Meeting Date: May 4, 2023
To: Members of the Housing & Redevelopment Authority
From: Melissa Hanson, Housing Coordinator
Jake Reilly, Community Development Director
Title
Introduction to Northcountry Cooperative Foundation (NCF) Concept Plan.
Body
Action Requested:
HRA to consider NCF's cooperative concept plan and authorize staff to enter into a limited exclusive agreement for NCF to pursue the development of HRA/City owned land at Southbridge and to seek funding sources and appropriate builders.
Summary Report:
The HRA owns approximately 7.27 acres of undeveloped land in the Southbridge area near Spring Creek Park. Adjacent to the HRA land, the City owns an additional 4.4 acres of parkland. The HRA has been exploring a variety of development options to create affordable, sustainable, workforce housing citywide with a goal to incorporate an ownership option in this neighborhood. NCF believes that they have a homeownership concept that could fit what the HRA is looking for and has proposed to develop a single-family neighborhood using a cooperative ownership structure.
NCF is a 501(c)3 nonprofit organization founded in 1999 in Minneapolis. NCF's goal is to "transform lives and communities through cooperative (co-op) enterprise." They carry out this charge by providing technical assistance and cooperative education to cooperative organizations. NCF provides co-op development and support services to affordable housing co-ops. Over their twenty (20) year history, they have worked to create an ecosystem that supports housing co-ops through organizing and educating stakeholders about the benefits of the model and by advocating for the creation of financial and operational tools that housing co-ops need to succeed. As one of several cooperative development centers around the country, NCF delivers ongoing education, organizational development, and support.
Alternative Options:
The HRA could choose not to pursue this concept in this neighborhood. Staff will...
Click here for full text