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Community Assets & <br /> Development Department <br /> <br /> MEMORANDUM <br /> <br /> <br />DATE: July 31, 2017 <br /> <br />TO: Economic Development Commission <br /> <br />FROM: Janice Gundlach, Asst. Director of Community Assets & Development/Planning Director <br /> <br />SUBJECT: Housing Programs <br /> <br />The Economic Development Commission discussed “housing programs” on April 5, 2017. Staff provided <br />copies of various staff memos and materials from 2010-2011 that were products of prior City Council <br />discussions on the topic. Staff notes the following about the April 5th discussion: <br />• Various levels of interest in developing local programs <br />• 2010-2011 information had a different level of relevancy due to the recession and is outdated <br />• Concern regarding creating a solution where there is no problem <br />• Revolving loans vs. subsidies as a matter of policy and in the context of improved availability of <br />private financing <br />• Interest in affordable housing and/or inclusionary housing ordinances <br />• Questions regarding current housing services/programs the City is already involved in <br /> <br />The April discussion was preliminary and revealed no clear paths forward for the Commission. Staff met <br />with Chair Zisla to identify next steps. This memo attempts to move the discussion forward in two ways: <br /> <br />1) Update the 2010-2011 information <br />2) Outline existing economic development initiatives relevant to housing <br /> <br />Update the 2010-2011 information <br />Lauren Wheeler, DCAD Intern, reviewed, created, and updated a spreadsheet regarding the various <br />offerings of metro-area cities and counties surrounding housing programs. Along with the spreadsheet <br />is a memo regarding Lauren’s research. It reveals the following: <br />• There are many programs currently available to New Brighton residents (program titles in blue <br />on spreadsheet). <br />• While there are many low-interest loans, grants and rebates were “few and far between”. <br /> <br />Lauren also provided examples of various programs offerings, summarized different loan categories she <br />observed in her research, and provided an example of the Coon Rapids program that was specifically <br />mentioned during the April discussion. Lauren will be present at the August EDC meeting to help <br />address questions or comments regarding this information. <br /> <br />Existing economic development initiatives relevant to housing – continued on next page <br />