The most significant agenda item was the proposal for acquiring the property at 4.15 Clarence Street, a site heavily impacted by the ongoing construction of the Metro Transit Gold Line. The property, currently a single-family home, is now positioned adjacent to a planned bus station, prompting discussions about its conversion to higher-density housing to align with new zoning rules. The acquisition cost, pegged at $125,000, is part of a broader financial package totaling approximately $310,100 to account for relocation and other expenses for the resident. This move is seen as strategic for facilitating transit-oriented development, potentially transforming the site into a multifamily unit accommodating up to ten residences.

Concerns were raised about the funding source for this acquisition, as Metro Transit lacks the resources to finance such purchases. It was clarified that the Housing & Redevelopment Authority would use its Development Capital Fund, which has $1.6 million earmarked for strategic acquisitions. Members questioned the return on investment for the authority, given the additional financial commitment required for future development.

Another crucial issue addressed during the meeting was the allocation of funds to tackle housing stability and homelessness in St. Paul. The authority discussed the $5 million earmarked for 2024 to stabilize existing supportive housing units and address the challenges faced by nonprofit housing providers. These funds are intended to offset increased vacancy rates and operational costs exacerbated by the pandemic.

The meeting also highlighted ongoing efforts in collaboration with Ramsey County, particularly focusing on the “First Home” Down Payment Assistance program. This initiative aims to support first-time and first-generation homebuyers with loans up to $20,000, helping them secure housing in a competitive market. The program has issued 52 loans totaling $3.5 million from January 2023 to June 2024, with a portion directed towards ethnically and racially diverse buyers.

Additionally, the authority discussed the challenges posed by rising eviction rates and the insufficiency of current funding levels to effectively address this issue. As of September, there were 2,366 eviction cases reaching court. This assistance aims to prevent evictions by providing financial aid before eviction filings or resolving cases post-filing. The concentrated eviction filings in certain areas, particularly in Ward 7, were noted, prompting calls for more targeted interventions.