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Maplewood council approves local housing trust fund agreement with Minnesota Housing
Summary
The council approved a Local Housing Trust Fund grant agreement that secures a $225,000 match from Minnesota Housing to support owner-occupied rehabilitation loans; staff outlined eligibility and program intent and were authorized to execute the agreement.
The Maplewood City Council voted on March 9 to approve a Local Housing Trust Fund grant contract with Minnesota Housing that will provide matching funds to support the city's newly launched home rehabilitation program.
City staffer Ms. Parr told the council the city established the Maplewood Local Housing Trust Fund to support reinvestment in owner-occupied properties and asked the council to authorize the mayor and city manager to execute the grant contract that secures a $225,000 match from Minnesota Housing. She described eligible uses as interior and exterior improvements tied to ownership, accessibility upgrades and energy-efficiency measures, and said eligible properties must be located within the city and be owner-occupied. She also said the program will use state median income thresholds for eligibility per current state requirements.
At the meeting Ms. Parr read program loan parameters as presented; the transcript contains inconsistent loan figures when read aloud (it lists a minimum of 5,000 and a maximum of 4,000), so staff will provide corrected loan-limit language in the executed agreement and program materials. The council moved to approve the agreement (recorded on the agenda as "Moved by Ginnaman, seconded by Cave") and approved the motion by voice vote.
What happens next: city staff will finalize and execute the agreement with Minnesota Housing and begin implementing the rehab program consistent with the contract and the city's work plan.
