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City outlines Housing Trust Fund loans, new MHFA grant and planned affordable housing pool
Summary
City housing staff told the council the Housing Trust Fund has issued 17 loans totaling $5.5 million and supported roughly 135 housing units since its 2021 creation, and outlined a new MHFA grant and a planned dedicated affordable‑housing loan product.
Senior housing developer Tom Church and housing planner Lehi Fancook briefed the Duluth City Council on Oct. 14 about the city’s Housing Trust Fund program, its activity since 2021 and plans to expand a dedicated affordable‑housing loan product.
Program background: The city established the Housing Trust Fund by ordinance in 2021 and seeded it with $4,000,000 from the general fund. City staff said the fund also receives annual levy contributions and a portion of certain permit fees. Church told the council the fund’s nominal value has grown to about $4,700,000 (seed plus contributions, less forgiveness) but that the liquid fund balance available today…
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