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EDA report: housing initiative home nearing completion; $5,000 wayfinding grant approved pending state sign-off
Summary
At the April 15 meeting the EDA reported a third subdivision preliminary plat will go to the planning commission in May, a housing-initiative home on Minnesota Street will complete soon and accept applications likely in June (to be held in a land trust), and the city was approved for a $5,000 wayfinding-signage grant that requires state approval.
The Cannon Falls Economic Development Authority (EDA) reported to council on April 15 that several housing and wayfinding items are moving forward.
An EDA representative (Laura) said the city will bring a third subdivision preliminary plat to the Planning Commission in May and that activity is underway in Hardwood Estates and Timber Ridge, where recent building and pending offers indicate movement in local residential development.
On housing, the EDA said a home built by construction students on Minnesota Street will likely finish in the next month; the Housing Initiative intends to accept applications for the house — which will be placed into a land trust to reduce purchase cost — probably in June. The EDA said application information will be shared with local employers and the school to prioritize local workers and staff.
The EDA reported it was approved for a $5,000 wayfinding-signage grant from the county (application referenced), but because the award exceeds the county’s $3,000 threshold it requires state approval before funds are released; staff said they expect approval but were awaiting the state sign-off. The EDA had applied to the Taylor Family Farm Foundation as well but did not receive that foundation grant.
No vote was required; the report was informational. The EDA asked council to note the housing timeline and the planned outreach when applications open.
