:40,560 » why don't we say hey, we're okay with that cost wise and they say it's 5 grand 529 00:32:39,280 --> 00:32:44,560 more. Why don't we Okay. 530 00:32:42,800 --> 00:32:48,560 Say it's 15 grand. That's the difference and it's the same 531 00:32:46,000 --> 00:32:54,760 money for them to build. To be flush with that square foot. 532 00:32:51,520 --> 00:32:54,760 Would we be money ahead? 533 00:32:54,880 --> 00:32:59,640 You know, instead of 40 grand, it's 20 or 15. 534 00:32:58,400 --> 00:33:03,560 » Well, that's what I was saying. Like if they if we if we come to an agreement 535 00:33:01,760 --> 00:33:07,280 that they buy two or three more that we give them that lot for like half the 536 00:33:04,840 --> 00:33:10,840 price and include it in with a whole bundle, you know? 537 00:33:09,040 --> 00:33:13,800 I don't know. And but I mean you look at it as a park and then well, that's going 538 00:33:12,440 --> 00:33:17,640 to cost more money, too, because then you've got to put the put a park in 539 00:33:16,360 --> 00:33:19,760 Well, and that's not cheap to put all that playground equipment. 540 00:33:18,520 --> 00:33:25,280 » That one's actually really close to Nash Park. Yeah, Reed and I were just looking 541 00:33:21,840 --> 00:33:28,320 at a map. Um it's right across Like two blocks two blocks away. 542 00:33:27,160 --> 00:33:31,200 » Yeah, wouldn't make any sense. >> Yeah. 543 00:33:29,280 --> 00:33:34,640 » So so the house building the house there is feasible. It's just not feasible at 544 00:33:33,080 --> 00:33:36,840 the price at which the lot is at. >> it's price wise from what I understand, 545 00:33:36,520 --> 00:33:39,800 right? >> Cost prohibitive. 546 00:33:38,240 --> 00:33:44,600 » Yeah, because of the square footage requirements, right? Yeah, I think it's 547 00:33:41,800 --> 00:33:48,920 1,800 square feet minimum two stall attached garage is what the covenants 548 00:33:46,240 --> 00:33:52,120 call for for it the square footage. When you get to that size, 549 00:33:50,760 --> 00:33:56,640 the way that North Country Neighbors builds their homes, they're getting 550 00:33:53,760 --> 00:34:01,120 Minnesota housing grant funding for it, which requires that it be built with 551 00:33:58,200 --> 00:34:04,800 full accessibility and full energy star certification. So it's already more 552 00:34:03,160 --> 00:34:06,440 expensive home build as it is. >> True. 553 00:34:05,120 --> 00:34:10,800 » And then you have to if you have to meet those square footage requirements, it 554 00:34:09,080 --> 00:34:13,679 just it all kicks what they can get in grant funding. 555 00:34:12,159 --> 00:34:17,360 Um >> Let's see what 556 00:34:15,600 --> 00:34:20,280 I'm thinking about it that way. >> Yeah, I'm thinking about 557 00:34:17,919 --> 00:34:22,520 » mean like where they say it's no, and we say no, okay, well, we're back to the 558 00:34:21,919 --> 00:34:25,280 same boat. >> Right. 559 00:34:23,200 --> 00:34:28,960 » Yeah. >> You know, and I I don't I wouldn't push, 560 00:34:27,000 --> 00:34:33,240 you know, if you got if you buy these two, we'll do this. 561 00:34:31,159 --> 00:34:35,360 You know, like Jenner's Jerry fireworks or something. Yeah, I would 562 00:34:34,760 --> 00:34:39,080 » A bug going in. >> Let's just concentrate on one and 563 00:34:36,919 --> 00:34:43,200 » Yeah. >> Cuz if they if they're going to build 564 00:34:40,320 --> 00:34:46,080 more, they're going to buy more anyway. >> That's good. 565 00:34:44,200 --> 00:34:48,879 » How does this work to partner with you to 566 00:34:47,960 --> 00:34:51,080 get this done? >> Before there's nothing to partner with. 567 00:34:50,480 --> 00:34:53,480 » Correct. >> What do we have to do in order to get 568 00:34:52,480 --> 00:34:57,480 you to get take this off? >> we do to help you help ourselves? You 569 00:34:57,600 --> 00:35:01,640 » Is that something that we can ask him then is is what do we need to do? 570 00:35:00,440 --> 00:35:05,120 » That's the direction That's the direction we're going to go. 571 00:35:03,000 --> 00:35:05,120 » Okay. 572 00:35:05,280 --> 00:35:09,560 I'm good with that. Do you need a motion or something? 573 00:35:08,120 --> 00:35:11,560 » Sure, cuz nothing's happening. Yeah, it's just 574 00:35:10,440 --> 00:35:13,080 » All right. >> Okay. 575 00:35:12,400 --> 00:35:16,960 » Wow. >> Look at us. 576 00:35:14,120 --> 00:35:20,400 » Motion to adjourn. >> I'll move. 577 00:35:17,960 --> 00:35:20,400 » Second. 578 00:35:20,480 --> 00:35:25,160 » It's always quick. >> Benny. 579 00:35:23,200 --> 00:35:27,120 » Are you sure we should go? >> I'm sure. 580 00:35:25,920 --> 00:35:31,240 » By the way, I got 581 00:35:28,400 --> 00:35:35,280 easy a poop yesterday. On my back seller. 582 00:35:32,840 --> 00:35:35,280 » Oh, yeah?