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Metropolitan Council awards housing grants

Grants invest in housing affordability in Minneapolis, St. Paul, Oakdale, Bloomington, Farmington, Maplewood, Waconia, Edina, Eden Prairie, Minnetonka, Maple Grove, Richfield, St. Louis Park and Wayzata.

ST. PAUL—Dec. 13, 2006--The Metropolitan Council on Dec.12 awarded nearly $1.9 million of Livable Communities funds for affordable housing initiatives in metro-area communities. The funds will lend support to three ownership and six rental programs and provide nearly 300 new or rehabilitated homes to families who are not able to pay market rates for housing.

“What’s so impressive about these grants is the amount of money they leverage in other public and private investment,” said Council Chair Peter Bell. “Every dollar of these Livable Communities grants leverages nearly $18 in private investment and an additional $10 in other public investment. It’s a good investment, providing safe, affordable housing to low- and moderate-income residents in the metro area.”

Grants for ownership housing

• Invest Saint Paul, St. Paul--$200,000 to help the city finance its Block-by-Block Renewal program designed to preserve existing housing, helping owner families to affordably maintain their properties.
• Red Oak Preserve, Oakdale--$100,000 to help finance construction of five single-family, owner-occupied homes in Red Oak Preserve, a 126-unit housing development on the site of a former manufactured home park.
• Homes Within Reach--$150,000 to the City of Minnetonka to help pay for land acquisition and other expenses related to the purchase and rehabilitation of new and existing homes in western Hennepin County suburbs, including Edina, Eden Prairie, Minnetonka, Maple Grove, Richfield, St. Louis Park and Wayzata. The homes will become part of the West Hennepin Affordable Housing Land Trust.

Grants for rental housing

• The Crossings at Valley View, Bloomington--$250,000 to help with financing for a 50-unit, 4-story apartment building on the site of a former mobile home park. The complex is part of a larger housing plan, including nearby senior housing and single-family residences.
• Twin Ponds, Farmington--$210,000 in funding assistance for construction of 25 new townhomes, which will be owned and managed by the Dakota County Community Development Agency.
• Maple Village, Maple Grove--$275,000 to help finance the construction of a 54-unit apartment building. The 3-acre site is currently vacant and surrounded by single-family homes and some natural amenities.
• Trails Edge, Maplewood--$300,000 to help finance construction of 48 townhome-style units at the intersection of Century and Larpenteur Avenues. The housing is part of a larger redevelopment project on the 34-acre St. Paul Monastery Campus, which will include senior housing and a shelter for victims of family violence.
• Alliance Scattered Site Rehab, Minneapolis--$193,000 to help with financing on a capital campaign to renovate and stabilize a number of scattered site properties in the city, including duplexes and an 8-plex, to guarantee their continued use and livability and maintain affordability.
• InterLaken Place, Waconia--$211,806 to help finance construction of a 48-unit apartment building in the southeastern part of the city. The building is part of a project that includes housing, retail and green space.

The Council grant awards are part of a larger housing finance effort that also includes Minnesota Housing and the Family Housing Fund. The three agencies together this funding round awarded $46.6 million in the metro area towards efforts to make housing affordable.

The combined efforts of the funding partners will help create nearly 1,000 new housing units and rehabilitate and preserve 500 affordable units.

The Metropolitan Council is the regional planning organization for the seven-county Twin Cities area. It 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 is appointed by and serves at the pleasure of the Minnesota Governor.