Laserfiche WebLink
Attachment 2 <br />Current suite of HRA levy programming <br />Housing ProgramsRedevelopment Programs <br />Affordable Housing infrastructure Critical Corridors – Development + <br />InvestmentsInfrastructure; <br />FirstHome Down payment assistance CC Suburban Commercial Corridor Initiative* <br />Suburbs only <br />Emerging & Diverse Developers ProgramCritical Corridors Planning <br />Site Assessment Grants <br /> <br />nd <br />• HRA 2023 Annual Report – Highlights (2 year of operation) <br />• Affordable Housing Investments. $6.15M of HRA levy obligated to affordable housing projects in <br />2023. Across all funding streams, County invested in the construction of 1,365 new and 767 <br />preserved rental housing units in 2023. Of the total, 988 were classified as deeply affordable for <br />residents earning at or below 30% Area Median Income. <br />• FirstHome Down Payment Assistance. Of the 27 closings, 25 were first-generation homebuyers. <br />• Emerging & Diverse Developers (EDD). EDD is a two-part program initiated in second half of <br />2023. <br />• Part A is provides technical assistance and cohort group learning to strengthen the <br />pipeline of local emerging and diverse developers in real estate. 48 developers received <br />technical assistance in 2023. <br />• Part B is a solicitation for projects led by EDD. County invested $3.1 million (across all <br />funding) into projects led by EDD. <br />ritical Corridors. Assisted 10 qualifying applicants/projects with $2.1 million in Housing & <br />• C <br />Redevelopment Authority levy funding for place-based investments in three core areas: pre- <br />development planning, commercial corridor initiatives (suburban only) and development and <br />infrastructure <br />• Site Assessment Grants. Program initiated in late fall 2023. Already supported 8 projects with <br />site investigation (one project in 2023). <br /> <br />• HRA 2022 Annual Report – Highlights (1st year of operation) <br />• Affordable Housing Investments. $7.2M of HRA levy obligated to affordable housing projects in <br />2022. Across all funding streams, Ramsey County leveraged multiple funding sources in 2022 to <br />bring dozens of affordable housing projects closer to realization and invested in the construction <br />of 1,128 new rental housing units and preserved 1,029. Of the total, 571 are classified as deeply <br />affordable for residents earning at or below 30% Area Median Income. <br />n Fall 2022, County relaunched its down payment assistance program to better align <br />• FirstHome. I <br />with market realities and offer first-time and first-generation homebuyers with down payment <br />assistance. $187,500 in down payment assistance loans disbursed in 2022. <br />stablished in the Fall 2022, 14 grants in its first round of solicitations, totaling <br />• Critical Corridors. E <br />roughly $2.3 million in three core areas: pre-development planning, development and <br />infrastructure, and commercial corridor initiatives. <br /> <br />Will this change result in Ramsey County shifting its focus from supporting the preservation and expansion of <br />deeply affordable housing? <br />A: No. Ramsey County remains focused on the improving affordable housing infrastructure throughout the <br />county. The MN Legislature made unprecedent investments in housing and housing infrastructure as part of the <br />2023 Legislative session. The Local Affordable Housing Aid (LAHA) or housing sales tax is estimated to bring <br />Qbhf!53!pg!65 <br /> <br />