Um so I just wanted to thank all the sponsors and all the staff. I went through um the homes and it was great to see everybody and I really appreciate all the effort that went into it.

Under the proposed agreement, Habitat would acquire the property, demolish the existing home, redevelop the site with a new twin home, and then sell both units to income-qualified buyers.

The proposed $100,000 contribution per unit is at the high end of past HRA investments in affordable new construction and is a result of the significant rise in construction costs in recent years. The total financial gap per unit is estimated to be well over $400,000.

So staff is recommending that the HRA proceed with the acquisition of this property in spite of the high cost because it accomplishes several of the city's housing goals, removal of a very substandard property, twin home construction, affordable home ownership, the opportunity for universal design, and long-term affordability through the land trust or a 30-year covenant.

Is it unusual for a my my big concern here is like we're we're committing a lot of money per unit. Um and I it's almost certain that they're going to ask for more money and we don't know how much...

I'm inclined to go ahead with this right now, but I am nervous about what they're going to come back with, and do worry that it's sort of the benefit to the community won't justify whatever the unknown price tag is. I feel comfortable going ahead with it mainly because of the idea that it would go back to us if they can't develop it.