Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
2008.05.19 EDA Packet
AGENDA CITY OF HUGO ECONOMIC DEVELOPMENT AUTHORITY MONDAY, MAY 19, 2008- 8:30 AM 8:30 am 1. Call to Order 8:31 am 2. Roll Call 8:32 am 3. Approval of Minutes EDA Meeting of April 21, 2007 8:35 am 4. Update on BR&E Subcommitte 8:45 am 5. Discussion on Metro MSP Economic Development Website for the Minneapolis-Saint Paul Minnesota Region 9:00 am 6. Discussion SAC/WAC Fee's • Jay Kennedy and Jamie Wallerstedt, WSB & Associates 9:15 am 7. Update on Downtown Redevelopment 9:30 am 8. Discussion on TIF Certification 10:00 am 9. BLUE HERON GRILL—SITE VISIT/RIBBON CUTTING 10:30 am 10. Adjournment BACKGROUND MEMO FOR THE EDA MEETING OF MONDAY, MAY 199 2008 3. Approval of Minutes for EDA meeting of April 21, 2008 City staff recommends that the EDA approve the minutes for the April 21, 2008 EDA meeting as presented. 4. Update on BR&E Subcommitte The BR&E subcommittee met on Friday May 2, 2008 for introduction of members and discussion on the work plan. They appointed Brian Thistle as Chair and Steven Larson as Vice Chair. During the discussion on the work plan the subcommittee wanted to make sure that business were aware of the committee. They decided to recommend to staff that a section of the EDA portion of the City website talk about the BR&E subcommittee, have a member be on "That's Hugo Today" cable access show, and possibly have a write up in the Citizen Newspaper. The subcommittee members are researching possible grants for business in Hugo and will bring their ideas to the next meeting on Friday, May 30, 2008 at 8:00 am. Staff will provide an update to the EDA on the BR&E subcommittee meeting. 5. Discussion on Metro MSP Economic Development Website for the Minneapolis- Saint Paul Minnesota Region Staff will present the new Metro MSP Economic Development Website that is dedicated to providing information to residents, businesses and Cities in regards to economic development. "Metro MSP region" refers to Minnesota's 11-county Twin Cities metro area. It includes the anchor cities of Minneapolis, Saint Paul and Bloomington as well as the counties of Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Ramsey, Scott, Sherburne, Washington and Wright. There is a section of the site that includes properties available search and planned development areas. It has a GIS component so users can see exactly where the property is and can see an aerial view of the property. 6. Discussion SAC/WAC Fee's Jay Kennedy and Jamie Wallerstedt from WSB & Associates will present to the EDA the research for the options for the City's SAC/WAC fees. 7. Update on Downtown Redevelopment Staff will update the EDA on the progress of the downtown redevelopment projects. 8. Discussion on TIF Certification Staff has been in contact with Springsted on the timing of certification of the district and will discuss it with the EDA at the meeting. 9. BLUE HERON GRILL—SITE VISITIRIBBON CUTTING The EDA is invited to the ribbon cutting ceremony for Blue Heron Grill Restaurant. MINUTES FOR THE EDA MEETING OF APRIL 21, 2008 EDA President Fran Miron called the meeting to order at 8:35 am. PRESENT: Jan Arcand, Jim Bever, Tom Denaway, Phil Klein, Brian Thistle, and Fran Miron ABSENT: Mike Granger CITY STAFF PRESENT: City Administrator Mike Ericson, Community Development Director Bryan Bear, Associate Planner Rachel Simone APPROVAL OF MINUTES FOR THE EDA MEETING OF MARCH 17, 2008 Klein made motion, Bever seconded, to approve the minutes for the EDA meeting of March 17, 2008. All aye. Motion carried. UPDATE BR&E SUBCOMMITTEE Over the past month the Business Retention and Expansion (BR&E) subcommittee has developed a basic work plan that outlines the goals of the committee. Brian Denaway, Communications Intern, has been working closely with this group to create the work plan. There are three business people who have volunteered to be on the BR&E subcommittee including Joe Houle, Steven Larson, and Bonnie Chessebrow. Brian Denaway, Communications Intern presented to the EDA the progress of the committee and the work plan to accomplish the goals of the committee. Staff recommended that the EDA discuss the work plan and formally appoint the BR&E subcommittee to include the new members. Miron made a motion, seconded by Klein, to formally appoint the BR&E Subcommittee members and approve the work plan for the subcommittee. All aye. Motion carried. UPDATE ON DOWNTOWN REDEVELOPMENT PROJECTS CD Director updated the EDA on the progress of the downtown redevelopment projects. He gave an update on the End Zone site plan and TIF application. The applicant has submitted a site plan application that will be considered at a May Planning Commission meeting and a revised TIF application will be submitted soon. CD Director gave an update on the redevelopment plans for Carpenters Restaurant, Chuck Lowell's property on Finale Avenue, and the City owned properties. Denaway stated the communication is important between the applicants and the City and also potential developers for projects. Arcand asked about the past developers that were looking at doing a master downtown plan in the City and if staff has been in contact with them. CD Director stated that we have not heard from them, but some of them probably do not exist any more. Thistle talked about identifying developers that may want to do a project in downtown Hugo. DISCUSSION ON TIF CERTIFICATION At the March 2008 meeting the EDA discussed a TIF application from DK Dockendorf Inc. for a 23,123 square foot retail building. There were questions about separating the properties in that area into its own TIF District, timing of certification, and Frank Langer's, City Assessor, valuation on the property. Frank Langer and the applicant met recently to discuss the valuation of the property. Staff completed a study on what would happen to the rest of the district if the properties were broken off into their own district. Staff presented these finding at the meeting. Staff has been in contact with Springsted on the timing of certification of the district and discussed it with the EDA at the meeting. The Associate Planner gave the results of the study regarding separating parcels from the TIF District. Although the district would still qualify, staff feels it is best to keep the TIF District with its current boundaries to generate the amount of increment planned for in the TIF plan. Miron discussed with the EDA the need to be more aggressive with marketing the TIF District and the City owned property. Thistle agreed. Miron made a motion, seconded by Thistle, to send the Project Showcase article to developers and report back to the EDA in June. All aye. Motion carried. Deb Barnes from the Citizen Newspaper made a comment about the current situation of the Avalon Building in White Bear Lake falling apart. She suggested the EDA to write a letter to the businesses leasing space there that Hugo has rental properties available. Miron made a motion, seconded by Denaway, to recommend to the BR&E subcommittee to send a letter to the businesses in the Avalon Building that Hugo has rental space available. All aye. Motion carried. ADJOURNMENT Denaway made motion, Thistle seconded, to adjourn the meeting at 9:55 am All aye. Motion carried. metroMSPorg ... a powerful site selection & economic development tool for the 11-county region MetroMSP.org ■ MetroMSP.org presents information for the 11-county Minneapolis-Saint Paul metro area • Free to users; funding provided by public & private sector partners ■ Real estate data provided by the Minnesota Commercial Association of Realtors Two Major Areas in Website ■ Regional economic highlights ■ Geographic Information System (GIS) based site selection tool including ■ Real estate listings ■ Demographic, workforce, economic & business information r Ir I, B-s't Place to Do Business Home a e 11-county Minne3polistSaint Paul n consistently ranks among the best places to do business In the A ca-"N United States.Three things set it apart i C usW —Nv a robUst diverse economy,a highly O*a a Co N `: educated workforce,and outstanding quality of life.Ito wonder Metro MSP ,a„reg,MK makes the short list of site saledors y .Ower klrnaaa^5. business owners.3ndentrepreneurs -Ism w:nN from around she globe. s �m:•ssv cant: sWeSFhow —8ai ar3arc?rr _nchored by then3gship cities of C—t' ,1—e3polis.Saint Paul and -TQomington.this thming metro area includes the 11 fastest•grorJnr, counties in Minnesota and one of the strangest economies in the U.S. gfg+carM 9arac Explore the Twin Cities Region:Find Facts,Stats and Sites ureal R.�r Enarsv _ To find out more about how your company can prosper in the?.temp M5P region e sxpIora atwut?,retro rasP.For a quick New of compelling economic development uua L,a, statistics.go to the Data Center.To search for available commercial or industrial Mt>CA8 A, lcl properries.dick on search Properties.That link takes you to a powerful,C113-based vwAtQ”DEED Site selection tool called MSP Prospector Its interactive mapping program enables ;ou to quickly locate buildings or land.access site-specific demographic information, In @ank n P e t o 1 Sherbume County w Locadon&Access Sidebar accesses cigandR...... Sherburne County f4arapi county profiles -- with lWin - LISPrand enn,ititiess niquatVa links to map and LISP region,itis uniquely p - �_";.,ry Cloud area and the northw - .:-1. business bestoboth regio demographics. Dakota C�N; - begin 2009 linking Big Lake wi po Is.-n zr enSion of the line rl.ran cosxy northwest to St C�fted age. -IYr d r�tm -Otv ar rFN�iu,LS i�ceunN. Sherbumeng businesses from all sectors find the sites. Ramses C: tv. .: world esources they need to thrive.A variety of successful business and - sane ami al parks and active economic development authorities support development S-a Coram activity. �IY•b�'a CCN wasnmolas C:�, N-1 Dsh rs Mao of Sherburne County �as•_.ti Major Industries& -�t ` Links to MetroMSP private Cx mc�s Eraav 3 G»at rSver Ewm• concrete products,tin sector partners Health Care invested energy companies an title of`Energy City'by the I.linnasota Envtronmzntal Initiative.uwcnn trio wx DEED _ raeNrsst/ti'i�Ea Population 8 Workforce � • .rl ' t Best Place to Do Business The 11-county l linneapohsiSaint Paul - region consistently ranks among the - best places to do business In the United States.Three things set it apart ca v. r a robust dnerse economya highly educated workforce,and outstanding n a N Oual;tr of life.?to-nonder bistro LISP rY , . ma bu Forty-plus alternating y - fromheadlines. Click the -QTY rar FYX �V! , Minr "more" link for «� Ind additional detail & a co° summary of recent e,in the U.S. "National Rankings" EXF Stats and Sites - 14v�yy To find out mon about how your company can prosper in the Metro rasp rasion. explore About Metro MSP-for a quick view of compelling economic development statistics,go to the Data center.To search for avaltable commercial or industrial - properties,Click On Search Prooerties.That link takes you t0 a powerful.GIS•based _ _ SIN 34160011 t001 CaU/d MSP Prospector.Its interactive mapping program Mabll4 you N quickly IocaN buildings or land.access site-specific demographic information. As Top Ten Reasons 1.Robust Diverse cconomv _ .Highlytry Wo Sidebar that makes - --- I Histort of lnnovadon the business case for - -` "Why Metro MSP" Data'":c:ncr .Growing Pogulation 3 Laborforc tiarrwri:arev -Ori of Eraasntrn S.Easy Access to Llidvaest.national and Global Markets -OW of Nrws�oo+,s Isa.^.n C N gsMzev.w"h 6.Competitively Prices Land and Buildinas -Gtv of^:n•FaM Sia CORN j 7.Reliable.Affordable Services _ Sre:�am.."wtr 3.Progressive,Pro-business Leadershio i 9.Exceptional Quality of Life Pssrace�es:*•k 10.Consistently Hiah Business Rankinas �eceerPcv+t-^mry - - axcs - :weat 1.Robust.Diverse Economy i(faJG i2Ya'sJr The Metro LISP r egion supports one of the most diverse economies in the U.S.The ymneaoca Cera re9ion's healthy collection of companies and economic resilience earned it the title of `best metro center for business'in 2007 by Varkef Vatch.Nineteen Fortune J500 earx companies are head uartered here.;mother 15 S&P 500 firms call the Turin Cities � • e .t l •t l Business Development Resources "Resource Center" sidebar with M. links to research, reports and business development resources rya -cry arYrr."ao^s Data&Research isa�c Jnr,, -C.fv 21 Zaw F Center forUrban&R If it niv r t f 1.1i n Scott Cauoev Saa4woacoy,r.• CUR4 is an all-university center for applied research and techn ce.It per..-atm c—ry !! supports research and pubiishe3 policy-related reports on a wide an and vrc—c, regional issues. Compare Minnesota This interactive tool enables users to do see how Minnesota compares against o CemnMt ertnw . states on a range of critical economic development factors-including business 3nai Riyr E performance,work elhic education,innovation and livability. Groat North Alliance Flow part of Twin Cities Compass,the Alliance provides objective information about the Twin Cities region's competitive standing and convenes stakeholders around critical compe56veness issues.it published The Great North Opporh rity Forecast Regional Overview ► Regional Overview Location a Transpenation 'Norkforce Introducing the 6linneapolis.Sai Re NO" ;Economy McVo lASP take.its.ame from I for thi financing a Incentive _ die ., .; International airport LISP.The ion r duality of Life centers—Minneapolis.Sai in Taxa Cities. Links ► As the 13th iargest United States,the region is one of the most unly.It is home to more than 3 Drop-down "About Metro MSP" iousandsofpristine lakes.Its I.one of the best educated In menu with descriptive info on 11-county Metro MSP region wYSY:t Cau^.N Despite its reputation for cold winters,the Metro LISP region boasts one of the hottest business climates in the country. Asaazattjf as x -- • LferxefiVatch named d the best metro area for business'in America in 2007. Cancerzss Earav- Great Riser Erwsr • Fomes echoed that sentiment plating the raglan on its 2006 short list of waa AW 'best places to do business.' =� • smarcan City Business louma;a listed it among the top ten metro areas for "hi—ta MEG small business'for two years straight n:+t!::.esr antes us a•nac Afth -�� Oenagrsphia ► MSA Employment Percentages by Industry iJo kPorce ► Economy ► Percent of employed people 16 years and Older ,vegea Agriculture,forestry,fishing and hunting,and mining t% r Construction 394 Carry Ca N Lfanufacturing 14% Stsi#BCarN ;rhalesaletrade t% wtoa C.amN Retailtrade 11% An,W, raripora;c-.a-c,:arercu3;-,.aryc.tr_i . : -Q,YV�a = information ?'4 Isanri Crum ' ear+sei CmrN Q1rance and S-auranca.ano regi estate and rental and leasing 1.": '� = `•� d Professional,scientft and management,and administratr.e and waste tim C.WC 1 mart•gerrKnt services 12% Ed�uticral ser:,Ces,heath care,and sccal ass,st3nce 121-,; -,t - •� 1 Arts.antartanment and recreatdn.era accommodation,and food am _-. Other Services iexcept pubic administrsticn; a% i Pude adirmiotration 3% Aa 1,4 eWc Caigsh,tErem. 3��VICWUS6ra•x=A„•Ya,.Z..—m—Yfc.ay Drop-down "Data Center" menu with detailed charts yl =tand graphs 1 rEEb us 4uk a tSearch properties - Your door to a robust, user- defined process for selecting the , best business location • oa+wu Cvrrr t•r.,Vice ru,,,N pualiN of fife.tJ0 wonder WI@tr0 At$P _Urr�/eramrzr makes the short list of site selectors. -Um 0 ebPr>et:OJ business owners,and entrepreneurs tcanr cy�N from around the globe. Rx,:sev ,;.N SGdeSho>: -Ory of3.wrPw✓ 4catt".1:N Anchored bythe flagship cites of s ,,vgif.C_r, Minneapolis.Saint Paul and w.u:IWO C;irr ` Bloomington,this thriving metro area wr,+c_W includes the 11 fastest-growing counties in 6linnesota and one of the strongest economies in the U.S. Aszocates Sy* .M«m a.rte Explore the Twin Cities Region:Find Facts,Stats and Sites cuuwxus Enacv cert wve`�"� To find out more about how your company can prosper in the ttetro MSP rection. explore About metro t,15P.For a qulck Aew of compelling economic development U-0 tvnek 5 stabstics.go to bre Data Center.To search for available commercial or industrial UN art properties,click on search Properties.That link takes you to a powerful,GIS-based x��•ewu Leo i site selection tool called raSP Prospector Its interactive mapping program enables ou to quickly locate buildings or land,access site-specific demographic information. us ilarK i 3nd cienerate,instant o Search Properties metroMSP J 'QA���au� ' 'o YIWT9G• I�.mmin.i,s b•4 ww'.99va.FaR ,:..m.W_ S.•Pl P�op•.w hamw y.•NRtl.rNapvw.Mr � i 11 County - Minneapolis/Saint Paul Region 1 TM B. Edi Va. NRory (Iaok—M dMieks Lads is* User-defined search for sites and property based on location, use & size ai aro e r es ,,, (Indusmal6uilding t®{ r,oe. Retail Building Warehouse Building Land W &•�•\Flt Jo '.:) .lalmum Sde: 30CC0 WISCONSIN _. _ 1 _ Unrts. Square Feat ,..neesorA�,� ,]prCpemes for le ase L_,, "" _� ❑properties for sale Search Properties > • J © SearehbyAddrass DIRECTIONS Displaytin maps To search for an a 1:1,le site orvadnt building. Q Aerial ❑Aupuns t. Seled me type of property yob want ❑Colleges 2 TjDelnanumber t0 rmeminlmumormanmumsVa ❑Nospdals property iou wain 3. Select a YDU Wardthe seardl to be in Square Feel(for ❑PalrS buadpfgs)or Ayes ifor land) ❑Railroad LEGEND 1. Soled flbuwanta propedymatis par lease ❑Major Retail Centers 5. Seled a youwam a property thatis for sale. ❑'Sizable ""ON c•"^ S. Click on Inti search button °only ❑Ytater Oodles cy c°uMy To search lot a property by Parcel Number N. Edi }kw t.Faty Qod.lwb (herb Look tlsb ': Matching properties are shown in a comparison list & on the ma / �S 'A m' __ 5 PrcDerti�rare fourW 21 -509am� "'n, �� i Q f4 7n I rain St 5. ❑ at 99111.St 55107 'e t Compere Pmaert)es p �'•°°^ , � l ...'.1. Save Selected Saved Silas 1 DIRECTIONS FOR iIEY':34o PROPERTIES: Select.properly by didafg on a propsrtf link fisted ab%*ora prapertf shown on he map. Oteyay on 2 ❑ � User defined map ❑C.aagep �He.::, f layers can be ❑Parks �R.Am.d LEGEND "switched on or off" ❑Maj,R.Ull Canters U c°°r. °1Nry ._ .. .. Q9chooh no guarantee or representation about the amuracy Cr r'Y°ry —pletenessef1h.m Dnrldbon.and Cladamlall..naneee. ❑Water Bcd.. ceurp egress or implied.lndlldng but not limited to warranties of nd E. Ede !dw Wary aodwft a4aris Io* d* . . Property reports oil metrprovide detailed a del« information quickly ' ,�,,.. ema,l A-d Soo fth Report provides real as estate info with related broker & economic _ development contact - reet Adde.s: ?00 S Sm at information aMbW ,.a aiiraad - h nlmlaa AvaMMW 0,000 S7tt I]Maw Ret all Cent", ❑ � s ' ❑Scnool4 ,.i, almum AvaNatMe: 10,000 SqF[ ❑tNatar Bodies Ej o.�. rSaW no E. Ede 'tar. If(— flo&,.+s 94.0 Iods Ndo metroMSP t' Ma 500 S Sth St �J' � Onntabl: En_ad AieaC.i word E.ce1 ._ Ne«Star w Px-.h:sites t � .. A x // • clap. r � �� i � �_ Send info to printer iM or e-mail. Use AQ Word, Excel & ' Acrobat to edit & onmoa [D .. prepare reports ' �4anals ❑mporla F. .. ,.. .. -.3 ,., ... ❑Colleges fast Addraes; °00331n 3( ❑8 PIM e aaaWe es ❑Parks pe: i0ice ❑Railroad a ' rtlmum Avaeabt.: 5,000 SpFt ❑Malor Retail Cant. 40 000 ❑9rhOW. xY swmum Avanawa: ❑Mfa(er Bodies a^ r5ate: no Analyze Sites In Seconds ■ Define a time or distance from the site in order to... • Analyze workforce characteristics ■ Determine if there are enough clients or shoppers ■ Identify age, income & other factors ■ Identify businesses located in the area Ete Edt Ykw HOWY ttoel.mrks Waft Iootr Pleb Minneapolis/Saint Paul Region 1�!Oemoprsomo New Sea': 2acxbvtes �y f C{( ..;,. ►._ /�,.y' a:�. ". Site: 500 SON [ r i SOBS 8In SII a�~ Repoli Consu ar Expanditlras �8usinasa and Norkforce cmploymant ragas 24 � miles � Calculate Crhe Time 5 minutes Calculate DIRECTIONS TO CREATE 4 DcNOIR+PMIC REPORT User—defined 1..SeIeQYNQ7e orrepurt from to pup4own menu. 2 1�Ve IRM distance from the coppery you want M ropon ;, reports provide ' er m;�,owtaertRro and,demolgapmcrepen Wp"mee2 - Wmap; business intelligence �'sralsHoffman Disdaerhef.ttaterial p this website is proteded by ❑INpoM --- oopydght and trademark laws.The informabon wnfained in this o Colleges web site W finked sites is provided on an'as is'basis.'.',e make ❑f10fOtals no guarantee or representation about the accuracy of _ CAnnpiet—s of M If—bon.and di.daim all wananees. parks a,rose or Implied.including but not limited to wartanaes of �]Railroad merictantabeity.ttrhessforapartMarpurposeandnon- ❑Maur Retail Cenle, InRlrlgement'No ars not responsible for any damages arising w.w.owMr from the use of hnformatae.t on on this sis your responsibility to 13300019 Mcg, hndependen":ostgate the information s accuracy and ❑Water Bodies completeness,and to dararmino 11 your satisfaction the suitability Ne E� rir Hoary 11-sada, GM-ft Iods Heb Create Minneapolis/Saint',Paul Region Demographic Reports Br S BthIr w°i'� eefn r zoo s 81h St 4` a� —i Ofemnce: 10miea a\ �� w i \ j �W •` � Total 2006 Populaaon 1,133,109 eo `O y cwt (j� TOIdI "h w'"' S 1 W 2011 PopWaaon 1 --- .0 _. 4, ) © Total ` IAaH 566.223. 49.1% a Otsplay on mat.; Female 586.886 50.9% RI°eRals �, ' r almm f Total Demographic 0.4 .77.095 9.794 Analysis by ` 3-9 58,572 5.9% LEGEND 10-19 td2,12T 12.3% Radius •^e'•c"•" 29.29 ;70.734 14.8% = 30-39 172,069 tt9% c-'.... EM ER v- lsrtwy 2-d— 94N4 Inds Heb Business & Workforce s y C Analysis... nos Mk Sl !.. Center SOO s 31,51 J a OrNe Tuns 15 rtndutea e.. TotalEstadishmeraa 54,5T Total Emgoyees 1090.050 e Total % _ 7 14limpayees 36,?86 57.0% 5.9 Em Ployde9 11,676 132% `� !} 1049 Employees 6.867 10.7% W V a1 ! 20.,9 Employees 5,1458.0% 5049Employeas 2.031 32% S 100.249 Employees 1.317 2.1% ...by Drive Time 250499Employeas 325 0.5% f: 500-999 Employee, 125 0.2`5 I' 1000-Employees a, 01i LEGEND Total Ori„Torr � AORcuture.Forestry&M Fist" 34 01% :`t 312r 8:]I„ �__ ❑ awu ce..er wt,ldalral S—l— : -., Goal ane ora Llmmg 8 ,"i t 56 C& Vow Fs$ur, Seshe■lus 04ks Inds hsb Click on a "business type" to identify specific businesses located in the area O1�"MOp°"!. t�T' •� NewB sn s Reo,rt I o ss '� ■ Business COWIIS 500 3 8th Sly ; Iia on Cosiness t�Pe For business list •-- ■ _ Cen SamSt SIWnnn Distan mitis �■s• ° 4. Business Type Total K 7�F� '�. ■RETAIL TRADE 502 7.3% UNING 0.0% s �'�f t� DRI:fIA e,FFFfT OF OI.IPn1tl Cnf10 18 03% ENTERPRISE^ 4 0.1% ■1TIITIFv D AD An NISTRATT.E t11D SUPPORT A11D:PASTE 235 3.4% .� .0 © LW AGE1JENT 40 REMEDIATION SERSICES 0 UNC AgSFirn 467 6.8% '' "'--'-------• DEDUCAilOtV1 SERVICES 58 10% IdentIdentify business ■HEALTH CARE 4ND 90ClnL ASSQTANCE 86312.6% ify 1. O'4HOLESALE TRADE 137 20% competition & �rF ■OTHER SEFMCES 459- 6.7% C ■FIM1laflCE tfID IN9URAflCE 479 70% synergies LEGENDF:. ORIFORWTON 272 4.0% xu c 5 RI R F'>A TRY.FIcHl11:t11D 3 00% i+p LJ'aetel Bo<les ��•..>.m..,...n.....•..v,n- cews.<weti D PUBLIC tDMIN187RATION 261 3.8% EM Eds — ISF«Y &d-,I. G1.ft Iods Heb ■.. Region metroMS Hose 3 — I1i Ba."ew � "q��s i �� - �uuW. Ema,1 estac+t ;Yscd F3v1 c*}\ ■. OM1-�se�, t �•"Op" fes ':'J' H-8 - Retort • ■ h: \ snow nnusmessmausnes Ot Sth Busmess Counts Stye.. 3 I Canter 500 S 8th St ssmwuoli, 7 o I ,! ;�\` "ett�• Dlslente. 1 mites j R■ I �� '44 "°es..,,` Name Ad&.. 4o, ANGR-THICS It IC 206t-13RD3T j ��� '.1 � '.`-. - -- ADt AfICED DESICII A:•rtUNGB tLGRA PRPIT&IMAGING 618 2ND-'+E S G5 N_PMAGRMINC9 PWefTSHOPs 811 LASALLE .E 07 � -� WPAREL B ASSOC 1300 NICOLLET A`.E .0 J a APPLE BU9tlJE99 FORTIS 401 S 1ST ST N1TE A_ 12 S 6TH ST 1001 Specific businesses in a "business type" are listed & identified on BACHAW4 PRRlT NG CO 410 W-OUEr hALL 222 _„sw�aurvvATEe ItiO .619 NICOLLET WCL the map BAAGAN CONTASIER 500 N3RD ST BEL CAWO DES" 22INISTST300' 91BA PRESS PO BOX 15287 �clel-:.31,a C.len :8038TH ST. ❑^-moms c.... >.,... ,lar-,.1 a_ , oY BD`:IM11E FIM1It71CltL PRI11T 333 S TTH 4T 2110 Community Demographics On "Search Properties" main screen, click on the "county profiles/demographics" link a Then select 11-Coup Region, or a � 11-County g county, or one of three anchor cities (Minneapolis, Saint Paul & -' a Bloomington) ° � 11«rd.nuryar°�. Ns.. DI wlwlcnm ascstruerdraaam L j y1 aMNY rtM.inr rsnm sm"'I'4smY _ Yt: � � iW fGaNSCx f •w'�, r '..dewassdMNamibM1 ab SSC- M'mNrs » ( s .n{NLLsiGwrl vindirNs°b arri�Nsal irt3E._.... � j +atNab4ry iusrlars�lnia svWsesn4 aM1SYn��Ms+M1 sai d bX fsrtl✓q ,��- dMmmam en tr pass uqb r.�d faNen ubtiVr M*1 saL+try"R Csesns. Yan sy+�ms w �a+r bran.oaralauwowrirlanceam w°wr.� .. c.7+-_xe�39%im°eYC UPo;Mlnwsnel. . GIS Planningm - r oMinneapolis/Saint Paul Regiop Dakota County � ' sy. f Par Total -1. $0005 `f �I �....e... i__. 114. �–i�� Cparel 2.979 773 9b°ngo (` t.lan's. perel 588 83885 Parel 112 21.251 ns Apparel 993 148251 _� --�] nt3 ACPalel t34 19,974 � 0.]th'e3r 332 07,4:2 i.,.� -00-1 Sell—an.ACPee-Oils a91 73,286 .v. Ecucauon 1.390 237.a02 -.– Books Md Supplies 223 33.2a1 Tuipen 1.387 204,131 Enlerhrnment 3.904 323299 Fets And 4amis3lons 982 143.582 C 1Itlsp Ana AUWp EQlpmerlt 1.180. .175.281 _ R.—U.nal E9ulpment MC 1,362 203.422 3u Pp11ea Consumer expenditures, demographics, ��a"12" ':8 ''7,00.579 0057' workforce & business information PB�,ra.a 5�, 1880 478.443 746 11136, available by it-county region, counties 3.620 54.'72 ra Insurance 1,718 281.039 CareS�Mea - 872.. 130279 & 3 cities Cars Supplies Mp 1.000 149,234 Redevelopment Areas & Publicly Owned Properties metroMSP Participating cities and counties can . �e Mamn R.U.Tem�Ta upload information on publicly owned "` ME °° Ram properties and redevelopment areas ,d' INxa aacaaoamd uaandmwe a.d dmeawa ea' Rd«Mp l:l mate -ti.. • rs..n ..u�.w — nwarYe n eferuaYT aoaulTe ararx/d z�mdTaueldM Mtt.:]I• 3N OlOim dY.rnY.eta d�ngel TWdy`.Und4MMN+eartd.aad .� M°pulla si �O y; -.V 'd c � a^NMnCem�hTa �A d M dr;tamaga a1aN0 ' �.A �of m ♦ + I �'•� ,nMus YNpm ?as 4 somslaLNN y ti,: S ;n^eGlMenM tOb.pdtimatlo 4mN ,`. e` �e.,...�e.b _ '.'.+arkleM ONarmnaN MhMnTaSLLaH! �... Y 'a..P .4i- { " TewxeMbr n eea-,n,trq t.uona J !•� �_ adeNwnrma dTelaT•ew.ueelTkr n.MeonfaMFq MI yy S�Illt .Rd r.�IdmTra dny plr.ttl metroMSP �� u»eac� � � =xmUaL 300a:HPuom.TC YRiNbRnmM 4 �. I f ` jNWheat Cal H—.Vpow Lanon] r Appratlmat.Sias 9.000 SF � cg ablue aw.eaursay i : Ii a�'q � rxatsama„amsr. tie rain straet Giry: SWM Paw Redevelopment site info includes Pt;o2a, access to the community's Rex redevelopment vision including 0—Opppn: Htatp„caw fur,lntmertor maps, documents, plans. 85�nran"r•1'pmsn' G011taCl elam.: I.laai9 FlancM1ett Provides city contact info specific mane nanrne¢E®scaw.mn.us to an area or site "�" 651290.970$ C9ck a.-for 6.mpor.paap.•r[wna Nf•reawsfownant ar•e Cfor oustne ws re„e. nt metroMSPor 9 ' For technical assistance with the website or questions regarding MetroMSP.org contact: ■ Todd Klingel, President, Minneapolis Regional Chamber tklingel@minneapolischamber.org ■ Diana Johnson, MetroMSP website coordinator djohnson@minneapolischamber.org ■ Linda Anderson, Executive Assistant landerson@minneapolischamber.org ■ Janna King, CEcD MetroMSP Project Consultant, Economic Development Services jkingC@econdevelop.com Oversight & Management Steering Committee (7 members) Minneapolis Regional Chamber Convening Development Elect T Administration �► Foundation Stakeholders(all funders over$5,000) 1 1 Public Sector Private Sector Mike Ericson From: Molly O'Rourke [Molly.O'Rourke@co.washington.m n.us] Sent: Wednesday, March 26, 2008 1:55 PM To: Mike McGuire; Chip Robinson; Administrator; Mike Ericson; Scott Neilson; Craig Waldron; Scandia; Larry Hansen; Clinton Gridley; administrator@cityofafton.net" Grant; Eric Johnson; Connie Fredkove; Birchwood; Dellwood; Clerk/Administrator, vkeating 1 @comcast.net; Ryan Schroeder; Clerk; Clerk; lakelandshores@gmail.com; Clerk; cityoflakeland@isd.net; Karen Pirozzoli; Susan Hoyt; Clerk; CLERK; Landfall; Larry Bodahl; Clerk; Mark Sather; Sharon Ornquist Subject: Request for Economic Development Contact Information As mentioned in a previous email sent a few weeks ago, Washington County assisted in funding the development of a website for site locators in the 11-county metro area. Since Washington County is a charter member, every community in Washington County can have an economic development contact listed for their community on the website. If your community would like this information on the website, please let me know who to list as your economic development contact. Listing this information will allow entities that are interested in a property in your community to contact you if they have questions. The contact information that I will need is name, address, phone, fax, and email. The new website will be ready to launch in mid April. The website will provide real estate, labor force, business information and other critical site location information (e.g. transportation features, foreign trade zones) on a geographic information system (GIS) platform. It will also provide a neutral medium for directing prospects to community contacts based on the site selector' s criteria. For each property, the site will generate contact information for the appropriate Realtor, city/county economic development contacts, and chambers of commerce for office, industrial and commercial site location decisions. The site will be the first in the nation to include planned development districts along with specific properties that are available. There will also be opportunities to list available public sites as well as those being marketed privately. We hope you'll find the site useful as a marketing tool and encourage your participation. If you would like more detail about this website, please call Diana Johnson, MetroMSP Website Coordinator, at 612-370-9166 with any questions or myself at 651-430-6003. Molly O'Rourke Deputy Administrator Washington County 651-430-6003 Molly.O'Rourke@co.washington.mn.us 1 Rachel From: Bryan Bear Sent: Thursday, April 10, 2008 9:27 AM To: Rachel Subject: FW: Economic Development/Site Selector Web Site Ready to Launch -Help Requested Rachel, it looks like we missed the training. There wasn't much notice. Why don't you should call Diana and ask her how we can be involved. Thanks. -----Original Message----- From: Mike Ericson Sent: Sunday, March 16, 2008 1:20 PM To: ALL Subject: FW: Economic Development/Site Selector Web Site Ready to Launch -Help Requested -----Original Message----- From: Molly O'Rourke [mailto:Molly.O'Rourke@co.washington.mn.us] Sent: Thursday, March 13, 2008 12:59 PM To: bsittlow@attbi.com; Mike McGuire; Chip Robinson; Clerk; Mike Ericson; Scott Neilson; Craig Waldron; Scandia; Larry Hansen; Clinton Gridley; Mitch Berg; Grant; Eric Johnson; Connie Fredkove; Dellwood; Clerk/Administrator; vkeatingl@comcast.net; Ryan Schroeder; Clerk; Clerk; lakelandshores@gmail.com; Clerk; cityoflakeland@isd.net; Karen Pirozzoli; Susan Hoyt; Clerk; CLERK; Landfall; Larry Bodahl; CLERK; Clerk; Mark Sather Cc: Jim Schug Subject: Economic Development/Site Selector Web Site Ready to Launch -Help Requested As noted several months ago at a Washington County Local Government Administrator's meetings, Washington County assisted in funding the development of a website for site locators in the 11-county metro area. The new website will be ready to launch in mid April. The website will provide real estate, labor force, business information and other critical site location information (e.g. transportation features, foreign trade zones) on a geographic information system (GIS) platform. It will also provide a neutral medium for directing prospects to community contacts based on the site selector's criteria. For each property, the site will generate contact information for the appropriate Realtor, city/county economic development contacts, and chambers of commerce for office, industrial and commercial site location decisions. The site will be the first in the nation to include planned development districts along with specific properties that are available. There will also be opportunities to list available public sites as well as those being marketed privately. This unprecedented regional partnership puts critical data at the fingertips of businesses, site selectors, developers, economic development professionals and planners on a 24/7 basis. Users can search commercial/industrial real estate listings and redevelopment areas in the 11-county metro area in conjunction with powerful new user- defined economic, demographic and workforce data tools. To fully take advantage of this opportunity we are asking for your involvement in two ways. 1. Your community can learn how to put this versatile website to work by participating in one of six two-hour training sessions to be held March 25-27, 2008. Click here to register online (or paste the following link into your address bar: http://www.surveymonkey.com/s.aspx?sm=pE56LrOvIuzcbCMF2yK6mA_3d_3d) Please register for training by Monday, March 17. 2. Since Washington County is a charter member, every community in Washington County can have an economic development contact listed for their community on the website. If your community would like this information on the website, please let me know who to list as your economic development contact. 1 We hope you'll find the site useful as a marketing tool and encourage your participation. If you would like more detail about this website, please call Diana Johnson, MetroMSP Website Coordinator, at 612-370-9166 with any questions. Molly O'Rourke Deputy Administrator Washington County 651-430-6003 Molly.O'Rourke@co.washington.mn.us 2 MEETING NOTICE Washington County Local Government Administrators' Meeting Wednesday, May 14, 2008, 12:00 noon Washington County Government Center 1494962 d Street North, Stillwater, Minnesota Conference Room 100A (Main Floor - South Wing) AGENDA Noon Welcome & Introductions • Clinton Gridley, Woodbury City Administrator 12:10 Minnesota State Legislature Update l tt l IM • Louis Jambois, Metro Cities Executive Director / • Levy Limits " t& `S't'Ails S cl • Property Tax Relief �'t nn,yAt4S-, 0� 12:25 Update on the 800MHz Public Safety Radio Project and the County Sales Tax Increase jpj- • Jim Schug, Washin tort C.Opty Administrator 12:40 Overview of the MetroMSP website for site locators ,5bO '--476 • Molly O'R urke, Washington County Deputy Administrator--� P6 L04JO tTr X-- A U6--AP70,--6W0&10, QMA— 12:55 City Updates & Discussion F 06a-VGELOP6--?" S OZ3S 0&3 17 ' A'V Uktc- • Foreclosures - I • 2009 Budget/ es - P�minalannin 9 9 9 • PFC Water Discussion/Update 1:20 Adjournment Next Meeting Date is July 9, 2008 WHAT LOCAL GOVERNMENT CAN DO TO ADDRESS OREC OSURES Foreclosure Prevention and Education Early Outreach to Foreclosure Impacted Households:Partner with the Minnesota Home Ownership Center to implement a Foreclosure Prevention Education Campaign,including hosting borrower's workshops for consumers, inserting foreclosure prevention information in tax statements and utility bills,encouraging agencies encountering consumers in crisis to have their agency staff attend a Foreclosure Prevention Training and to sign up for the Home Ownership Center's listserve. For more information on workshops contact the Minnesota Home Ownership Center at 651- 659-9336 or http://www.hocmn.org/ Actively Provide Local Referrals:Refer homeowners and renters to How Cities Are Communicating trusted local and regional foreclosure prevention and credit counseling About Local Foreclosures organizations. • Post foreclosure information on city website Reach Out To Local Renters in Foreclosed Units:Partner with . Insert information in utility bills HOME Line,Legal Aid,and Southern Minnesota Regional Legal Services (SMRLS�on their outreach campaign to renters. Direct • Host a foreclosure educational workshop renters to these organizations to receive free legal advice about their 0 Provide counselors at city hall once a week rights and options during foreclosure. For example,HOME Line at 1- 866-866-3546 (or see http://www.hometinemn.org and see Minnesota • Use door to door outreach techniques Attorney Generals Office for rights and duties of landlords and . Use local media: cable TV and newspapers tenants at http://www.ag.state.mn.us/Consumer/housing/It/default.asp) • Work with local community and faith Provide Helpful Literature and Web Links: Distribute materials organizations to expand outreach in targeted through city departments,utilities,and local non-profits,and provide areas. links on your city web site to trusted foreclosure prevention counseling resources such as Minnesota f lome Ownership Center, l IOMELine 0 Designate city staff and neighborhood leaders as tenant hotline at(866) 866-3546,the Attorney General's Office,and foreclosure information coordinators. lawhelpmn.org about the availability of services and other resources to assist home owners and renters.'. Promote"Don't Borrow Trouble"Consumer Education: Don't Borrow Trouble is a public education initiative that seeks to educate families and individuals about how to avoid predatory lending scams.The Don't Borrow Trouble help line has been established at 612-312-2020 to offer families a safe place to call before they sign anything that puts their home at risk(http://www.dontborrowtroublemn.org/Ol.htm.) Foster Pre-Purchase Counseling for New Homebuyers:Partner with the Minnesota home Ownership Center and its member agency in your area to implement a communications strategy that encourages prospective homes owners to attend pre-purchase training2 or seek assistance from a trusted advisor before signing any documents related to their homes. Increase Access to Affordable Financing- Publicize lending tools that may assist home owners in distress,including home repair funds. 1 City Management Of Vacant Properties Revise Rental Licensing and Housing Codes: Re-examine rental licensing programs and housing codes and revise or add to where needed to prevent lack of deferred maintenance and the lack of safety and security of affected housing stock. Effective ordinances include Point of Sale Code Compliance ordinances,Public Nuisance Abatement ordinances,Long Grass Implement Ordinances to Ordinances, etc. 3 If your city does not license rental properties, consider licensing as a method of tracking changes in use from Address Foreclosure Impacts ownership to rental and inspecting rental building conditions. Step Up the Use Legal Remedies:Enforce administrative code and • Point Of Sale Code Compliance Ordinance use legal remedies. See list of helpful city ordinances to the right. Legal • Vacant Building Registration remedies can include, for example, tenant remedies actions and nuisance actions which can be brought by a local government,a local ' Public Nuisance Abatement(removal of community group, a tenant,or other concerned parties. junk cars,garbage, building materials) Track Your City's Foreclosures and Sub-Prime Loan • Long Grass Ordinance Concentrations:Track existing foreclosures and use external and internal data resources (such as city early warning systems'and the • Recoup Vacant Property Monitoring and Federal Reserve data on sub-prime loan concentrations5) in a Board Up Costs coordinated city/county-wide manner to predict future distressed homeowners and manage vacancies. For example, some cities tag homes • Recoup Costs Of Excessive Use Of that appear vacant or have not paid their monthly water bill and leave Services information requesting the homeowner contact the city within several days—if no contact is made, the city turns off the water to the property6. Track Vacant Properties: Employ a vacant and/or boarded property registry and ask community residents to report vacant properties immediately. Educate Landlords:Educate landlords on obligations under city ordinances and state laws regarding property maintenance,rental licensing. Creative Board Ups:In areas where board-ups are rampant consider use innovative boarding techniques, such as artistic board-ups Coordinate Early Warning Data on Foreclosures and Sub-Prime Loans Acquisition, Rehabilitation & to Target Outreach and Remediation Neighborhood Recovery Efforts • Track Utility Billing(Late Payers)And Usage Target Public Funding and Financing Tools:Publicize financing tools that may assist new home owners to acquire and rehabilitate To I.D.Vacant Homes and Prevent Water foreclosed properties. Examples include a The City Living Program in Damage St Pauh ,Northside Home Fund in Minneapolis 8,City Advantage in • Track City Inspection And Enforcement Reports Minneapolis9,HUD 203(k) loans1),Minnesota Housing's CASA" and Fix-up Fund, '' and use of local HRA levy dollars in key areas. • Monitor Federal Reserve Data On Sub Prime Develop New Strategic Partnerships: Build partnerships with for- Loan Concentrations By Local Zip Code profit and non-profit redevelopers, lenders, realtors and other . Monitor County Sheriff Data To Track Street community based organizations that focus on the recovery of specific targeted geographic areas of your community.13 Address Level Foreclosure Locations Explore Bulk Purchasing Strategies with Local Developers and 0Monitor State Foreclosure Reports At GMHF Lenders: Partner with local non-profit and for-profit developers to And Housing Link Web Sites negotiate bulk purchase of properties from lenders to proactively revitalize affected neighborhoods and prevent foreclosed homes from ' Monitor Values Through County Assessor Data falling into the hands of unscrupulous speculators. and Property Tax Records • Monitor Police Reports to I.D.Problem Properties WHAT LOCAL GOVERNMENT CAN DO TO ADDRESS FORECLOSURES More Detail on Foreclosure Recovery Strategies and Resources 1 HELP FOR RENTERS IN FORECLOSED APARTMENTS:For a copy of a fact sheet on how to deal with a foreclosed rental property as a tenant,please see: When Your Landlord Loses The Building:Mortgage Foreclosure see: http://www.lawhclt).orz/documents/4121 H- 14%20 When%20Your%20Landlord%20Loses%20the%20Building.pdf?stateabbrev=/MN/ 2 HOME OWNER EDUCATION AND FORECLOSURE COUNSELING:For more information on foreclosure prevention related homeowner education see ham://www.hocmn.org/map.cfm?pa eg ID=5. 'POINT OF SALE CODE ENFORCEMENT ORDINANCES:For information on Point of Sale Code Compliance Ordinances,see this example from the City of Richfield:"Point of Sale code Compliance"brochure: http://www.ciAchfield.mn.us/Police/Inspections/PointofsaleBrochure.t)df EARLY WARNING SYSTEMS FOR FORECLOSURES:For more information on the use of early warning systems for cities experiencing increasing foreclosures contact Kellie Jones at the City of Minneapolis at 612-673-3506 or Kellie.Jones@ci.minneapolis.mn.us. s SUB PRIME LOAN CONCENTRATIONS—WHERE FUTURE FORECLOSURES ARE MOST LHCELY:To obtain data on Sub-Prime Loan Concentrations by Zip Code from the Federal Reserve contact Michael Grover at 612-204-5172 or michael.grover@mpls.frb.org. 6 HOW ONE COUNTY IS RESPONDING TO FORECLOSURES:For examples of how counties can respond to foreclosures,see:Hennepin County Foreclosure"Task Force Report: http://www.co.hennepin.mn.us/images/HCIntemet/YCG/Newsroom/Fi les%20PA/mortgage_closure_web.pdf 7 HOME PURCHASE LOAN PROGRAM EXAMPLE:For more information on Saint Paul's CityLiving Honig Program designed to assist homebuyers with purchase and rehabilitation of homes,see http://www.stpaul.gov/index.asp?NID=2350 'STRATEGIC NEIGHBORHOOD REMEDIATION FUND EXAMPLE:For more information on the Northside Home Fund which is designed to foster redevelopment of vacant and boarded homes,and seeks to leverage additional investment and enforcement tools needed to improve surrounding properties.The focus is on small geographic redevelopment areas,or"clusters",intended to make a noticeably positive impact on foreclosure impacts,improve the area's housing stock and to stabilize and strengthen the homeownership market.Contact Jill Kiener at jill.kiener@ci.minneapolis.mn.us and review httl2://w-ww.ci.ininneapolis.mn.us/cped/docs/nhf brochure.pdt: 9 FORGIVEALBLE DOWNPAYMENT LOANS:For more information on Minneapolis Advantage Home Loan Program(for targeted neighborhoods),which offers a$10,000 zero-percent interest rate loan that is forgivable over five years to anyone buying a home in which they will live in these eligible neighborhoods(PDF).Loan Program Guidelines are available at: http://www.ci.minneai)olis.mn.us/ct)ed/docs/Final Mols Advantage Guidelines.ndf Also see:ham://uww.ci.minneavolis.mn.us/cved/minneapolisadvantage home.asl2 10 HUD HOME LOANS.For more information on HUD loans,see httt):Hww%v.hud.gov/offices/hsp/sfh/203k/203kabou.cfm 11 FIRST TIME HOMEBUYER LOAN PROGRAMS:For more information on Affordable Mortgages for First-Time Homebuyers through Minnesota Housing's Community Activity Set Aside(CASA)Loan Program for first time homebuyers that helps low to moderate income Minnesotans buy a home.The affordable,low.fixed interest rates for up to 40 years are available to eligible homebuyers through lenders participating in initiatives in several communities around the state. Homebuyer education is required for all borrowers receiving a CASA loan. see http://www.mnhousing.gov/consumers/home-buyers/loans/MtIFA 000469.aspx Also see Minnesota Housing's downpayment and closing cost loans through the Homeownership Assistance Fund(HAF)which provides the opportunity for eligible targeted borrowers who qualify for an interest-free,deferred loan to help with downpayment and closing costs.See: http://w-%%w.mnhousing.gov/consumers/home- buye rs/l oans/M HFA_003407.aspx "MINNESOTA HOUSING'S FIX UP FUND PROGRAM:For more information on Minnesota Housing's Fix-up Fund,see htW://www.mnhousing.gov/consumers/home-owmers/Homelmt)rovementLoans/index.asix "NORTHSIDE HOME FUND—STRATEGIC CLUSTER REDEVELOPMENT PROGRAM: hut)://www.ci.minneaMlis.mn.us/ci)ed/docs/nhf brochure.pdf This document was prepared by:Minnesota Foreclosure Prevention Council,Greater Minnesota Housing Fund, http://w-%vw.pmhf.coin 3 Summary of Key Observations 1. 38,077 mortgages were foreclosed in Minnesota between 2005 and 2007.Another 28,282 are projected to be foreclosed in 2008—While the total number of foreclosures continues to increase substantially in Minnesota, the majority of foreclosures are occurring in the Twin Cities seven-county metro and in a subset of counties in Greater Minnesota. For example, in 2007 the Twin Cities seven-county metro' accounted for 64% of total foreclosures. The 10 counties in Greater Minnesota with the next highest number of foreclosures'accounted for 19%,while the 70 remaining Greater Minnesota counties accounted for 17%. Detailed information regarding foreclosure counts by county can be found in Figure 5. Foreclosures in Minnesota by Region 2005-2008(Projected) N 30,000 _. _.. C 25,000 20,000 4 Minnesota 0 15,000 —*—Twin Cities Metro 0 10,000 •--Greater MN # 5,000 O 0 ~ 2005 2006 2007 2008 (Projected)' Year 2. One mortgage foreclosed for every 54 households in Minnesota from 2005-2007—If 2008 foreclosure projections hold true, approximately 28,000 more Minnesota mortgages will be foreclosed by the end of the year. This would translate into one mortgage foreclosure occurring for every 31 households' from the beginning of 2005 to the end of 2008. When looking at 2007 alone, there was one mortgage foreclosure for every 100 households in Minnesota. Overall, the highest rates of foreclosures in 2007 were in Greater Minnesota counties directly surrounding the Twin Cities seven-county metro area (Sherburne, Isanti, Mille Lacs, Pine, Wright, Chisago, Le Sueur and Kanabec). Detailed information on foreclosure rates by county can be found in Figure 12. z Twin Cities Metro counties in order of highest to lowest number of foreclosures in 2007:Hennepin,Ramsey,Anoka,Dakota, Washington,Scott,and Carver s Top 10 Greater Minnesota Counties with the highest number of foreclosures in 2007(in order from highest to lowest):Wright, Sherburne,Stearns,St.Louis,Olmsted,Isanti,Chisago,Rice,Crow Wing,and Mille Lacs 'This foreclosure rate varies from other foreclosure rates calculated in this report in that it sums foreclosure counts over multiple years to compare to the 2005 household count. Page 2 Foreclosures in Minnesota:A Report Based on Sheriffs Sale Data(April 2008) HousingLink 612.522.2500 3. While 2008 remains on track to be another record-breaking year, current indications suggest the pace of foreclosure increase is slowing—HousingLink's newly updated projection for 2008, which is based on Ql 2008 sheriffs sales counts and a refined projection methodology, indicates that 2008 foreclosures will increase statewide by 39% over 2007's record-breaking level. This projection is based on historical patterns and does not take into consideration the potential impact of remediation efforts, the effect of previously foreclosed homes on the state of the current housing stock, resetting adjustable rate mortgages, changes in mortgage market conditions, variations in home sale prices, or other factors related to changes in the economy. It is lower than a 2008 projection previously published by HousingLink in November 20075. 2008 07-08 2007 Q12008 foreclosures Percent foreclosures foreclosures (projected) Change (Projected) Twin Cities Metro Totals 12,974 4,213 19,936 54% Greater MN Totals 1 7,430 1 2,175 8,346 120X Minnesota Totals 20,404 6,388 28,282 39% 4. Nationally reported foreclosure figures continue to significantly under-report the situation in Minnesota—There continues to be a dramatic difference between the number of foreclosures recorded by HousingLink and RealtyTrac, a national foreclosure data source that is frequently cited in the media.Although RealtyTrac's counts include properties that are in three stages of foreclosure (default, notice of sheriffs sale, and redemption), which should yield a higher number of foreclosures than obtained by HousingLink, its 2007 foreclosure count is nearly 7,000 less. Minnesota Foreclosures Organization 2006 2007 HousingLink 11,207 20,404 RealtyTrac® 5,9956 13,6157 5. All Minnesota counties are now tracking foreclosure counts as of 2008—As of April 2008, all counties were able to provide HousingLink with sheriffs sales counts, which is the measure used in this report to track foreclosures. For 2005, 2006 and 2007, the number of counties that did not report data for this report was 13, 9 and 1, respectively. 5 2008 foreclosure projections previously released by HousingLink predicted a range of 29,000 to 37,000 foreclosures for 2008 and were based on data available as of November 2007.Current 2008 foreclosure projection counts are revised based on data reported for Q1 2008 and recent foreclosure trends. RealtyTrac.See"More Than 1.2 Million Foreclosure Filings Reported in 2006." http://www.reattytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=1855&accnt=64847. 7 RealtyTrac.See"U.S.Foreclosure Activity Increases 75%in 2007." http://www.realtytrac.com/ContentManagement/pressrelease.aspx?Channell D=9&ItemID=3988&accnt=64847 Foreclosures in Minnesota:A Report Based on Sheriff's Sale Data(April 2008) Page 3 HousingLink 612.522.2500