Because the Twin Cities tight housing market has created an affordable housing crisis, the Metro Council is threatening to withhold various funding and approvals if they do not make progress in creating affordable housing. The council has entered into cooperation agreements for up to 15 units in Blaine and up to 20 units each in Edina, Golden Valley and Maple Grove.
The council will own and be responsible for the units. It is currently in the process of hiring a professional management company to provide day-to-dayproperty management services. Council staff will provide additional oversight to ensure units are managed according to council standards and maintained as community and neighborhood assets.
The effort is part of the council's Family Affordable Housing Program, which was created last year. The program is funded with federal dollars and is designed to help the Twin Cities -- Minneapolis in particular-- meet the terms of the Hollman settlement with the federal government. The 1995 settlement calls for developing housing throughout the region that replaces housing in an area of Minneapolis where poverty is more highly concentrated. As part of the agreement, the federal government is making funds available to develop 770 family housing units. The deadline for theunits to be completed is April 2002.
"The region faces a critical shortage of affordable housing, and this is a great opportunity to take advantage of federal dollars for housing that meets the needs of some of the region's lowest-income residents," says Council Chair Ted Mondale.
The Council plans to partner with a number of suburban municipalities, with the initial goal of acquiring about 150 units, or as many units as federal funds will allow. Negotiations continue with a number of communities in the Twin Cities metro area, in addition to communities that have already signed agreements.
The council said it would focus acquisition efforts, primarily, on single-family homes, town homes and condominiums.
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