2017.04.05 EDC Combined - Laserfiche WebLink

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could work in tandem with existing programs. All four work session packets are provided for review. While some of the information in those packets is outdated, it still provides a fairly accurate representation of the types of programs available and how the City might be able to tap into existing programs to provide more desirable loan products for residents. Currently, the City’s website provides links to existing programs offered through various entities that New Brighton residents have access to (see attached webpage print out). It’s worth noting, the Council never reached a consensus on these items and no programs were ever developed. If the Commission wants to explore this topic further, staff will spend time updating the spreadsheet of the various loan programs available. Staff would also suggest the Center for Energy & Environment (CEE) and/or Minnesota Housing Finance Agency be invited to a meeting to help guide the Commission further, as they are the experts, not City staff. This item also has a budget implication that will have to be explored as well. Remodeling Advisory Services In the 1990’s several cities collaborated on a publication called A Remodeling Planbook for Post-WWII Houses (see attached). This book focused on how to modernize older housing stock and was made available to residents. CEE offers residents access to remodeling advisors as part of some of their loan programs, which is a service similar to this planbook. The City of Fridley, by themselves, engaged in a similar exercise in 1999 developing their own “patternbook”, which outlined home replacement styles. An exercise such as this aims to provide professional design ideas to help residents prepare to improve their homes in a more thoughtful manner. Affordable Housing The topic of affordable housing is timely being the Metropolitan Council is requiring communities to address affordable housing needs within their Comprehensive Plan updates. Because of this, staff would suggest the Commission reserve the affordable housing discussion for a later time, as it will be addressed through the Comprehensive Plan update process. The consultant assisting the City with the Comprehensive Plan update understands there will need to be EDC involvement with this topic and a future meeting will be devoted to it. Staff would also suggest inviting a representative from the Metropolitan Council to a future EDC meeting to discuss the affordable housing need regionally. Market Value Trends At the City Council’s annual teambuilding retreat in 2015, the topic of housing programs was raised again, but more specifically as it related to an old key performance indicator of economic development called blight reduction (since been deleted from the Council’s strategic priorities). During that meeting there were concerns expressed about developing a program without fully understanding a problem of which it was to solve. At that meeting it was determined that staff would undergo a market value trend analysis to determine how housing values were doing generally throughout the City and if there were any “trends” that could be identified. Staff presented the results of this trend analysis to Council at a work session on December 6, 2015. In summary, the exercise revealed that from a market value perspective, New Brighton’s single family housing stock was performing well but duplexes and multi- family housing is declining in value. If there is a desire to develop a program to “solve a problem”, this analysis suggests a focus on multi- family housing and duplexes. However, the earlier 2010-2011 discussions by Council were not under the idea of solving a problem, rather there as a desire to provide services to residents that would make New Brighton a more competitive community to live in.