MINNEAPOLIS — The group trying to buy the former Roof Depot warehouse hit a wall, but the plans aren't crumbling. The East Phillips Neighborhood Institute (EPNI) missed a purchase agreement deadline on Monday, and now has 60 days to get their funds organized or the agreement is off the table.
The City of Minneapolis agreed to sell the property to the neighborhood group for $11.4 million. EPNI gathering funds to tallying up to $3.7 million, and the City of Minneapolis secured $2.2 million through the State. Together the city and group lobbied for more funding through grants discussed during the last legislative session.
"The city was very active at the legislature at this past session to help secure the $5.7 million that the Minneapolis delegation was pledging in the deal construct last summer," Erik Hansen, Minneapolis Director of Community Planning and Economic Development.
The funding wasn't passed during the session. Ever since, the neighborhood group has been problems solving trying to fulfill the remain $5.7 million.
"I am confident in the vision," Cassandra Holmes, board member of EPNI, said.
The vision is a vibrant urban farm to replace the eye sore of an old warehouse. The group has been trying to acquire the site for eight years and says they will not give up.
“I can say this, have no fear. We have a plan to go forward. I don’t want to release details with all parties involved," Dean Dovalis, the Minneapolis architect who has worked with the East Phillips group on the project, said.
Dovalis is confident they will be able to reach their goal but can't reveal details yet.
The final deadline is Sept. 14.