Council awards $1.1 million in affordable housing grants

Contact: Bonnie Kollodge
651.602.1357

ST. PAUL—Dec. 23, 2008—The Metropolitan Council this month awarded $1.1 million in Livable Communities funds to affordable housing programs in Minneapolis and St. Paul, Lexington, Oakdale, Wayzata and White Bear Lake. Of the five developments awarded funding, two are ownership opportunities and three are rental housing developments.

“Given the difficult and challenging economic conditions, the Livable Communities housing grants are an important tool in the creation of affordable housing,” said Council Chair Peter Bell.

Initiatives awarded funding include:

Ownership:

Habitat for Humanity Foreclosure Remediation, Minneapolis--$220,000 toward a partnership between the central cities and Habitat for Humanity to buy foreclosed properties in the two cities, make improvements and re-sell the properties to low- and moderate-income families earning $45,450 or less a year for a family of four. Minneapolis and St. Paul have both identified targeted neighborhoods and specific properties that this project will assist. Council funds will facilitate the purchase and/or improvement of four of the 20 identified units.

Anoka County Manufactured Housing Revitalization, Lexington--$100,000 to support a partnership between the city and Anoka County Community Action Program that will help up to 30 low- and moderate-income families acquire new manufactured homes and fund the buy out of six homes that need to be replaced in the Paul Revere manufactured housing community. Manufactured housing composes about 4,500 units of homeownership in Anoka County, and provides critically affordable housing, especially for larger families.

Rental:

Granada Lake Townhomes, Oakdale--$300,000 to help the city acquire and rehabilitate a 68-unit townhome development. The project provides a unique opportunity to acquire existing market-rate rental housing and, after rehabilitating the units, put them back on the market as affordable housing. Most of the units will be available to households earning $45,450 or less annually for a family of four, and four of the units will be set aside to provide housing to households experiencing long-term homelessness.

Wayzata Gateway, Wayzata--$200,000 to help the city purchase land and build townhomes affordable to families at or below $40,450 annually for a family of four. Four of the units will be reserved for households experiencing long-term homelessness.

Hoffman Place, White Bear Lake--$300,000 to help the city build a 60-unit apartment building with underground parking, leasing office, community room and resident storage. All units will be affordable to households earning $40,450 or less annually for a family of four.

The Council grant awards are part of a larger housing finance initiative that also includes Minnesota Housing and the Family Housing Fund. Together, the three agencies awarded nearly $57 million state-wide to help develop more than 600 new affordable units and rehabilitate more than 900 affordable units.

The Metropolitan Council is the regional planning organization for the seven-county Twin Cities area. The Council runs the regional bus and light rail system, collects and treats wastewater, coordinates regional water resources, plans regional parks and administers funds that provide housing opportunities for low- and moderate-income individuals and families. The Council board is appointed by and serves at the pleasure of the governor.

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