HomeMy WebLinkAbout13.F.1. Scott County Community Development Authority Presentation
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CITY OF SHAKOPEE
Memorandum
TO: Mayor and City Council
FROM: Mark McNeill, City Administrator
SUBJECT: Scott County CDA Presentation
DATE: March 3, 2009
Comment:
Introduction:
At its March 3rd meeting, the City Council will hear a presentation by the Scott County
Community Development Authority regarding its activities in the City of Shakopee.
Background:
Executive Director Bill Jaffa has requested time to appear before the City Council to
provide an update on the CDA (formerly the Housing and Redevelopment Authority) and
what that organization has been doing in Shakopee. Mr. Jaffa is expected to speak
about River City Centre, a potential development on the St. Mary's Church campus, and
other projects in Shakopee.
Originally, this was to be part of the workshop to be held at SPUC on March 2nd, but in
view of the availability of time on the March 3rd agenda, it has been rescheduled to
Tuesday evening's meeting
Relationship to Visioning:
This supports Goal D, "Vibrant, resilient, and Stable"
Action Required:
No action is required-this is advisory only.
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Mark McNeill
City Administrator
Scott County
Community Development Agency
323 South Naumkeag Street
Shakopee, MN 55379-1652
Phone: 952.402.9022
Fax: 952.496.2852
Shakopee City Council Meeting
March 3, 2009
Most of these projects are in planning, negotiation, or scheduled for development in
2009.
1) St. Mary's Campus Concept
(See Exhibit A)
2) River City Centre, Northridge Court Update*
3) Neighborhood Stabilization Program (NSP)
(See Exhibit B)
4) Chad Pointe Development, J orctan, MN
(See Exhibit C)
5) Jordan Mixed Use Development
(See Exhibit D)
6) Britland Apartments, Jordan (USDA Rural Development)
7) Elko New Market Mixed Use Development
(See Exhibit E)
8) Glendale Place, Savage, MN*
(See Exhibit F)
9) Tenant Project-Based Assistance and Self-Sufficiency
*Existing proj ect( s)
DeAnn Croatt
Commissioner
District I
Ben Zweber
Commissioner
District II
Marjorie Henderson
Commissioner
District III
Patti Sotis
Commissioner
District IV
Jane Victorey
Commissioner
District V
Affirmative Action / Equal Opportunity Employer
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Neighborhood Stabilization Program (NSP)
The U.S. Department of Housing and Urban Development's new
Neighborhood Stabilization Program (NSP) provides targeted emergency
assistance to states and local governments to acquire and redevelop
foreclosed properties that might otherwise become sources of abandonment
and blight.
Areas of Greatest Need
Minnesota Housing has targeted funds to give priority emphasis and
consideration to areas with greatest need identified through a funding
formula:
. Areas with the greatest percentage of home foreclosures;
. Areas with the highest percentage of homes financed by a sub-prime
mortgage related loan; and
. Areas, identified as likely to face a significant rise in the rate of home
foreclosures.
Scott County CDA has been awarded $734,988 for the zip code of
55379
With these funds, the Scott County CDA will:
. Purchase approximately four properties that are in foreclosure
. Perform any rehab or maintenance needed to retain housing values within
a neighborhood
. Rent these properties at affordable rents
Rents cover expenses for the properties, and any profit to the CDA is
unlikely. However, if that would occur, profits would be obligated back to the
MHFA to fund other programs.
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