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Maplewood council creates local housing trust fund and approves $300,000 EDA transfer
Summary
The Maplewood City Council on March 10 adopted an ordinance establishing a Local Housing Trust Fund, authorized its publication by title and summary, and approved a $300,000 transfer from the EDA General Fund to seed the new fund; staff said the move positions Maplewood to apply for a competitive Minnesota Housing Trust Fund grant.
Maplewood, Minn. — The Maplewood City Council on March 10 voted to establish a Local Housing Trust Fund (LHTF), authorize publication of the ordinance by title and summary and accept a $300,000 transfer from the city—s Economic Development Authority (EDA) to seed the new fund.
Ms. Parr, the city—s housing presenter, told the council the ordinance creates a locally administered LHTF to "provide a consistent, flexible resource for housing within the City of Maplewood" and to help leverage public and private investment. She said the city is pursuing competitive aid from the…
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