Following a public hearing with no public testimony, the board voted 6-0 to sell HRA-owned lots at 8935 Stevens Avenue South and 10117 First Avenue South to Magnolia Homes LLC for $1 each, as part of the Bloomington Affordable Home Ownership Program. Magnolia will build two twin (two-family) homes, with construction expected to start late summer/early fall; total development cost is estimated at just over $1 million for the two-unit buildings, with a funding gap to be covered by Bloomington HRA impact funds, a pending Hennepin County grant, and possibly local affordable housing aid (LAHA).
Watch @ 13:30 ↗Commissioner Huim raised concerns twice during the meeting that the HRA is allocating Local Affordable Housing Aid (LAHA) funds project-by-project without longer-term modeling, comparing it to a city Capital Improvement Plan, and asked staff to consider tracking cumulative LAHA commitments over time. Staff noted the HRA receives roughly $1-1.5 million in LAHA annually and confirmed no formal long-range LAHA spending plan currently exists.
Watch @ 15:35 ↗After a second public hearing drew no testimony, commissioners voted 6-0 to sell lots at 8313 Blaisdell (Blazedale) Avenue South and 1210 West 82nd Street to Outlaw Development LLC for $1 each to build single-family affordable homes under the same program. Homes are capped for sale to households at 80% area median income (about $306,000 sale price); staff estimated total development cost near $600,000 per unit, with gaps to be covered via impact funds, LAHA, and a pending Hennepin County grant. Outlaw plans to start construction this spring.
Watch @ 22:45 ↗The board voted 6-0 to adopt a resolution restructuring two existing HRA loans (originally due in 2033, currently totaling about $470,000-$480,000) into a single loan with annual debt-service payments (~$26,000/year) over 31 years, providing the required $700,000 local match for a $5.2 million substantial rehabilitation of the 47-unit South View Estates property. The renovation, funded largely through Minnesota Housing tax credits and other outside sources, will make the property 100% affordable (up from 80%), add units reserved for people with disabilities and formerly homeless residents, and extend the affordability period by about 40 years (to roughly 2064-2076 depending on terms). Commissioners praised the developer for investing heavily in the property and providing on-site services; a pending Hennepin County grant could further reduce the city's match obligation.
Watch @ 25:54 ↗Staff announced the HRA will submit a privately initiated zoning code amendment to the City Council allowing cell towers on redeveloped residential land (not just existing houses of worship), needed to bring a tower at the former St. Mark's site into compliance as that property moves toward residential redevelopment under the Bloomington Affordable Home Ownership Program. Staff said the amendment process will not delay the project's timeline.
Watch @ 39:46 ↗