31:29The Heights project is designed to address issues such as a revoked certificate of occupancy for its parking structure and non-compliant balconies, aligning with the city’s general development plans. The approved financial package includes a $450,000 direct assistance program, benefiting six households, five of which are owner-occupied, with affordability restrictions applied. The project is set to commence construction between April and May, with completion expected by 2025.

The TIF district approval required statutory findings to ensure the project’s feasibility, linking TIF as essential to achieve proposed affordability levels. The project boundary aligns with The Heights parcel. While the Planning Commission did not initially approve this alignment, the city council will address it further.

During public comments, a resident of The Heights expressed hopes for the project’s approval, highlighting the difficulties faced by residents, particularly concerning parking. Following this, a resolution to establish The Heights redevelopment project site and approve a redevelopment plan passed unanimously.

3:27Another topic was the discussion of homeownership programs, presented by an Assistant Administrator. The board received an update on ownership initiatives, emphasizing the importance of creating diverse pathways to homeownership and addressing the homeownership gap between BIPOC and white households. Key highlights included the Bloomington Affordable Homeownership Program, partnerships with Homes Within Reach, and the introduction of the “Journey to Homeownership” workshops, offering education in Somali, Spanish, and English. These workshops serve as prerequisites for participation in certain homeownership programs and aim to expand their reach in 2025.

18:21A significant concern during the meeting involved the Housing Choice Voucher (HCV) Homeownership Program. Commissioners raised concerns about potential funding reductions at the national level, emphasizing the precarious nature of housing assistance. The HCV program is particularly vulnerable as it primarily relies on local and state funding, but national decisions could impact its long-term obligations. A discussion ensued on finding flexible solutions, including state-funded voucher programs, to mitigate risks for households dependent on these vouchers.

The meeting also addressed updates to housing program policies, including the Rental Homes Program, Rehabilitation Program, and the Down Payment Assistance Program in collaboration with Habitat for Humanity. The latter aims to serve approximately 25 households over five years with a new sustainable funding source, replacing the previously exhausted American Rescue Plan Act funding.

One commissioner voiced concerns about the disconnect between rising home prices and stagnant wages. While some programs provide financial counseling, there is no current requirement for targeted career coaching.

The board acknowledged the low turnover rate in the homeownership program, with only three to five participants transitioning to homeownership annually. Suggestions to explore additional partnerships and strategies to enhance program success were discussed.

31:29The meeting concluded with administrative updates, including a reminder of a federal funding deadline and a discussion on transitioning to electronic meeting packets to reduce printing unless specifically requested. A motion to enter a closed session for further discussions was passed, and the meeting adjourned shortly thereafter.