Agenda - Council - 07/14/2026 - Laserfiche WebLink

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Member Riley stated that the LAHA funds would be used for low-income housing, not a coffee shop, so the housing units are the desired goal. He asked if the applicant would be willing to commit to one unit within phase one and the two additional units within a specified timeline. Ms. McDermott stated that she would commit to an extended timeline. She stated that they originally heard about the LAHA funds from the County and are aware of the necessary reporting. She hoped they could be an asset to the community, reducing the administrative burden on City Staff. Member Stewart asked if there is a probability that the funds coul s s s up to align with the phasing of the housing units, along with the funds specified for c Economic Development Manager Sullivan stated that they c :. d stru ure the agreement in that way, noting that $50,000 would be spent at the time of closing. He stated that there are expenses that will occur initially, such as parking, that will b " efit all phases. He commented that the $195,000 could be allocated in the beginning to get project ; oing and the first c nstructed, but it could also be split between phasing if desir . He stated t he was unsure e cash flow of the applicant and believed that having more cash flow in t eg ' ning would sist in gaining partnerships. He stated that if the group wants to make '&ha es, he would need those details in order to build those into the agreements: Motion by Member Lindahl, seconded by�tber Johnnson, to mend to City Council to approve Purchase Agreement, Right of Re- try Agreement, LAH ' (250k) and Sale of City Land to Elevate Hope House for Mixed -Use Projethe co ncy that the first floor and one unit will be constructed within 12 months of t losing, a ' the additional two units would be constructed within 24nths of thiclosing, sub t to City Attorney review. Further discussion: Member Stewart commented th the City is provided with limited resources, and LAHA is br. • • new. She commented that thity Council put a lot of thought into how those funds coul. to residents to reinvest in property. She commented that as an EDA member, she agr hat this is a good project and will support the motion today, but as a Councilmember, she i re if she will support the requelf it goes to the City Council. Member Ri choed the co�ients of Member Stewart. Member Lindahcommentedthat this is a great project that she is excited about, which also includes affordable housing units. Chairperson Wiyningtrr stated that he believes in the mission and the project, but cannot support the project as he has hesitation about locking up the land without more information about financing and the feasibility of moving forward. A roll call vote was performed: Member Hills Member Johnson nay aye Economic Development Authority/ June 11, 2026 Page 6 of 7