Agenda - Council - 08/10/2026 - Laserfiche WebLink

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Motion carried. 4.02: Consider Purchase Agreement, Right of Re -Entry Agreement, LAHA (250k), and Sale of City Land to Elevate Hope House for Mixed -Use Project Economic Development Manager Sullivan presented the staff report. Melinda McDermott, Elevate Hope House, introduced herself and proailed information on the organization, which was established in 2016 with the purpose of helpi gpung moms and their children who are experiencing homelessness. She stated that to date, they have served 18 moms and provided information on the services they provide. She co ented on the funding they have received and how they have partnered to continue their miss . She co ented that they have shifted their mindset from providing services for two ye • viding • ge from the initial programming to long-term housing. She was excited t• •ntin - their dream ering affordable housing and services to those in need and to prow a gather' • g space for th m nity. She was thankful to Ramsey for considering their re Member Stewart asked for more information on the num . er of apartments being promised if this is approved. Ms. McDermott explained that they are going to commit to one ung built by the end of the construction period. She stated that they may be able to const t all three units within that timeframe, but did not want to overpromise au derdelive stated that the remaining units would be constructed wit r ar. Chairperson Wiyni, stretch. ore information on the financials, as this seems like a big Ms. McDe tt stated that the last two proje ave been amazing, partnering with several trade partners d that is what they would plan to do for this project, noting Lennar as one of the part She stated that they fundraise teget to a certain number, and the trade partners donate pro ucts and labor. She prov'=. ed information on the estimated value of the last project and the actual cash that were c r ributed. Chairperson Wi $3,000,000 that wo He asked about the fea r sta that it looks like this project would have an estimated value of re about $1,000,000 of fundraising, and asked for more information. ility of raising $1,000,000. Ms. McDermott stated that the LAHA funds would be part of that. She commented that they have begun to work with community partners, noting that in one weekend with Northgate Church, they were able to raise $25,000. She felt confident that their trade partners, grants, and independent funding would be successful. She commented on the fundraising they would do to reach that goal before the end of the year. Economic Development Authority/ June 11, 2026 Page 3 of 11