Minneapolis Homes: Development Assistance RFP Housing Policy and - - PowerPoint PPT Presentation

CITY OF MINNEAPOLIS

Minneapolis Homes: Development Assistance RFP

Housing Policy and Development Committee

February 2019

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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

• wnership 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

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Program Goals

• New construction opportunities created by Minneapolis Homes

are the most affordable new construction ownership

• pportunities in the City
• Increase in Affordability Assistance ensures homes remain

attainable to target buyers

• Lots in Northeast and South reserved for Long Term Affordability

to homebuyers at or below 80% AMI

• In addition to assistance through Minneapolis Homes,

homebuyers can access up to $15,000 in down payment assistance through non-City sources. Sources can often be layered.

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Goal 1: Preserve affordable homeownership opportunities throughout Minneapolis

Green Homes North – who was served

Average Household Size: 3.3

Homes Sold as of December 31, 2018

Average Household Income: $56,353 (60% of AMI) Households of Color*: 68%

12% 38% 13% 29% 8%

Race and Ethnicity of Green Homes North Purchasers

Asian Black/African-American Hispanic White/Caucasian, non-Hispanic No Data

*HH of Color calculation does not include HH who did not share demographic data

Minneapolis Homes Development Assistance Program

Homes Funded in 2017 Homes Funded in 2018 Homes Proposed in 2019 21 Homes* 25 Homes 34 Homes**

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Program Goals

Goal 2: Encourage new housing development on City-owned vacant lots

*Two homes originally proposed for funding did not require development assistance project gap funding. **Staff plans to do a second RFP later in 2019

Program Goals

Goal 3: Improve equitable outcomes in construction contracting and homeownership

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• Four developers are minority-owned
• Two non-profit developers have more than 50% of board member

positions occupied by people of color or women

• Two 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

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Minneapolis Homes Round 3: 34 Properties

• 24 homes in North
• 2 homes in

Northeast that are long term affordable

• 8 homes in South

that are long term affordable

City of Lakes Community Land Trust

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CONCEPT SUMMARY:

• 2 Bedrooms, 1 Baths
• 1,230 square feet
• 2953 Pierce St NE
• 3321 25th Ave S

CONCEPT SUMMARY:

• 3 Bedrooms, 2 Baths
• 1,440 square feet

CONCEPT SUMMARY:

• Accessory Dwelling Unit
• 3 Bedrooms, 2 Baths
• 1,440 square feet
• 3916 Blaisdell

eStore Masters LLC (dba United Developers)

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CONCEPT SUMMARY:

• 3 Bedrooms, 3 Baths
• 1,686 square feet
• 1418 Logan Ave N, Minneapolis, MN
• 3427 Logan Ave N, Minneapolis, MN
• 3504 James Ave N, Minneapolis, MN
• 3510 Knox Ave N, Minneapolis, MN
• 3514 Knox Ave N, Minneapolis, MN

Greater Metropolitan Housing Corporation (GMHC)

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CONCEPT SUMMARY:

• 4 Bedrooms, 2 Baths
• 1,758 square feet

CONCEPT SUMMARY:

• 3 Bedrooms, 3 Baths
• 1,768 square feet
• 2659 Queen Ave N
• 3226 Dupont Ave N
• 3242 Washburn Ave N
• 2915 Sheridan Ave N

Greater Metropolitan Housing Corporation (GMHC)

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CONCEPT SUMMARY:

• 4 Bedrooms, 2 Baths
• 2,150 square feet
• 2720 James Ave N
• 3126 Thomas Ave N
• 4155 Irving Ave N

CONCEPT SUMMARY:

• 3 Bedrooms, 3 Baths
• 1,758 square feet

CONCEPT SUMMARY:

• 4 Bedrooms, 2 Baths
• 1,758 square feet
• 3118 Thomas Ave N

Jenny Investments LLC

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CONCEPT SUMMARY:

• 3 Bedrooms, 3 Baths
• 1,700 square feet
• 3435 Humboldt Ave N
• 412 Logan Ave N
• 418 Logan Ave N

John Aish, Inc.

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CONCEPT SUMMARY:

• 3 Bedrooms, 3 Baths
• 1,536 square feet
• 2031 James Ave N

Magnolia Homes

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CONCEPT SUMMARY:

• Duplex – 2 Units
• 3 Bedrooms, 2 Baths each
• 1,102 square feet each
• 917 31st Ave N

Prestige Contractors

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CONCEPT SUMMARY:

• 3 Bedrooms, 3 Baths
• 1,902 square feet
• 2719 Queen Ave N
• 2904 Queen Ave N

PRG, Inc.

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CONCEPT SUMMARY:

• 3 Bedrooms, 2 Baths
• 1,856 square feet

CONCEPT SUMMARY:

• 3 Bedrooms, 2 Baths
• 1,856 square feet
• 2126 Fremont Ave N
• 2213 Fremont Ave N
• 2638 Girard Ave N
• 2417 16th Ave S
• 2623 17th Ave S
• 2614 Irving Ave N

Twin Cities Habitat for Humanity

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CONCEPT SUMMARY:

• 3 Bedrooms, 2 Baths
• 1,492 square feet
• 609 Fillmore St NE

CONCEPT SUMMARY:

• 5 Bedrooms, 2 Baths
• 1,733 square feet

CONCEPT SUMMARY:

• 4 Bedrooms, 2 Baths
• 1,632 square feet
• 3408 Oakland Ave S
• 2406 11th Ave S
• 2426 Elliot Ave S
• 2444 10th Ave S

Summary

• 35 Units
• 10 Long Term Affordable Homes
• 1 Duplex
• 1 Accessory Dwelling Unit (ADU)
• 9 Developer Partners
• 5 For-profit
• 4 Non-profit
• $11.5 million of investment in housing in Minneapolis
• $2.9 Million from City sources including grants from

Minnesota Housing

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