Ramsey County approves $2.9 million for affordable housing projects, increases diversity in development community
Saint Paul, Minn. (Dec. 19, 2023) – Today, the Ramsey County Board of Commissioners approved Statewide Affordable Housing Aid (SAHA) funding for three local affordable housing projects, totaling $721,945. This follows last week’s action by the county’s Housing Redevelopment Authority (HRA), which approved $2.25 million in HRA levy funding for nine additional affordable housing projects.
Together, the 11 projects by local emerging and diverse developers will receive county investment through the Emerging and Diverse Developers (EDD) Solicitation. In total, the awarded projects are expected to add 119 new and 55 preserved units to the current local housing supply. This is in addition to the 1,366 new and preserved affordable housing units funded through the county’s Housing Development Solicitation earlier this year.
The EDD solicitation was newly designed in 2023, in alignment with the county Economic Competitiveness & Inclusion Plan, and created specifically for individuals or entities that have owned and/or developed no more than five housing projects, including mixed-use, in the state of Minnesota in the last 10 years. Of the 24 applications received, during the eight-week solicitation period, many emerging and diverse developers also received technical assistance from NEOO Partners, Urban Land Institute Minnesota and Baker Tilly - Minnesota as a part of Ramsey County's EDD program.
“The Emerging and Diverse Developers program shows how we as a county continue to address significant gaps and available opportunities within our diverse communities,” said Ramsey County Board Chair Trista Martinson. “I take great pride in being part of an organization that has an unwavering commitment to enhancing the economic growth of our region, while dismantling racial barriers.”
On Oct. 17, Ramsey County Commissioners recognized EDD program participants as the inaugural cohort to complete the program where they received Certificates of Completion from the Board. EDD program launched Aug. 1 to address racial barriers in real estate, providing emerging and diverse developers with a fair and equal opportunity to thrive in the early stages of the development process. The program is being funded through the HRA levy and is continuing to offer technical assistance to awardee. In the coming weeks the county will offer technical assistance to a new cohort of program applicants.
“Our multi-million-dollar investment into affordable housing infrastructure is crucial and intentional as we continue to promote wealth creation for those who have historically been excluded from wealth creation and suffered from wealth extraction,” said HRA Board Chair Mai Chong Xiong. “I’m thrilled to be a part of leading this charge, fostering prosperity and opportunity for our diverse communities from every possible angle.”
The next housing development-focused solicitation is expected to open in February. Emerging and diverse developers are welcome to apply. Following evaluation, awards will be announced in Spring 2024, aligning with the Department of Housing and Urban Development’s (HUD) funding calendar. Information regarding the solicitation will be posted online at ramseycounty.us/HousingInvestments.