CITY OF MINNEAPOLIS Minneapolis Homes: Development Assistance RFP Housing Policy and Development Committee December 2019 1
Minneapolis Homes: Development Assistance RFP Criteria • Equity (40 pts) – demographics of households served and proposed to be served, utilization of Section 3 and Small and Underutilized Businesses, majority women or minority ownership or board positions, commitment to partnerships with workforce development programs • Efficiency and Capacity (35 pts) – experience developing new construction homes, previous experience working on City-funded projects, documentation of financing or the ability to secure financing • Design (25 pts) – implementing optional Enterprise Green Communities criteria, incorporating accessibility features through universal design, providing 5 or more bedrooms • Impact (15 pts) – proximity to other funded CPED projects, community-supported cluster investment strategies 2
Program Goals Goal 1: Preserve affordable homeownership opportunities throughout Minneapolis • New construction opportunities created by Minneapolis Homes are the most affordable new construction ownership opportunities in the City • Increase in Affordability Gap Assistance approved by Council in 2018 provides opportunity for homes to remain attainable for households below 80% AMI • In addition to assistance through Minneapolis Homes, homebuyers can access approximately $15,000 in down payment assistance through non-City sources. Sources can often be layered. 3
Program Goals Goal 2: Encourage new housing development on City-owned vacant lots Homes Homes Homes Homes Minneapolis Funded in Funded in Funded in Proposed in Homes MHDA R1 MHDA R2 MHDA R3 MHDA R4 (2017) (2018) (2019) (2019) Development Assistance 21 Homes 25 Homes 34 Homes 59 Homes Program 93 units of housing approved in 2019 4
Program Goals Goal 3: Improve equitable outcomes in construction contracting and homeownership • Of 11 developers who applied, seven are BIPOC-owned or led, two are women-led • Three developers are partnering with workforce development groups All units are Energy STAR certified and implementing additional • green criteria was encouraged Scored developers on demographics of households served and • proposed to be served, marketing and outreach plan, utilization of Section 3 and Small and Underutilized Businesses 5
Passive Housing Pilot • Office of Sustainability has partnered with the Community Planning & Economic Development department to provide up to $180,000 • Undertaking a study of the cost-effectiveness of sustainability certified housing and how to best support its construction through Minneapolis Homes programs. • Four developers propose to develop 13 homes that are either Passive House Institute or Department of Energy Zero Energy Ready certified homes • City of Lakes Community Land Trust • John Aish, Inc. • Paragon Grounds LLC • Twin Cities Habitat for Humanity 6
Long Term Affordability (LTA) Study • Goal to increase rate of LTA homes through MHDA (currently ~20% of homes) • Started June 2019 • Four community engagement sessions to date • Market study to evaluate trends in ownership • Analysis of LTA formulas (existing local and national options) • Draft recommendations expected 1 st quarter 2020 • Final recommendations expected 2 nd quarter 2020 7
Program Outcomes in 2018 Black 21 8 White 8 Hispanic 2 26 Asian 2 Native 1 American Black, Indigenous, Persons of Color White, Non-Hispanic 0 5 10 15 20 25 Average Area Median Income Average Household Served: 68% or $68,000 for a family of four 0-30% AMI: 30-50% AMI: 50-80% AMI: 80-115% AMI: AMI 2 Households 5 Households 14 Households 13 Households 115% 0% 20% 40% 60% 80% 100% MAX 8
City of Lakes MyHomeSource eStoreMasters (dba Community Land Trust (Alatus) United Developers) (CLCLT) 7 Single Family Homes 2 LTA Single Family Homes 6 Single Family Homes 3 Bed, 2 Bath 3 Bed, 2 Bath 3 Bed, 3 Bath 1,664 or 1,686 Square Feet 1,300 Square Feet 1,686 Square Feet 1400 Morgan Ave N 1719 Sheridan Ave N 3518 Humboldt Ave N 1410 Morgan Ave N 3950 Thomas Ave N 3642 Bryant Ave N 1414 Morgan Ave N 3950 Bryant Ave N 1818 Sheridan Ave N 3954 Bryant Ave N 2023 Queen Ave N 4018 Bryant Ave N 2031 Queen Ave N 4336 Irving Ave N 2214 Russell Ave N 9
Greater Metropolitan Jenny Investments Housing Corporation John Aish, Inc. LLC (GMHC) 10 Single Family Homes 2 Single Family Homes 1 Duplex, 3 Single Family Homes 3 Bed, 3 Bath or 4 Bed, 2 Bath 3 Bed, 3 Bath 2 Bed, 1.5 Bath (each) or 3 Bed, 3 Bath 1,750 or 2,400 Square Feet 1,688 Square Feet 1,600 (each) or 1,600 Square Feet 1911 Oliver Ave N 2027 Russell Ave N 1914-1916 Hillside Ave N 1927 Oliver Ave N 3411 Girard Ave N 2027 James Ave N 2003 Queen Ave N 2743 Queen Ave N 2018 Sheridan Ave N 2747 Queen Ave N 2026 Sheridan Ave N 2650 Colfax Ave N 2719 Colfax Ave N 2803 Bryant Ave N 2826 Bryant Ave N 4338 Knox Ave N 10
Magnolia Homes, LLC Paragon Grounds LLC PRG, Inc. 1 Duplex Homes 1 Single Family Home 8 Single Family Homes 3 Bed, 2 Bath (each) 3 Bed, 2 Bath 3 Bed, 2 Bath 3,200 Square Feet 1,400 Square Feet 1,856 Square Feet 2410 Dupont Ave N 2434 Irving Ave N 1625 26th Ave N 1929 Hillside Ave N 2018 Willow Ave N 2206 James Ave N 2509 Girard Ave N 2610 Newton Ave N 2623 Newton Ave N 2639 Girard Ave N 11
Summary of Hous using ng Twin Cities Habitat for Humanity Develop opmen ent 7 LTA Single Family Homes 3 Bed, 2 Bath; 4 Bed, 2 Bath; or 5 Bed, 2 Bath 1,480 – 2,784 Square Feet • 59 Units 3238 Vincent Ave N • 46 Single Family Homes 3247 Irving Ave N 3656 Emerson Ave N • 5 Duplexes 3658 Emerson Ave N 412 Logan Ave N • 1 Triplex 418 Logan Ave N 423 30th Ave N • $18.6 million of housing development in Minneapolis • $4.5 million from City sources including $1 million grant from Minnesota Housing 12
Missing Middle Projects • There were two proposals received through the Missing Middle RFP that are eligible for funding through MHDA due to their size (one to four-unit development) and funding request that are within MHDA guidelines. GMHC with CLCLT Green Affordable Homes LLC 3 LTA Duplex Homes 1 Triplex Home 6 Units - 3 Bed, 1.5 Bath 1 unit - 4 Bed, 2 Bath and 2 units – 2 Bed, 2 Bath 1,008 Square Feet (each) 1,550 or 736 Square Feet 3601-3619 Lyndale Ave N 2705 Emerson Ave N 13
Qu Ques estion ons? 14
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