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City Council Staff Report <br /> 8/4/2025—Discussion Item—Affordable Housing <br /> Page 3 <br /> • The state housing agency also offers loan, grant, and mortgage programs to assist with <br /> the development and rehabilitation of housing in Minnesota. These primarily are applied <br /> for and rewarded to developers or property owners, with some grants and loans targeted <br /> primarily to public housing or development agencies. <br /> Metropolitan Council <br /> • The Livable Communities Act (LCA) program through the Metropolitan Council <br /> provides grants to projects that help `communities achieve development goals that <br /> create more housing choice, support living wage job creation, and connect jobs, <br /> housing, and regional amenities to create a more equitable region.' These grants can be <br /> used on policy creation, pre-development work, site cleanup, new development, or <br /> rehabilitation of existing housing. These grants are eligible for participating cities and <br /> townships only; Mounds View is a participating member. Communities that are <br /> participating members can apply for these grants, and can partner with developers or <br /> community organizations on the grant application. <br /> Other programs <br /> • A Land Bank is a public entity that can acquire, hold, and sell vacant or underutilized <br /> land for the purpose of redevelopment. An Economic Development Authority (EDA) has <br /> similar functions and powers, but can be used for non-residential development as well. <br /> The city already has an EDA. <br /> • A Local Housing Trust Fund (LHTF) is a trust fund created by a local government <br /> (either through an ordinance or a joint powers agreement) that uses public dollars to <br /> assist with development and rehabilitation projects, as well as programs such as down <br /> payment assistance or rental assistance. The Minnesota Housing Partnership has <br /> created a manual to help inform communities who are interested in creating a fund. <br /> Recommendation: <br /> Staff recommend the Council review the information provided. <br /> Respectfully submitted, <br /> "', �a, <br /> Evan Monson, AICP <br /> City Planner <br /> The Mounds View Vision <br /> A Thriving Desirable Community <br />