HRA Meeting Date: February 1, 2024
To: Members of the Housing and Redevelopment Authority
From: Melissa Hanson, Housing Coordinator
Title
Consider Resolution Dedicating Source of Public Revenue for the Local Housing Trust Fund.
Body
Action Requested:
The HRA to approve attached Resolution Dedicating Source of Public Revenue for the Local Housing Trust Fund.
Summary Report:
The Northfield HRA's mission is to be a partner in providing a sufficient supply of affordable, adequate, safe and sanitary dwellings in Northfield. The primary guiding document supporting that mission is the city's adopted Comprehensive Plan.
Our goal is to create a community with housing opportunities available along the entire housing spectrum: from renters to homeownership, first-time homeowners, to senior living, workforce housing and empty-nesters. We strive to create affordable housing opportunities and strengthen our neighborhoods utilizing:
* Sustainability
* Innovation
* Partnerships
* Community Input
The adopted Comprehensive Plan (2008) states the following goal regarding housing:
"Provide housing opportunities for all people who live and work in Northfield. A variety of housing options, including rental housing, should be available as first-time homebuyers have families, become empty nesters, become elderly and eventually need assisted living services. Green technology, environmental considerations and strong neighborhood qualities should be combined to provide a safe, secure and pleasing living environment." (p. 11.2)
The HRA has multiple options for implementing and funding these goals and opportunities. One opportunity is through the unrestricted funds associated with the HRA levy, which is based on the property tax capacity in the City. The HRA may use those dollars to pay for housing-related development and redevelopment and/or economic development-related activities. HRA levy funds are more flexible than those levied by the City's Economic Development Authori...
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