Lee Pao Xiong

1
City of Minneapolis Housing Investment
Activities

• By
• Lee Pao Xiong
• Director of Housing Policy Development

2
Objectives

• Organizational Updates
• Review role and production data.
• 2004 housing policy agenda.

3
Background Updates

• Challenges faced by Minneapolis
• Housing affordability
• Low job growth
• Low graduation rate
• Growing traffic congestion
• Others

4

• McKinsey Company
• Financial Constraints
• Strategic Leadership
• Clear Goals and Priorities
• Accountability
• Coordination
• Others

5

• Results
• Creation of CPED
• Housing Policy and Development
• Strategic Partnership
• Planning
• Economic Development
• Major Focus
• Jobs
• Housing

6
City of Minneapolis Overall Housing Goal
Foster the development and preservation of a mix
of quality housing types that is available,
affordable, meets current housing needs and
promotes future growth.
7
Role of Minneapolis in Housing

• Our Expectations
• Affordability
• Leveraging
• Quality
• Housing Mix

• Our Role
• Own and Operate
• Finance
• Fund
• Support Projects
• Market Advocacy

8

• Major Accomplishments
• Own and Operate
• CPED lot acquisition and disposition
• Not compete with market
• Reduce inventory
• Leverage resources and establish partnership
• NRP Match (up to 1.2 million) (2004)
• Result Sold over 400 lots for owner-occupied
  housing since 2001.
• Minneapolis Public Housing Authority (MPHA)
• 5,800 Public Housing Units
• 4,000 Section 8 Vouchers
• 2 Homeownership Program (150 homeowners)

9

• Major Accomplishments
• Finance, Fund, Support and Market Advocacy
• Housing Revenue Bonds, Tax Credits, TIF,
  Affordable Housing Trust Fund
• Results
• 4,843 multi-family units completed plus under
  construction as of 12/31/03.
• Over 1,800 units are lt50 MMI
• Completed three times more units _at_ lt30 MMI than
  in 2001.

10
2003 Snapshot units completed and under
construction
30 to 50 of Median Income
Less than 30 of Median Income
50 to 80 of Median
Low-Moderate Income Homeownership
Affordable Rental
Supportive Housing
PRODUCTION
Lydia House
Many Rivers
Bottineau Commons W.
28
20
385
140
383
PRESERVATION
Ascension Place
Pinecliff
536
78
1,208
0
239
11
2003 Snapshot units completed and under
construction
30 to 50 of Median Income
Less than 30 of Median Income
50 to 80 of Median
Low-Moderate Income Homeownership
Affordable Rental
Supportive Housing
IMPACTED
Heritage Park
Lofts on Arts Ave
St. Annes Place
21
285
454
117
728
NON-IMPACTED
Trinity Gateway
City Apts _at_ Loring Park
Humboldt Greenway
271
101
863
7
170
12
2004 Production Goals based on approved budget
30 to 50 of Median Income
Less than 30 of Median Income
50 to 80 of Median
Low-Moderate Income Homeownership
Affordable Rental
Supportive Housing
PRODUCTION
715
60
675
PRESERVATION
13
2004 Tools (CPED only)
30 to 50 of Median Income
Less than 30 of Median Income
50 to 80 of Median
Low-Moderate Income Homeownership
Affordable Rental
Supportive Housing

• AHTF
• LIHTC

• AHTF
• MPHA Initiative
• HRB
• LIHTC
• TIF

• TIF
• Habitat
• Limited Equity Coop Program
• Perpetual Affordability Program
• Levy

• TIF
• GMHC Home Ownership
• Higher Density Corridor Program
• Levy

PRODUCTION

• ESG
• AHTF

• AHTF
• LIHTC

• Home Improvement Programs
• Mortgage Programs
• Lead Paint
• Northside Partnership

• ESG

• MFPP
• HOW
• Home Improvement Programs
• Lead Paint
• Northside Partnership

PRESERVATION
14
Other Activities

• Minneapolis Public Housing Authority
• Empowerment Zone
• NRP
• Private Market Activities

15
Proposed 2004 Housing Policy Agenda
Overarching Policy Goals

• Clarify, streamline and implement existing city
  housing policies
• Link housing with jobs and transit
• Enhance internal coordination among city housing
  partners MPHA, NRP, EZ, Planning, Zoning, etc.
• Enhance coordination among all housing
  stakeholders and partners

16
Proposed 2004 Housing Policy Agenda
Topical Policy Efforts

• Workforce Housing
• Ownership
• Rental
• Supportive Housing
• Increasing Locational Choice

17
Continuing Policy Considerations

• Senior Housing
• Emergency Shelter
• NRP
• Conclusion