2023-11-15T17:50:49-05:00 2022-12-31 410738189 LETHERT SKWIRA SCHULTZ & CO LLP 170 7TH PL E STE 100 SAINT PAUL MN 551012361 990 2022-01-01 411753148 THE RONDO COMMUNITY LAND TRUST ROND 6512219884 1041 SELBY AVE ST PAUL MN 55104 MIKEYA GRIFFIN EXECUTIVE DIRECTOR 6512219884 2023-10-18 true MIKEYA GRIFFIN 999009999 false ANGIE M AGREY CPA P01345037 6512245721 2023-11-14 2022 2023-04-26 12:10:37Z X MIKEYA GRIFFIN 626 SELBY AVE ST PAUL MN 55104 2961756 false X RONDOCLT.ORG X 1993 MN TO STRENGTHEN COMMUNITIES BY PROVIDING PERMANENTLY AFFORDABLE, SUSTAINABLE HOUSING FOR FAMILIES AND INDIVIDUALS AT OR BELOW 80% OF THE AREA MEDIAN INCOME; AND, TO PROMOTE THE LAND TRUST MODEL AS A METHOD OF PRESERVING AFFORDABLE HOUSING. 12 12 7 12 0 668684 2873919 137554 87012 727 825 0 806965 2961756 0 0 223589 323341 0 21375 245827 1091275 469416 1414616 337549 1547140 4880332 6317796 1270989 1161313 3609343 5156483 X TO STRENGTHEN COMMUNITIES BY PROVIDING PERMANENTLY AFFORDABLE, SUSTAINABLE HOUSING FOR FAMILIES AND INDIVIDUALS AT OR BELOW 80% OF THE AREA MEDIAN INCOME; AND, TO PROMOTE THE LAND TRUST MODEL AS A METHOD OF PRESERVING AFFORDABLE HOUSING. false false 900354 2884797 THE ORGANIZATION, A COMMUNITY LAND TRUST (CLT), ACHIEVES PERMANENT, LONG- TERM HOUSING AFFORDABILITY THROUGH THE USE OF A GROUND LEASE. CLT HOMEBUYERS PURCHASE ONLY THE HOUSE, AND ENTER INTO A 99-YEAR GROUND LEASE WITH THE ORGANIZATION FOR THE EXCLUSIVE USE OF THE LAND. THE ORGANIZATION'S GROUND LEASE STATES THAT WHEN A HOMEOWNER DECIDES TO SELL THEIR HOME, THE HOUSE IS SOLD TO ANOTHER LOW-TO-MODERATE INCOME HOUSEHOLD FOR THE ORIGINAL PURCHASE PRICE PLUS 25% OF ANY APPRECIATION IN THE HOME'S VALUE. BY LIMITING MARKET APPRECIATION, PERMANENT AFFORDABILITY IS ENSURED AND INITIAL SUBSIDIES INVESTED IN MAKING THE HOME AFFORDABLE ARE SPREAD ACROSS GENERATIONS OF LOW-TO-MODERATE INCOME HOMEBUYERS. MOST IMPORTANTLY, THIS AFFORDABLE HOUSING OPTION GIVES HOUSEHOLDS THAT COULD OTHERWISE ONLY AFFFORD TO RENT THE OPPORTUNITY TO TAKE ADVANTAGE OF ALL OF THE BENEFITS OF HOMEOWNERSHIP; STABILITY, SECURITY, TAX BENEFITS, AND THE OPPORTUNITY TO EARN EQUITY AND APPRECIATION IN REAL ESTATE THAT IS NOT AVAILABLE THROUGH RENTING. 300118 76963 THE RONDO COMMUNITY LAND TRUST (RONDO CLT) CREATED THE RONDO DEVELOPMENT ON SELBY LLC - A SUBSIDIARY LIMITED LIABILITY CORPORATION FOR THE SELBY MILTON VICTORIA (SMV) COMMERCIAL LAND TRUST AND SENIOR HOUSING PROJECT ON SELBY AVENUE. RONDO CLT, ALONG WITH ITS PARTNER COMMUNITY HOUSING DEVELOPMENT CORPORATION (CHDC), DEVELOPED TWO MIXED-USE COMMERCIAL/RESIDENTIAL BUILDINGS. THESE BUILDINGS PROVIDE LONG-TERM AFFORDABLE COMMERCIAL SPACE FOR SMALL, LOCAL, AND MINORITY OWNED BUSINESSES ALONG WITH AFFORDABLE SENIOR HOUSING. THE BUILDINGS ARE LOCATED AT 852 SELBY AND 940 SELBY IN ST. PAUL. THERE ARE A TOTAL OF 34 UNITS OF LOW-INCOME SENIOR HOUSING. THE THIRTY-FOUR UNITS OF AFFORDABLE SENIOR HOUSING WILL BE BUILT ON THE TOP TWO FLOORS OF THESE BUILDINGS, AND WERE FINANCED BY A COMBINATION OF DEFERRED LOANS AND LOW INCOME HOUSING TAX CREDITS. THE UNITS ARE AFFORDABLE TO THOSE AT 30% TO 60% OF THE AREA MEDIAN INCOME. THE AFFORDABILITY WILL BE SECURED WITH RESTRICTIVE COVENANTS. THERE IS 9,300 SQUARE FEET OF COMMERCIAL SPACE. THERE ARE FIVE COMMERCIAL SPACES AND TWO LIVE WORK UNITS. THE HOUSING PORTION OF THIS PROJECT IS OWNED BY THE CHDC RONDO LIMITED PARTNERSHIP. RONDO DEVELOPMENT ON SELBY LLC IS A CO-GENERAL PARTNER IN THIS LIMITED PARTNERSHIP. THE COMMERCIAL PORTION IS FULLY OWNED BY RONDO SUBSIDIARY AS OF JANUARY 1, 2020. 1200472 true true false false false false false false false false true false false false true false true false false false false false false false false false false false false false false false false false false false false false true false false false true false false false false true 1 0 true 7 true false false false false false false false false false false false false false false X 12 12 false false false false true true true true true false false true true true false false false true false false MN X THE ORGANIZATION 6512219884 1041 SELBY AVE ST PAUL MN 55104 MIKEYA GRIFFIN EXECUTIVE DI 40.00 X 80578 0 0 BROOKE BLAKEY DIRECTOR 1.00 X 0 0 0 CHARLES BRADLEY PRESIDENT 1.00 X X 0 0 0 SHANNON BRUNETTE DIRECTOR 1.00 X 0 0 0 ANA CRUZ DIRECTOR 1.00 X 0 0 0 KRYSTAL D'ALENCAR DIRECTOR 1.00 X 0 0 0 TRISH DEANDA TREASURER 1.00 X 0 0 0 MELVIN GILES DIRECTOR 1.00 X 0 0 0 JESSICA JAMES DIRECTOR 1.00 X 0 0 0 TAMEKA JONES DIRECTOR 1.00 X 0 0 0 RALONDA MCKINLEY DIRECTOR 1.00 X 0 0 0 PARIS SERVIN-GONZALEZ SECRETARY 1.00 X 0 0 0 KATE SPEED DIRECTOR 1.00 X 0 0 0 80578 false false false 655413 2218506 1018300 2873919 RENTAL INCOME 72643 72643 DEVELOPER FEES 14969 14969 LEASE FEES -600 -600 87012 825 825 2961756 87012 825 259628 231068 23367 5193 43678 38873 3931 874 20035 17831 1803 401 2250 2003 202 45 91843 87251 4592 37876 7575 29543 758 24065 16846 6016 1203 110994 77695 27749 5550 189 133 47 9 563 394 141 28 5305 3714 1326 265 86835 86835 8765 6136 2191 438 HOUSING GRANT 655413 655413 BAD DEBT 21130 21130 RENTAL - REPAIRS AND MAIN 17879 13409 3576 894 MISCELLANEOUS 8079 5655 2020 404 20089 15762 3606 721 1414616 1200472 192769 21375 660143 798201 358000 1964 3311 21085 21085 84381 162775 5117801 324982 3896657 4792819 32193 29556 183909 152049 4880332 6317796 118997 85365 921668 921668 85324 79280 145000 75000 1270989 1161313 X 1773411 2730583 1835932 2425900 3609343 5156483 4880332 6317796 1547140 X false true X true false X 647611 149078 205640 668684 2873919 4544932 647611 149078 205640 668684 2873919 4544932 4544932 727 825 1552 4546484 971934 0.99970 0.99970 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1718674 1718674 3305249 274125 3031124 93878 50857 43021 4792819 LOAN-OTTO BREMER 75000 75000 2961756 2961756 2961756 1414616 1414616 1414616 X 1 948300 X 1 70000 false false false FORM 990 - ORGANIZATION'S MISSION TO STRENGTHEN COMMUNITIES BY PROVIDING PERMANENTLY AFFORDABLE, SUSTAINABLE HOUSING FOR FAMILIES AND INDIVIDUALS AT OR BELOW 80% OF THE AREA MEDIAN INCOME; AND, TO PROMOTE THE LAND TRUST MODEL AS A METHOD OF PRESERVING AFFORDABLE HOUSING. FORM 990, PART III IN 2019, RONDO SECURED FUNDS NEEDED FOR THE SMV PROJECT COMMERCIAL BUILD- OUT AND TENANT LEASE WRITE DOWN. THE FUNDS WILL ALLOW RONDO TO KEEP THE COMMERCIAL TENANT LEASES AFFORDABLE OVER THE LONG TERM. THESE FUNDS SECURED ARE TO COVER A ONETIME EXPENSE FOR THE SMV PROJECT. RONDO DOES NOT EXPECT TO RECEIVE SIMILAR FUNDING GOING FORWARD. FORM 990, PAGE 2, PART III, LINE 4A THE ORGANIZATION, A COMMUNITY LAND TRUST (CLT), ACHIEVES PERMANENT, LONG- TERM HOUSING AFFORDABILITY THROUGH THE USE OF A GROUND LEASE. CLT HOMEBUYERS PURCHASE ONLY THE HOUSE, AND ENTER INTO A 99-YEAR GROUND LEASE WITH THE ORGANIZATION FOR THE EXCLUSIVE USE OF THE LAND. THE ORGANIZATION'S GROUND LEASE STATES THAT WHEN A HOMEOWNER DECIDES TO SELL THEIR HOME, THE HOUSE IS SOLD TO ANOTHER LOW-TO-MODERATE INCOME HOUSEHOLD FOR THE ORIGINAL PURCHASE PRICE PLUS 25% OF ANY APPRECIATION IN THE HOME'S VALUE. BY LIMITING MARKET APPRECIATION, PERMANENT AFFORDABILITY IS ENSURED AND INITIAL SUBSIDIES INVESTED IN MAKING THE HOME AFFORDABLE ARE SPREAD ACROSS GENERATIONS OF LOW-TO-MODERATE INCOME HOMEBUYERS. MOST IMPORTANTLY, THIS AFFORDABLE HOUSING OPTION GIVES HOUSEHOLDS THAT COULD OTHERWISE ONLY AFFFORD TO RENT THE OPPORTUNITY TO TAKE ADVANTAGE OF ALL OF THE BENEFITS OF HOMEOWNERSHIP; STABILITY, SECURITY, TAX BENEFITS, AND THE OPPORTUNITY TO EARN EQUITY AND APPRECIATION IN REAL ESTATE THAT IS NOT AVAILABLE THROUGH RENTING. FORM 990, PAGE 2, PART III, LINE 4B THE RONDO COMMUNITY LAND TRUST (RONDO CLT) CREATED THE RONDO DEVELOPMENT ON SELBY LLC - A SUBSIDIARY LIMITED LIABILITY CORPORATION FOR THE SELBY MILTON VICTORIA (SMV) COMMERCIAL LAND TRUST AND SENIOR HOUSING PROJECT ON SELBY AVENUE. RONDO CLT, ALONG WITH ITS PARTNER COMMUNITY HOUSING DEVELOPMENT CORPORATION (CHDC), DEVELOPED TWO MIXED-USE COMMERCIAL/RESIDENTIAL BUILDINGS. THESE BUILDINGS PROVIDE LONG-TERM AFFORDABLE COMMERCIAL SPACE FOR SMALL, LOCAL, AND MINORITY OWNED BUSINESSES ALONG WITH AFFORDABLE SENIOR HOUSING. THE BUILDINGS ARE LOCATED AT 852 SELBY AND 940 SELBY IN ST. PAUL. THERE ARE A TOTAL OF 34 UNITS OF LOW-INCOME SENIOR HOUSING. THE THIRTY-FOUR UNITS OF AFFORDABLE SENIOR HOUSING WILL BE BUILT ON THE TOP TWO FLOORS OF THESE BUILDINGS, AND WERE FINANCED BY A COMBINATION OF DEFERRED LOANS AND LOW INCOME HOUSING TAX CREDITS. THE UNITS ARE AFFORDABLE TO THOSE AT 30% TO 60% OF THE AREA MEDIAN INCOME. THE AFFORDABILITY WILL BE SECURED WITH RESTRICTIVE COVENANTS. THERE IS 9,300 SQUARE FEET OF COMMERCIAL SPACE. THERE ARE FIVE COMMERCIAL SPACES AND TWO LIVE WORK UNITS. THE HOUSING PORTION OF THIS PROJECT IS OWNED BY THE CHDC RONDO LIMITED PARTNERSHIP. RONDO DEVELOPMENT ON SELBY LLC IS A CO-GENERAL PARTNER IN THIS LIMITED PARTNERSHIP. THE COMMERCIAL PORTION IS FULLY OWNED BY RONDO SUBSIDIARY AS OF JANUARY 1, 2020. FORM 990, PAGE 6, PART VI, LINE 6 MEMBERSHIP IS OPEN TO RESIDENTS OF RAMSEY COUNTY WHO ARE OVER THE AGE OF 18 AND WHO WANT TO MAKE OWNERSHIP OF QUALITY, PERMANENTLY AFFORDABLE HOMES POSSIBLE FOR OUR WHOLE COMMUNITY. RONDO CLT MEMBERS CREATE HOUSING THAT WILL STAY AFFORDABLE FOR DECADES. FORM 990, PAGE 6, PART VI, LINE 7A RONDO CLT MEMBERS SHAPE THE DIRECTION OF THE ORGANIZATION BY ELECTING THE BOARD OF DIRECTORS. FORM 990, PAGE 6, PART VI, LINE 7B RONDO CLT MEMBERS SHAPE THE DIRECTION OF THE ORGANIZATION BY VOTING AT MEMBERSHIP MEETINGS. FORM 990, PAGE 6, PART VI, LINE 11B THE BOARD RECEIVES A DRAFT OF THE 990 FOR REVIEW PRIOR TO FILING. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD PRESIDENT CONDUCTS AN ANNUAL REVIEW OF THE EXECUTIVE DIRECTOR, PROVIDES BOARD MEMBERS WITH A WRITTEN QUESTIONNAIRE, FOLLOWS UP WITH A PHONE CALL AND PROVIDES THE REPORT TO THE BOARD. THE BOARD THEN DISCUSSES FINDINGS AND SHARES WITH THE EXECUTIVE DIRECTOR. SALARY DATA AVAILABLE FROM THE MINNESOTA COUNCIL OF NONPROFITS AND OTHER SOURCES IS USED TO DETERMINE COMPENSATION. FORM 990, PAGE 6, PART VI, LINE 19 COPIES OF THE ARTICLES OF INCORPORATION, BYLAWS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE FOR REVIEW AT THE ORGANIZATION'S OFFICE, UPON REQUEST. RONDO DEVELOPMENT ON SELBY LLC 1041 SELBY AVENUE SAINT PAUL MN 55105 411753148 RENTAL MN THE RONDO COMMUNITY LAND TRUST