Cordova council approves lease-to-own land deal that requires three new homes

The Cordova City Council voted 7-0 Wednesday to authorize the city manager to lease city-owned land in the original townsite to David Evans with an option to buy. The land is part of Lots 11 through 14 in Block 32. The lease in the meeting packet requires Evans to substantially complete three three-bedroom homes within five years.

The 10-year lease sets rent starting at about $10,250 a year and a purchase price of about $102,500, the minimum the city set. Rent paid counts toward the price if Evans buys within five years. After that, the price is fair market value. He can buy only after completing the homes and filing a redrawn survey map that removes Ski Hill Road from the land.

Evans's proposal set work to start in May 2027 and to finish the three homes in August 2028. Evans wrote that the homes would be "built to be sold as affordable housing," though no record gives a sale price.

Members tied the vote to housing. The Prince William Sound Housing Needs Assessment found Cordova short 20 one-bedroom units and 20 two- to three-bedroom units, according to the resolution authorizing the Housing Supply Accelerator Committee. Alaska News reported Oct. 3 that the town was short at least 40 homes.

No one spoke at a public hearing on the ordinance before the meeting. Mayor Kristin Smith was absent, and Vice Mayor Kasey Kinsman presided. Kinsman said the lease provides housing for the community. "I think we just need to move forward on it," he said. Council Member Debra Adams called the possibility of more housing in Cordova exciting. Council Member Mike Mickelson, who joined online, said the council had already gone over the ordinance and addressed the need for additional housing.

The council passed the ordinance on first reading at its Oct. 21 meeting, when members described Evans as a builder who had shown commitment to community projects.

The city's request for proposals for the four lots received one response, from Evans and partner David Paddock. The Planning Commission recommended it 5-0 in March, and the council approved the proposal 7-0 on April 1. The lease names only Evans.

The city manager will sign the negotiated agreement with Evans once the ordinance takes effect, a month after passage and publication, unless a valid referendum petition filed in that time sends it to a public vote.