20:09A central topic of the meeting was the recommendation to the City Council to adopt the Consolidated Plan and Annual Action Plan, which outline the strategic allocation of Community Development Block Grant (CDBG) funds over the next five years. These plans aim to address critical housing and community needs, focusing on creating multifamily rental opportunities, fostering single-family home ownership, addressing homelessness, and stimulating economic development. The board set a timeline, including a public hearing on April 14th and a 30-day comment period starting March 28th, for community input. This timeline aligns with the Hennepin County HOME Consortium’s processes, under which the authority operates.

1:29A significant portion of the discussion revolved around the plan’s objectives for serving low- and moderate-income individuals, addressing slum and blight, and responding to urgent needs like natural disasters. While Bloomington does not face severe housing issues such as overcrowding or lack of basic amenities, the board acknowledged ongoing concerns related to housing cost burdens, where residents spend more than 30% of their income on housing. The plans also include homeowner rehabilitation assistance, fair housing initiatives, and public service funding allocations, with a projected total of approximately $450,000 for the year. The board noted that this allocation is slightly conservative compared to previous years, highlighting the potential need for supplementary resources depending on federal funding changes.

20:09The board also explored the economic factors influencing housing, recognizing the potential for integrating economic discussions into housing initiatives, particularly with the expansion of the Port. This integration could strengthen connections between economic development and housing programs.

In new business, the board discussed the Local Housing Trust Fund Grants Program. This program, established in 2021 alongside the metro sales tax, provides a less restrictive application process and allows the authority to apply for up to $225,000 in matching funds. The grant offers dollar-for-dollar matching for the first $150,000 contributed to an affordable housing trust fund and a 50% match for the subsequent $250,000. Concerns were raised about the competitiveness of the grant application process, with the board considering strategies to effectively leverage the Bloomington Affordable Homeownership Fund. The application is due the following week, with decisions expected in the summer, accompanied by a formal grant agreement.

A walk-on item concerning a letter of support for specific legislative proposals was introduced, emphasizing its urgency due to the fast-paced nature of state legislative sessions. The proposed letter supports two bills: one aimed at modifying HRA levy limits to potentially double the max levy, providing future flexibility for the authority, and another enabling tax increment financing districts to support local housing trust funds. The letter aligns with the city’s platform, and the motion passed unanimously.

In closing updates, the board discussed the Habitat for Humanity down payment assistance program available to all first-time homebuyers in Bloomington, underscoring its accessibility despite some purchase price restrictions. Additionally, the board was reassured about the potential impacts of a federal shutdown, with expectations of receiving HUD allocations without disruption. It was noted that any developments related to a federal shutdown would be addressed in the next meeting scheduled for the 8th.