HomeMy WebLinkAbout~Master - Setting Date of Public Hearing to Approve Option Agreement for Sale of Lot 27 in Baker Subdivision RESOLUTION NO. 23-147
RESOLUTION SETTING DATE OF PUBLIC HEARING TO APPROVE
OPTION AGREEMENT FOR THE SALE OF LOT 27, IN THE BAKER SUBDIVISION
(321 STATE AVENUE)
FOR THE CITY OF AMES,IOWA
WHEREAS, on February 28, 2023, the City Council voted to select the Hatch
Development Group as its partner to develop multi-family rental housing on Lot 27 in Baker
Subdivision. The City Council directed staff to begin preparing agreements to partner on a Low-
Income Housing Tax Credit (LIHTC) application for this project; and,
WHEREAS, in order to meet the LIHTC submittal deadline of April 19, 2023, and adhere
to the transfer of land requirements, it is recommended that the City Council set March 28, 2023,
as the date for the public hearing for the approval of an option for sale of Lot 27 within the Baker
Subdivision to Townhomes at Creekside, LLLP; an Iowa Limited Liability Partnership affiliated
with the Hatch Development Group; and,
WHEREAS, at the March 28, 2023, meeting, staff will present a completed option to
purchase agreement with Townhomes at Creekside, LLLP and a development agreement with
Hatch Development Group. Hatch Development Group will also have an updated site concept plan
completed to address staff comments about access and parking; however, the actual Site
Development Plan and building permit applications will not be prepared unless the developer
receives an award of tax credits; and,
WHEREAS, award of tax credits is expected in August 2023 and then developers would
complete design and site acquisition in the winter with a plan for construction to begin spring of
2024 and a plan for occupancy to begin in the summer of 2025.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that setting March 28,2023, as date of public hearing to approve Option Agreement for the sale of
Lot 27, in the Baker Subdivision(321 State Avenue),to Townhomes at Creekside,LLLP, an Iowa
Limited Liability Partnership, (affiliated with Hatch Development Group) in conjunction with a
Low-Income Housing Tax Credit(LIHTC) application for Multi-Family Housing Development is
hereby approved.
ADOPTED THIS 141h day of March, 2023.
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Renee hall, City Clerk John A. Haila, Mayor
Introduced by: Betcher
Seconded by: Rollins
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Junck, Rollins
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 141h day of March, 2023.