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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 Minnesota Housing Trust Fund Grant Program, which staff said has about $5,000,000 available from prior allocations.
The presentation outlined allowable uses: development, rehabilitation and financing of housing; rental assistance; home-buyer counseling; and administrative expenses (up to 10 percent of a grant). Ms. Parr said the program must serve households at or below 150 percent of the state median income and be used within five years. Citing partner calculations, she said that for a family of four the 150% figure would be roughly $142,000, and for a single-person household about $100,000.
Councilmembers discussed how the state grant—s match rules informed the $300,000 transfer. Ms. Parr explained the match mechanics: a 100 percent match for the first $150,000 of local funds and a half-match thereafter, which staff said makes $300,000 a strategic starting amount that can maximize the city—s scoring under the state program.
Councilmember Cave moved to adopt the ordinance; Councilmember Lee seconded. Councilmember Juneman moved and Councilmember Cave seconded a resolution authorizing publication of the ordinance by title and summary. Councilmember Juneman moved and Councilmember Lee seconded the resolution accepting the $300,000 transfer from the EDA General Fund. Each motion carried by voice vote with no opposition recorded.
City staff said the EDA will administer the fund and that detailed program rules, eligibility and application processes will return to the EDA and council for finalization if Maplewood is awarded state funds. The city manager noted the state—s competitive process and the timing staff expects for award notification in late May or early June.
The council adjourned at the end of the meeting after the votes.
