City of Missoula
Housing, Redevelopment, and Community Programs Committee Agenda

Meeting #:
Date:
-
Location:
Council Chambers (in person) or TEAMS (virtually)
Attend in person: City Council Chambers, 140 W Pine, Missoula MT
Members:
  • Stacie Anderson, 
  • Mirtha Becerra, 
  • Bob Campbell, 
  • Daniel Carlino, 
  • Sierra Farmer, 
  • Gwen Jones, 
  • Kristen Jordan, 
  • Eric Melson, 
  • Mike Nugent, 
  • Jennifer Savage, 
  • Amber Sherrill, 
  • and Sandra Vasecka 

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1.
ADMINISTRATIVE BUSINESS

  

2.
PUBLIC COMMENT

  

3.
COMMITTEE BUSINESS

  

3.1
Referral - Resolution of Intention to Bond for the Scott Street Ravara Project
Annie Gorski

This item has attachments.  
  • Recommended motion:

    Approve a Resolution Approving the Ravara Project and Infrastructure Improvements as Urban Renewal Projects for the North Reserve-Scott Street Urban Renewal District; Making Findings with Respect Thereto; and Declaring the Intention of the City to use Tax Increment Revenues or Tax Increment Revenue Bonds to Pay, Reimburse, or Finance Eligible Costs Thereof.

3.2
Scott Street Workforce Housing Project Agreements
John Adams

This item has attachments.  

Consideration of the Development Agreement, loan agreement, disposal of City-owned property and other steps necessary to commence construction on the Scott Street Workforce Housing Project.

  • Recommended motion:

    A Resolution authorizing the donation of a portion of the Scott Street Parcel and authorizing the use of another adjacent portion of the Scott Street Parcel as security for the construction financing for a public-private partnership to build a residential construction project incorporating workforce housing on the donated portion of the Scott Street Parcel.

  • Recommended motion:

    That Council approve and direct the Mayor to execute the Development Agreement relative to Tract 2, Scott Street Lots, Lot 3, between the City and Ravara Development, LLC, presented here as Exhibit B to the Donation Agreement, memorializing the Parties’ respective rights and obligations concerning Tract 2, and for certain covenants and obligations to run with the land, including, among other things, an activity space easement for the use of a portion of Tract 3, Scott Street Lots, Lot 3, by the residents of the Tract 2.

  • Recommended motion:

    That Council affirm that the Amended and Restated Purchase and Sale Agreement for Tract 3, Scott Street Lots, Lot 3, between the City and Scott Street Parcel, LLC, for the purchase price of $1,640,818, together with the “Repurchase Agreement,” conforms to Council’s intent and direction articulated in Resolution 8496.

  • Recommended motion:

    That Council approve the utilization of the proceeds from the execution of that aforementioned Purchase and Sale Agreement to fund a construction loan dedicated to the development of housing on the Community Land Trust parcel identified in Resolution 8496, notwithstanding Municipal Code 3.24.040(C) directing revenue from the sale of City land and assets to the City’s Affordable Housing Trust Fund.

  • Recommended motion:

    That Council approve and direct the Mayor to negotiate and execute a loan agreement between City of Missoula and Ravara Development, LLC, to fund construction of housing on Tract 2, Scott Street Lots, Lot 3, in approximately the form shown in the attached Exhibit, together with any documents or agreements necessary with First Security Bank to integrate administration of the City loan into the overall construction financing portion of the project, subordinate the loan as agreed between the City and First Security Bank, and affirm that final loan repayments, upon completion of the project, should be used to create additional income qualified units or be directed to the City’s Affordable Housing Trust Fund.

4.
ADJOURNMENT

  
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