8.1. HRSR 11-04-2019
Request for Action
To Item Number
Housing and Redevelopment Authority 8.1
Agenda Section Meeting Date Prepared by
Work Session November 4, 2019 Colleen Eddy, Economic Development Specialist
Item Description Reviewed by
Blighted Properties Discussion Amanda Othoudt, ED Director
Reviewed by
Cal Portner, City Administrator
Action Requested
Information presented for discussion purposes.
Background/Discussion
At the August 5, 2019, meeting, the HRA discussed two programs the city implemented to improve the
community’s housing stock, the Blighted Properties Residential Forgivable Loan Program and the HRA
Rehabilitation Loan Program.
At their September 3, 2019, meeting, the consensus of the HRA was to continue discussing possible
changes to the Blighted Properties Program. The commission directed staff to look at programs in other
cities and present the information at a future work session.
At their October 7, 2019, meeting, the HRA heard from Kristin DeGrande, Housing Programs
Coordinator from Coon Rapids about their Front Door Program, a PILOT program that offers grants of
$1,000 to $5,000 to enhance curb appeal. Grants typically equal 15%-25% of the project amount.
Staff met with John Stark and Julie Urban, from the City of Richfield. They were not available to present
the program information at tonight’s meeting. Staff will be presenting on the Richfield Rediscovered
Programs. The Richfield Rediscovered Programs provides opportunities to build new, market-rate homes
through either the 1) Lot Sale Program, or 2) Credit Program. Richfield has other programs which staff
will discuss. The Richfield Rediscovered Programs are funded through pooled TIF funds and levied
funds.
Financial Impact
N/A
Attachments
Richfield Housing Programs by Affordability PowerPoint
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
Housing Programs by Affordability
and prepares site for new constructionapprovalaccepting applications in Aprilsurrounding homesbaths, 2-car garage
The Richfield Rediscovered Program 1) Lot Sale Program, or 2) Credit Program. marketprovides -rate homes through either the opportunities to build new,
1. HRA purchases substandard property 2. Builder/Buyer teams apply for HRA ••••1 lot currently available / will be Design should complement New home must have Design standards applyat
least: 3 BR, 2
Option 1: Lot Sale Program
Richfield Rediscovered
1.Builder/Buyer team locates a sum at the end of constructioneither installments or lumpnew home existing home; construct
a to HRA contingent on HRA approvala Purchase Agreement substandardhome, enter into -
2.4.3.Submit plans and application Receive $50,000 from HRA in Once approved, demolish
Richfield Option 2: Development CreditRediscovered
Average Sale Price: $325,000 Sales Price Range: $325,000 Sales Price Range: $390,000Average Sale Price: $390,000--$480,000 $480,000
Richfield Rediscovered Homes, 2015-2018
thththth
–––––6421 146420 166416 166345 Bloomington Ave6525 15AveAveAveAve
Endres Custom Homes2017
•••••SplitSale prices: $325Closed in Summer 20184 bedrooms, -level home-sold in Winter 3 bathrooms-350k
Richfield Rediscovered Lot Sale:Endres Custom Homes, Summer 2018
Richfield Rediscovered:Endres Custom Homes, Summer 2018
BEFOREBEFOREAFTERAFTER
Richfield ApprovedRediscovered Lot Sale, : 7324 Girard
BEFOREBEFOREAFTERAFTER
Richfield ApprovedRediscovered Credit, : 7420 Sheridan
BEFORE BEFORE AFTER AFTER tripletriple––1 house on a 1 house on a ––3 new homes3 new homes--lotlot
Richfield ApprovedRediscovered Credit, : 6933 Oliver
Richfield Rediscovered
New Home Program
•New construction for households earning up to 80% of the Area Median Income
•7300 Portland and 6310 Irving -Sold to Twin
6310 Irving Avenue
PROPOSEDPROPOSEDBEFOREBEFORE
7300 Portland Avenue