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Ramsey County says EDD program has invested millions; cohort participation linked with higher award rates
Summary
Ramsey County presented program history and statistics for the Emerging and Diverse Developers program: staff cited $13.1 million invested over two years, 27 applications last year and 12 awards; county presenters said cohort participation increased applicants' chances of receiving awards.
Jerica Gomez, multifamily development specialist for Ramsey County, summarized the EDD program’s recent performance during the webinar, saying the county has invested "$13,100,000 into emerging developers in the last 2 years." Gomez said the program began with a 2022 engagement process and that the county used technical assistance plus funding to support new developers.
Gomez provided metrics from recent solicitations: last year Ramsey County received 27 applications from 25 developers and awarded 12 projects. She said 55% of the applications for the housing-development solicitation were from EDD cohort members and that 88% of awarded funding went to participants in EDD or related cohorts. "So being in that process kind of gives you a leg up and teaches you how to get into our solicitations," Gomez said.
A note of caution from the webinar: Gomez cited differing numbers in nearby statements (she said $13.1 million invested, and the transcript also referenced $11.8 million without reconciliation). That discrepancy appears in the webinar audio/text and should be verified against Ramsey County’s solicitation materials.
Sample project example: Gomez walked through a sample multifamily workbook for an 18-unit acquisition/rehab showing total development cost about $2.7 million. In that example the applicant’s Ramsey County deferred loan request was $791,945 — which Gomez noted exceeds the solicitation ceiling of $500,000.
Quote: "55% of the awarded developers participated in the cohort program, and 88% of that awarded funding went to participants," Gomez said, describing cohort outcomes.
What to watch: applicants and community stakeholders should review Ramsey County’s published solicitation documents and the Neighborly document library to confirm investment totals, award amounts and any program updates referenced during the webinar.
