Here are the minutes from our recent meeting with the HRA. This appeared earlier this week in the Northfield News.
On September 14, 2006, the Cannon River Community Land Trust Board (CRCLT) and the Northfield Housing and Redevelopment Authority (HRA) met to discuss the successes and challenges of the Maple Hills Development.
The Maple Hills Addition was developed through a collaborative effort of the Northfield Housing and Redevelopment Authority (HRA), Cannon River Community Land Trust, Three Rivers Community Action, Inc., Habitat for Humanity and the Northfield Community Action Center on approximately 10 acres of land owned by the Northfield Housing and Redevelopment Authority.
The group developed 39 units of housing, including 14 Community Land Trust (CLT) homes, 2 Habitat for Humanity homes, 16 market rate homes, and 7 affordable rental units. Significant local participation of over $700,000 was provided, including substantial funds from local employers, the City of Northfield, and the Northfield HRA.
The City of Northfield and the Northfield HRA provided funds for the land acquisition and infrastructure development costs through the use of tax abatement and HRA resources. It was agreed that the goals of the development have been achieved and the collaboration of all of the groups added financial and other significant resources to the effort.
However, the collaboration of the several groups did add complexity, which was at times difficult for potential homebuyers to navigate. The two Boards also discussed how the actual revenues and expenditures of the development matched against the previous projections.
Preliminary numbers provided to the HRA by staff indicated that there may be more costs than revenues; but it was determined that tax abatement revenue approved for the Maple Hills development had not yet been accounted for and could balance the revenues with the expenditures.
The Maple Hills Addition was developed through a collaborative effort of the Northfield Housing and Redevelopment Authority (HRA), Cannon River Community Land Trust, Three Rivers Community Action, Inc., Habitat for Humanity and the Northfield Community Action Center on approximately 10 acres of land owned by the Northfield Housing and Redevelopment Authority.
Posted by Joel West
Posted by Joel West 