CCP 07-20-1995 - Laserfiche WebLink

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~, I Livable Communities Act (Chapter 255) This began as SF 1019/HF 1156. .1 At the core of this law is the Local Housing Incentives Program, Only those municipalities I participating in this program are eligible to receive funds from and participate in the other programs established under this act Participation in the Local Housing Incentives Program is I also required for a municipality to tap other state funding tor cleanup of contaminated lands. To a large degree, the Housing Incentives Program is a voluntary version of Orfield's tax- I based sharing program. Under the program, participating municipalities must negotiate affordable and life-cycle housing goals with the Met Council. At the same time, that portion of the community's property tax attributabie to certain high value housing is designated for the - creation and maintenance of affordable and life-cycie housing, Those municipalities not meeting their goals will have to distribute this money to either the Local Housing Incentive Account (for distribution to other municipalities) or to the housing and redevelopment authority operating in their jurisdiction, - Participants in the Local Housing Incentives Program are eligible to receive funding through the Metropolitan Livable Communities Fund, This fund consists of the following accounts: I The Tax Base Revitalization Account. This account is to be used to provide funds for the cleanup of polluted land in the metropolitan area, Grants are to be given for . projects that provide the highest retum in public benefits for the public costs incurred, that encourage commercial and industrial development that will preserve or create .. living-wage jobs, and that enhance the tax base of the recipient municipality, The Livable Communities Demonstration Account. This account is to be used to fund livable community demonstration projects, These projects must: I . interrelate development or redevelopment and transit . interrelate affordable housing and employment growth areas - intensify land use to achieve more compact development or redevelopment; - - involve development or redevelopment that mixes residents of various incomes, including introducing higher value housing in lower income areas; - encourage public infrastructu re investments connecting urban neighborhoods - and suburban communities. attract adjacent private sector development, and provide residents of the project area with expanded opportunities for private employment. The Local Housing Incentives Account. Funds in this account are to be distributed to .. participating municipalities that have not met their affordable and life-cycle housing goals but are activeiy attempting to do so, All funds distributed through this account I must be matched by local funds, The account is funded in part by participating municipalities which have not met their life-cycle and affordable. housing goals, The Metropolitan Council is responsible for distributing the Metropolitan Livable Communities I Fund, To that end, the Council is required to encourage the creation and maintenance of living-wage jobs in the fully-developed area; creale incentives for develooing communities to .- provide a lull range of housing; create incentives for preserving and rehabiiitaling affordable housing in the fully developed area; and create incentives for communities to implement compact and efficient development. I 5 .