FINANCIAL_SERVICESAMENDED

Edina Housing & Redevelopment Authority Meeting Agenda May 2026

Edina Extends Home Preservation Agreement With Land Trust

$3,000,000 line of credit (shared program with TCHFH)City of EdinaWEST HENNEPIN AFFORDABLE HOUSING LAND TRUST DBA HOMES WITHIN REACHMay 14, 2026

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Description

Edina’s Housing & Redevelopment Authority approved a first amendment to its Home Preservation Line of Credit Program, extending the five‑year term for the shared $3 million facility with Homes Within Reach and Twin Cities Habitat for Humanity. Homes Within Reach will continue to place acquired properties into a land trust and execute 99‑year ground leases to ensure long-term affordability.

Contract Details

Contract Amount

$3,000,000 line of credit (shared program with TCHFH)

Vendor

WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST DBA HOMES WITHIN REACH

Agency

City of Edina, MN

Contract Type

FINANCIAL_SERVICES

Document Date

May 14, 2026

Contract Term

Extended from 3 to 5 years from April 13, 2023

Renewal Date

2028-04-13

Renewal Info

First Amendment extends the Agreement’s termination date to five years from the original April 13, 2023 effective date, enabling Homes Within Reach to continue receiving land, placing it into trust, and supporting additional homes beyond the original six.

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