HRA requests $100,000 levy to leverage $52 million in local housing investment

Jackie Prescott, speaking for the Hibbing Housing and Redevelopment Authority, presented two HRA projects and asked the council to continue local support for affordable housing.

Prescott described Cobcook Place (site work underway; anticipated resident move-in August 2027) and Mahoning Manor phase 2 (48 units). She said both buildings will shift units from federally owned to privately owned management and projected each new building would pay about $30,000 per year in taxes. "So with that being said, we are requesting a $100,000, in levy funding, and this is the same amount that we received last year," Prescott said. She added the levy would serve as local equity to help close Mahoning Manor and leverage state, federal and private financing.

Prescott told the council that construction costs for each building are "a little bit under $20,000,000" and that, together with soft costs, the two projects represent roughly a $52,000,000 investment in the Hibbing community. She said required federal reviews — a Section 106 historical review, an archaeological study and State Historic Preservation Office approvals — are complete for Mahoning Manor and that HUD-required financing steps remain before final closing.

The presentation did not include a council motion or vote on the requested levy; Prescott concluded by asking for the council's continued partnership and offered to answer questions. Councilors asked about construction timing and closing schedules; Prescott said she expects advertising for bids within days and anticipates construction beginning in spring 2027, weather permitting.