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County adopts ordinance to create local housing trust fund, authorizes $150,000 Minnesota Housing matching grant application
Summary
Following a public hearing, Meeker County authorized creation of a Meeker County Housing Fund by ordinance and approved submitting an application to Minnesota Housing for $150,000 in matching funds; the ordinance is intentionally broad to allow loans, grants and a range of housing activities.
After a public hearing on March 4, the Meeker County Board approved an ordinance establishing the Meeker County Housing Fund and authorized the county to apply to Minnesota Housing for $150,000 in matching funds to seed that trust.
EDA staff explained the ordinance was written broadly to allow flexibility—funds could be used for owner-occupied housing development, new rental units, down-payment or home-buyer assistance, loans to developers or nonprofit housing providers, or to work through local housing and redevelopment authorities. Staff said applications for trust-fund awards would require detailed project plans, price points, financing gaps and other financial disclosures to justify county assistance and ensure the funds fill a genuine financing gap.
The Economic Development Authority noted the required local match of $150,000 will come from EDA funds. County staff also noted new grant application requirements that include a pre-award risk assessment and a certification that principals have no convictions for felony financial crimes; the county listed the board, administrator and EDA staff in the required certificate.
Commissioners discussed outreach and publicity; staff said outreach to cities, developers, realtors and lenders will be part of implementation so potential applicants know about the resource.
A motion to approve the ordinance and authorize application to Minnesota Housing passed by voice vote.
End note: The ordinance establishes the Meeker County Housing Fund and authorizes the county to submit the state matching funds application; final grant award, if any, and subsequent disbursement decisions will require further project-level approvals.
