Laserfiche WebLink
Common Funding Sources For LHTFs <br />HRA Levy <br />Housing Related Funds <br />One-time Funds <br />Federal and State Formula Funds <br />Donations <br />Local Housing Trust Funds in Minnesota <br />3 <br />Duluth <br />Population: 86,372 <br />After years of careful planning, <br />Duluth’s Housing Trust Fund, a <br />partnership between the City <br />of Duluth and LISC Duluth, was <br />launched in 2022. The partnership <br />came together after Mayor Larson <br />and city staff, along with LISC Duluth, attended a National League of Cities’ training on housing and health <br />equity. Upon his return, Mayor Larson established the Mayor’s Housing Task Force, which issued a 2020 report <br />including recommendation for a housing trust fund. <br />The partnership has resulted in a HTF established by the city, LISC Duluth, and other partners, with initial <br />funds of $16 million: approximately $4 million to be administered by the city and $12 million administered by <br />LISC Duluth. A committee appointed by Mayor Emily Larson and confirmed by the Duluth city council provides <br />oversight and recommendations on HTF applications, both those administered by the City and those by LISC <br />Duluth. <br />Funds have already been allocated to several projects. The unique partnership between the City of Duluth <br />and LISC Duluth has provided resources for a broader range of housing goals. The City and LISC Duluth have <br />different purposes for their funds. City of Duluth funds primarily help projects get started, including options <br />for revolving funds to provide construction financing to projects experiencing short-term funding gaps. LISC <br />Duluth intends to focus funds it administers in big multifamily developments and other large projects. <br />“Having unique objectives for the funds administered by the City and LISC is helpful, as there are so many <br />important but competing priorities in housing. This approach allows funds to better support our significant <br />housing needs in Duluth through multiple strategies focused on a range of housing types,” says Adam Fulton, <br />Deputy Director, Planning and Economic Development Department, City of Duluth. <br />Featured Stories: <br />Photo: Skyline of Duluth, MN <br />TIF Pooling