Mayor Rybak is holding a press conference this morning to give an update on housing production in Minneapolis. I've pasted an excerpt from the press release and a production report detailing housing numbers that will be distributed at the event. Laura Sether, Office of Mayor Rybak, Standish-Ericsson Mayor R.T. Rybak will give an update about multifamily housing projects in Minneapolis on Monday, Nov. 18 at 10:30 a.m. at Portland Village, 1829 Portland Ave. S. - a 26-unit housing project that recently won the National Association of Local Housing Finance Agencies (NALHFA) Meritorious Award for innovation, extraordinary benefit to the community, replicability and affordability. On Nov. 8, the Minneapolis City Council approved $2 million of levy funds for affordable housing and directed the MCDA to recommend projects for funding. At the Nov. 14 Community Development Committee meeting the MCDA will recommend seven housing projects to receive levy funding. By the end of this year, the MCDA will have allocated direct funding of nearly $13.5 million to multifamily housing projects, up from approximately $8.2 million last year. In addition, nearly $89 million in multifamily housing revenue bonds have been approved this year. These funds assist projects that meet MCDA and City priorities for affordable multifamily housing, including supportive housing for special needs and homeless populations, large family housing, and new affordable units in non-concentrated areas of the city. .Minneapolis Housing Production Report, November 15, 2002 Total Production in 2002: Number of Units Completed or Currently Under Construction 3,169
Number of Affordable Units (<50% MMI) Completed or Currently Under Construction 1,259 Number of Affordable Units (<30% MMI) Completed or Currently Under Construction 705 Pipeline: Number of Units Funded by the City but not yet Under Construction 1,648 Number of Affordable Units (<50% MMI) Funded by the City but not yet Under Construction 1,237 Number of Affordable Units (<30% MMI) Funded by the City but not yet Under Construction 948 In addition: City release of $2M of HRA Levy funds will support an additional 152 units, of which 136 will be affordable <50% MMI and 128 will be affordable <30% MMI (84%). Source: Minneapolis Community Development Agency. _______________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
