2025-07-29T17:44:59-05:00 2024-12-31 411647057 MAHONEY ULBRICH CHRISTIANSEN & RUSS PA 10 RIVER PARK PLAZA SUITE 800 SAINT PAUL MN 55107 990 2024-01-01 412019107 WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST WEST 9524017071 5100 THIMSEN AVENUE 120 MINNETONKA MN 55345 BRENDA LANO-WOLKE EXECUTIVE DIRECTOR 9524017071 2025-07-23 1 1 MARC A KOTSONAS P00544551 6512276695 2025-07-23 2024 2025-03-06 01:10:19Z HOMES WITHIN REACH BRENDA LANO-WOLKE 5100 THIMSEN AVENUE 120 MINNETONKA MN 55345 6424432 0 X WWW.HOMESWITHINREACH.ORG X 2001 MN THE ORGANIZATION PROVIDES PERMANENTLY AFFORDABLE HOUSING OWNERSHIP OPPORTUNITIES FOR LOW TO MODERATE INCOME FAMILIES WITHIN SUBURBAN HENNEPIN COUNTY. 8 8 4 8 0 0 4354281 2852871 419977 365306 -853001 -849837 0 0 3921257 2368340 0 0 0 0 264627 313568 0 0 39915 87863 114353 352490 427921 3568767 1940419 27468416 32698664 4273610 7563439 23194806 25135225 X WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST (WHAHLT) DBA HOMES WITHIN REACH (HWR) WAS CREATED IN MAY 2001; A COMMUNITY LAND TRUST WHOSE SERVICE AREA IS THE 44 COMMUNITIES OF SUBURBAN HENNEPIN COUNTY; AND CURRENTLY ACTIVE IN FOURTEEN (14) COMMUNITIES. WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST VISION IS TO TRANSFORM PEOPLE'S LIVES THROUGH HOMEOWNERSHIP. THE MISSION IS TO USE THE COMMUNITY LAND TRUST PRACTICE TO PROVIDE AFFORDABLE HOMEOWNERSHIP FOR WORKING FAMILIES THAT WOULD BE OTHERWISE UNABLE TO PURCHASE A HOME IN SUBURBAN HENNEPIN COUNTY, OFFERING BOTH COMMUNITIES AND HOMEBUYERS THE ABILITY TO SUSTAIN PERMANENTLY AFFORDABLE HOMEOWNERSHIP. 0 0 237376 -512286 HOUSING IS A MULTIPLIER, A BASIC NEED THAT IMPACTS EVERY PART OF LIFE: EDUCATION, HEALTH AND ECONOMIC SUCCESS. HWR HAS WITNESSED FIRST-HAND HOW HOMEOWNERSHIP FOR WORK-FORCE FAMILIES STABILIZES LIVES, ENABLES GREATER COMMUNITY AND ECONOMIC PARTICIPATION, AND BUILDS ASSETS. HWR ACQUIRES THE OWNERSHIP OF REAL PROPERTY, REHABILITATING AND THEN SELLING THE IMPROVEMENTS (HOME) TO HOMEOWNERS EARNING LESS THAN 80% AREA MEDIAN INCOME. THIS ARRANGEMENT BETWEEN THE HOMEOWNER AND HWR PROTECTS HOUSING AFFORDABILITY IN PERPETUITY BY ENSURING THAT THE HOME IS AFFORDABLE FOR LOW TO MODERATE INCOME WORKFORCE HOUSEHOLDS UPON THE SALE AND FUTURE SALES OF A SINGLE-FAMILY HOME.AS OF DECEMBER 31, 2024, WHAHLT HAS PLACED 220 PROPERTIES INTO ITS TRUST SINCE IT BEGAN CREATING AND PRESERVING AFFORDABLE HOMEOWNERSHIP AND HAS ASSISTED 260 FAMILIES, WITH AN AVERAGE AREA MEDIAN INCOME OF 57.7%, IN PURCHASING A HOME IN THE COMMUNITIES OF BLOOMINGTON, BROOKLYN PARK, CRYSTAL, DEEP HAVEN, EDINA, EDEN PRAIRIE, GOLDEN VALLEY, LONG LAKE, MAPLE GROVE, MINNETONKA, NEW HOPE, ORONO, PLYMOUTH, RICHFIELD, ST. LOUIS PARK AND WAYZATA. THE REASON FOR GROWING IN THESE SPECIFIC COMMUNITIES IS THAT EITHER THESE CITIES DEMONSTRATED A WILLINGNESS OR DESIRE TO HAVE THE CLT PROGRAM IN THEIR COMMUNITY OR OUR POOL OF BUYERS HAD A DESIRE TO LIVE IN ONE OF THESE COMMUNITIES. THE PROGRAM OFFERS AN OPPORTUNITY FOR WORKFORCE HOUSEHOLDS TO BECOME HOMEOWNERS, WHICH IN TURN STABILIZES THE FAMILY UNIT, ADDS VALUE TO THE COMMUNITY WHERE THEY WORK OR LIVE, BY INCREASING THE LABOR POOL TO LOCAL BUSINESSES, ADDING NEW FAMILIES TO THE COMMUNITY, PRESERVING AND REHABILITATING OF EXISTING HOUSING STOCK AND PROVIDING A MECHANISM TO INVEST IN LONG TERM AFFORDABLE HOMEOWNERSHIP, THEREBY LINKING HOUSING WITH JOBS, TRANSIT AND SUPPORT SERVICES.IN 2024 HWR ADDED 15 HOMES IN 10 COMMUNITIES. ADDING HOMES IS LONG LAKE AND ORONO HAS RAISED OUR "COMMUNITIES SERVED" TO 16 COMMUNITIES. OTHER NOTABLE HIGHLIGHTS FOR 2024 WERE; ADDING ADDITIONAL HOMES IN OTHER COMMUNITIES DUE TO INCREASED FUNDING DOLLARS. EDEN PRAIRIE RECEIVED MET COUNCIL FUNDING WHICH ALLOWED US TO PURCHASE, REHAB AND RESELL INTO THE PROGRAM 2 HOMES INSTEAD OF ONE. ST. LOUIS PARK ALSO INCREASED FUNDING TO ALLOW FOR 3 HOMES TO BE ADDED IN THEIR COMMUNITY INSTEAD OF 2. WE ALSO RECEIVED A HOME IN GOLDEN VALLEY WHICH WAS BUILT BY TWIN CITIES HABITAT FOR HUMANITY AS PART OF THE PARTNERSHIP WITH THE CITY TO BUILD NEW CONSTRUCTION HOMES ON CITY OWNED LOTS WHICH WILL BE PLACED IN THE HWR CLT PORTFOLIO. THE PARTNERSHIP WILL RESULT IN 20 NEW CONSTRUCTION HOMES IN GOLDEN VALLEY OVER THE NEXT 5 YEARS. WE ALSO NEGOTIATED 5 RESALES OF HOMES IN THE PORTFOLIO. 2024 BROUGHT SIGNIFICANT GROWTH AND OPPORTUNITY FOR WEST HENNEPIN AFFORDABLE HOUSING LAND TRUST, DBA, HOMES WITHIN REACH (HWR) CREATING AND PRESERVING LONG-TERM AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES FOR WORK-FORCE HOUSEHOLDS WHO PROVIDE ESSENTIAL SERVICES TO HENNEPIN COUNTY SUBURBAN COMMUNITIES. SERVICE PROVIDERS SUCH AS TEACHERS, MUNICIPAL WORKERS, RETAIL STAFF, OFFICE PERSONNEL, FOOD SERVICE, CUSTOMER SERVICE REPRESENTATIVES, MEDICAL SUPPORT STAFF AND MANY MORE, WHO ARE UNABLE TO PURCHASE A HOME IN THE COMMUNITIES WHERE THEY WORK AND LIVE. 237376 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 16 0 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MN X THE ORGANIZATION 9524017071 5100 THIMSEN AVENUE SUITE 120 MINNETONKA MN 55345 NOEL KLINNERT PRESIDENT 1.00 X X 0 0 0 BARRETT ANDERSON VICE PRESIDENT 1.00 X X 0 0 0 BRAD WIERSUM TREASURER 1.00 X X 0 0 0 BRENT MALCOM SECRETARY 1.00 X X 0 0 0 ROBERT GALLO BOARD MEMBER 1.00 X 0 0 0 JESSICA BRUE BOARD MEMBER 1.00 X 0 0 0 BELETE AEBA BOARD MEMBER 1.00 X 0 0 0 BOB AUSTIN BOARD MEMBER 1.00 X 0 0 0 BRENDA LANO-WOLKE EXECUTIVE DIRECTOR 40.00 X 102008 0 12120 102008 0 12120 1 0 0 0 RANDY KIRSCH CONSTRUCTION LLC 47560 280TH STREET GAYLORD MN 55334 CONSTRUCTION SERVICES 467960 TJU CONSTRUCTION INC 14400 WOODHAVEN RD MINNETONKA MN 553452358 CONSTRUCTION SERVICES 290928 BDU INC 6686 HOPI ROAD CHANHASSEN MN 55317 CONSTRUCTION SERVICES 271184 3 2434910 417961 350000 2852871 DEVELOPER FEES 531390 181400 181400 HOME BUYER CLOSING FEES 531390 106000 106000 LAND LEASE FEES 531390 74986 74986 MISCELLANEOUS 531390 2920 2920 365306 27755 27755 3178500 4056092 -877592 -877592 -877592 2368340 -512286 0 27755 114128 60064 27032 27032 159070 109089 46973 3008 8481 4327 2133 2021 11917 6553 5364 19972 12247 5544 2181 176 176 18810 4526 13934 350 7244 4535 2709 6412 918 5430 64 2915 1787 809 319 33563 20581 9317 3665 3691 2263 1025 403 5569 5569 104 64 29 11 12744 12744 MISCELLANEOUS 11133 16 11117 EQUIPMENT REPAIR/RENTAL 7888 4837 2190 861 BOARD DEVELOPMENT 4104 4104 427921 237376 150630 39915 158533 224585 730366 685426 1431514 2127310 2264284 4221154 26316 11094 104 104 104 0 22819800 25249800 37499 179295 27468416 32698664 349083 651905 600000 1240000 2873925 4484081 450602 1187453 4273610 7563439 X 23194806 25135225 23194806 25135225 27468416 32698664 1940419 0 X X 0 1 X 1 1 1 X 1584837 2610151 3086041 4354281 2852871 14488181 1584837 2610151 3086041 4354281 2852871 14488181 14488181 64 575 6833 23130 27755 58357 14546538 14754623 0.99600 0.99770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 104 104 0 0 LAND HELD IN TRUST 25249800 C 25249800 PREPAID RENT 6994 REFUNDABLE ADVANCES 1002864 LEASE LIABILITY 177595 1187453 X 6424432 4056092 4056092 2368340 0 2368340 4484013 4056092 4056092 427921 0 427921 PART X, LINE 2: THE LAND TRUST IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE INCOME TAX RETURNS FOR A PRIOR OF THREE YEARS AFTER THEY ARE FILED. THE LAND TRUST EVALUATES ALL SIGNIFICANT TAX POSITIONS AS REQUIRED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. AS OF DECEMBER 31, 2024, MANAGEMENT DOES NOT BELIEVE THEY HAVE TAKEN ANY POSITIONS THAT WOULD REQUIRE THE RECORDING OF ANY ADDITIONAL TAX LIABILITY, NOR DOES IT BELIEVE THAT THERE ARE ANY UNREALIZED TAX BENEFITS THAT WOULD EITHER INCREASE OR DECREASE WITHIN THE NEXT YEAR. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT PROPERTY COSTS 3,706,092. IN-KIND DIRECT PROPERTY COSTS 350,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT PROPERTY COSTS 3,706,092. IN-KIND DIRECT PROPERTY COSTS 350,000. X 2 350000 APPRAISAL VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERSHIP OF THE TRUST CONSISTS OF SUPPORTING MEMBERS, LEASEHOLD MEMBERS, AND GENERAL MEMBERS. THE LEASEHOLD AND GENERAL MEMBERS ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE AND THEN IT IS PRESENTED TO THE BOARD FOR REVIEW AND THEIR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND STAFF ANNUALLY COMPLETE THE WRITTEN POLICY AND IT IS REVIEWED BY THE BOARD AND HANDLED ACCORDINGLY. NO ISSUES TO DATE. FORM 990, PART VI, SECTION B, LINE 15A OFFICERS COMPENSATION IS DETERMINED DURING END OF THE YEAR BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.