06-21-22 HRA Agenda
REGULAR MEETING AGENDA
Housing and Redevelopment Authority meetings are being conducted in a hybrid format with in-
person and remote options for attending, participating, and commenting. The public can make
statements in this meeting during public comment sections, including the public forum beginning
at 6:20 pm.
Remote Attendance/Comment Options: Members of the public may attend this meeting by
watching on cable channel 16, streaming on CCXmedia.org, streaming via Webex, or by calling 1-
415-655-0001 and entering access code 2469 119 0561. Members of the public wishing to
address the Council remotely have two options:
• Via web stream - Stream via Webex and use the ‘raise hand’ feature during public
comment sections.
• Via phone - Call 1-415-655-0001 and enter meeting code 2469 119 0561. Press *3 to raise
your hand during public comment sections.
Pages
1. Call to Order
A. Roll Call
2. Approval of Agenda
3. Consent Agenda
Approval of Consent Agenda - All items listed under this heading are considered to be
routine and will be enacted by one motion. There will be no discussion of these items
unless a Commission Member so requests in which event the item will be removed from
the general order of business and considered in its normal sequence on the agenda.
A. Receive and File Previous Quarter’s Financial Report 2-3
B. Approve Home Ownership Program for Equity (HOPE) Guidelines and
Request for Qualifications
4-14
4. Public Hearing
5. Old Business
6. New Business
7. Adjournment
June 21, 2022 – 6:30 pm
Council Conference Room
Hybrid Meeting
Golden Valley HRA Meeting
June 21, 2022
Agenda Item
3. A. Second Quarter Financial Reports
Prepared By
Sue Virnig, Finance Director
Summary
The following quarterly reports are attached.
Financial Or Budget Considerations
Expenditures are shown on the following financials. The city check register would include any pay-go-
note and expenditures.
The Housing Fund includes salaries/benefits and expenses outlined in the HRA budget and are for the
Housing and Economic Development Manager.
Recommended Action
Motion to receive and file financial reports.
HRA Of Golden Valley
2022 2nd Quarter Financial Report 9000 9190 9300 9350 9400 9250
General Fund Housing Hwy 55/Cornerstone Winnetka North
West TIF (4)Med Lk Rd Wirth #3
Cash Balance @ 04/01/2022 $158,858.54 $2,989.21 $379,370.59 $7,168.18 $691,950.92 $7,951.99
Add:
Tax Levy (July, Dec, & Jan)
Tax Increment (July, Dec & Jan)
Receipts:
Less:
Deposit Return
Interfund Loan
Salaries/Expenses (48,156.81)
Debt Service Payment
Pay Go Note
Expenditures:
Cash Balance @03/10/2022 $158,858.54 ($45,167.60)$379,370.59 $7,168.18 $691,950.92 $7,951.99
9190 - Housing Fund will receive property tax revenue in July, December and January for a total of $214,000.
9300 - Tax Revenue will be received in July and December. Bonds & Note are paid in February and August.
9350 - Pay Go Note is paid in February and August. Tax Revenue is received in July and December.
9400 - Tax Increment is received in July and December. Bond and Pay Go Notes are paid in February and August (3)
Capital Proejcts Special Revenue
Golden Valley HRA Meeting
June 21, 2022
Agenda Item
3. B. Home Ownership Program for Equity (HOPE) Guidelines and Request for Qualifications
Prepared By
Cherie Shoquist, Housing and Economic Development Manager
Myles Campbell, Planner
Marc Nevinski, Physical Development Director
Summary
The City Council approved the Public Land Disposition Ordinance on December 21, 2021. The Housing
and Redevelopment Authority received and filed the City property inventory and recommendations on
March 15, 2022. Four properties were identified as available land for development of affordable
homeownership. The properties the HRA identified to move forward with single family or duplex
development are: 2415 Douglas Drive, 1605 Douglas Drive, 208 Meander Road, and 4707 Circle Down.
Stakeholder Engagement
An information and engagement meeting with potential developers and other stakeholders was held
on May 31, 2022. The contact list was developed through recent awards made by Minnesota Housing,
Metropolitan Council, Hennepin County, Minneapolis Buy Build Rehab Programs, and communications
through Minneapolis Association of Realtors Leadership and DEI Committee, Urban Land Institute Real
Estate Developers Diversity Initiative, and Twin Cities Local Initiative Support Corporation Developers
of Color Capacity Building Initiative. City Communications also posted information about the program
in advance of the meeting. The developer and stakeholder input and expertise is included in the
program policy and guidelines as well as the timeline for development. The following developers and
stakeholders were consulted at the meeting and/or in individual conversations:
•Amani Construction
•BuildWealth MN
•Golden Valley Affordable Housing Coalition
•Greater Metropolitan Housing Corporation
•Hennepin County
•Magnolia Homes
•Mazone Real Estate Group
•Minnesota Housing
•Metropolitan Council
HRA Regular Meeting Executive Summary
City of Golden Valley
June 21, 2022
2
• MSR Design
• Mobilize Design & Architecture
• Noor Companies
• Project for Pride in Living
• PRG, Inc.
• Riverfront Development Partners
• Twin Cities Habitat for Humanity
• Twin Cities Local Initiative Support Corporation
• Urban Homeworks
• Urban Land Institute MN
• West Hennepin Community Land Trust, Homes Within Reach
This is in addition to the extensive resident and community engagement process through the
Capacity Building Initiative funded by Minnesota Housing in 2019 that led to the approval of the
Public Land Disposition Policy.
Guidelines and Request For Qualifications (RFQ)
Purpose: Provide affordable, owner-occupied, single-family housing in Golden Valley. Golden Valley
will provide a land write down to achieve the following goals: reduce racial disparity in
homeownership, build wealth, provide long term affordability, and support Disadvantaged Business
Enterprises (owned, operated, employed, contracted, subcontracted).
Priority: Proposals from organizations that have demonstrated success in building relationships of trust with
Black, Indigenous and people of color and in serving first generation homebuyers. The City of Golden Valley
strongly supports the development of affordable housing in our city, throughout the Metro Area, and across the
State. Given existing racial disparities in housing, providing both affordable rental and homeownership
opportunity is not only vital to providing all individuals and families with housing choice, but also with access to
stable housing that impacts their health, education, employment, and ability to build wealth. The suburban
metro will benefit from the economic impact of providing the necessary supply of affordable housing in each of
our communities and by providing affordable housing for all Black, Indigenous, people of color and lower income
members of our communities.
The Guidelines and RFQ set selection standards including project feasibility, organizational capacity,
community need, and other standards common to affordable homeownership development.
Timeline
To achieve a level of affordability at 115% of Area Median Income, with a priority for affordability at
60%- 80% of Area Median Income, leveraged resources from Hennepin County, Metropolitan Council
and/or Minnesota Housing will be needed. The current timeline prepares for construction beginning in
HRA Regular Meeting Executive Summary
City of Golden Valley
June 21, 2022
3
the spring of 2023, funding contingent. Responses to the RFQ will be reviewed at the August 10, 2022
HRA Work Session and qualified developers will likely be approved at an August 16, 2022 HRA Special
Meeting. Staff will work with qualified developers to complete long term affordability restrictions,
equity building methods, design and construction plans, appraisals, documentation of financing, and an
offer to purchase before the development agreements and land sales are approved in the spring of 2023.
Financial Or Budget Considerations
NA
Recommended Action
Motion to Approve Home Ownership Program for Equity (HOPE) Program Guidelines and Request for
Qualifications
Supporting Documents
• Home Ownership Program for Equity Guidelines (2 pages)
• Home Ownership Program for Equity Request for Qualifications (7 pages)
Home Ownership Program for Equity
Guidelines
The Home Ownership Program for Equity (HOPE) will make public land available for the
development of homes for affordable and equitable homeownership opportunity in the
City of Golden Valley.
Purpose: Provide affordable, owner-occupied, single family housing in Golden Valley.
The City of Golden Valley, through its Public Land Disposition Policy, has prioritized the
sale of city owned vacant property for the purpose of developing opportunities for
affordable homeownership. The City will provide a land write down as an incentive for
development of homes affordable at less than 115% of Area Median Income, with a
priority for affordability at 80% or 60% of Area Median Income.
Priority: Proposals from organizations that have demonstrated success in building
relationships of trust with Black, Indigenous and people of color and in serving first
generation homebuyers. The City of Golden Valley strongly supports the development
of affordable housing in our city, throughout the Metro Area, and across the State.
Given existing racial disparities in housing, providing both affordable rental and
homeownership opportunity is not only vital to providing all individuals and families
with housing choice, but also with access to stable housing that impacts their health,
education, employment, and ability to build wealth. The suburban metro will benefit
from the economic impact of providing the necessary supply of affordable housing in
each of our communities and by providing affordable housing for all Black, Indigenous,
people of color and lower income members of our communities.
Golden Valley will provide a land write down to achieve the following goals: reduce
racial disparity in homeownership, build wealth, provide long term affordability, and
support Disadvantaged Business Enterprises (owned, operated, employed, contracted,
subcontracted).
Additional Funding Priorities:
• Provide long-term housing affordability and housing affordable to the local
workforce;
• Reduce racial disparities in homeownership, build wealth and equity;
• Address the housing needs of underserved populations;
• Provide housing proximate to jobs, transportation, schools and services; and
• Leverage for other financial and in-kind investments.
All funded projects must result in homes that are:
• Residential in nature;
• Owner-occupied;
• Occupied by eligible homebuyers or homeowners (see program income limits);
and
• Affordable to the local workforce (60%-80% of Area Median Income) or to
homeowners with incomes at or below 115% of Area Median Income.
Selection Standards: To be considered for funding the applicant must satisfy the
following threshold requirements:
A. Project Feasibility. This includes the extent to which reasonable development costs
are proposed, how proposed development costs and subsidies compare to historical
costs of similar projects, and the extent to which the proposal is economically viable.
B. Organizational Capacity. This includes the applicant’s purpose and mission, related
housing experience, demonstrated successful completion of similar projects, progress
on current awards, organizational financial capacity and other organizational due
diligence factors.
C. Community Need. This includes the extent to which the proposed project addresses
the well-defined community need for affordable home ownership opportunity in Golden
Valley based on local demographic, workforce, market and economic factors.
Additional Standards:
• High quality construction
• Code compliance
• Energy efficiency
o Minnesota Overlay of Green Communities Criteria
o Department of Energy Zero Energy Ready Homes Program
• Universal design
• Visitability and/or accessibility
• Fair housing and affirmative marketing
• Reporting and compliance
Income Limits: For owner-occupied housing, the income limit includes principal,
interest, property taxes and home insurance.
• 50% AMI $ 59,100
• 60% AMI $ 71,000
• 80% AMI $ 94,600
• 100% AMI $118,200
• 115% AMI $136,000
Home Ownership Program for Equity
Request for Qualifications 2022
Purpose: Provide affordable, owner-occupied, single family housing in Golden Valley.
The City of Golden Valley plans to make up to 15 publicly owned properties available primarily
for affordable single family or duplex development in the next few years. One property is
suitable for a townhome development.
Priority: Proposals from organizations that have demonstrated success in building
relationships of trust with Black, Indigenous and people of color and in serving first generation
homebuyers. The City of Golden Valley strongly supports the development of affordable
housing in our city, throughout the Metro Area, and across the State. Given existing racial
disparities in housing, providing both affordable rental and homeownership opportunity is not
only vital to providing all individuals and families with housing choice, but also with access to
stable housing that impacts their health, education, employment, and ability to build wealth.
The suburban metro will benefit from the economic impact of providing the necessary supply of
affordable housing in each of our communities and by providing affordable housing for all Black,
Indigenous, people of color and lower income members of our communities.
Golden Valley will provide a land write down to achieve the following goals: reduce racial
disparity in homeownership, build wealth, provide long term affordability, and support
Disadvantaged Business Enterprises (owned, operated, employed, contracted, subcontracted).
Properties included in this RFQ:
2415 Douglas Drive
1605 Douglas Drive
208 Meander Road
4707 Circle Down
Additional information is available starting on page 50 of the March HRA Agenda packet to
review the Public Land Disposition Executive Summary; maps of properties with development
potential start at page 57. Here is the link:
https://www.goldenvalleymn.gov/DocumentCenter/View/1408/03-15-22-HRA-Agenda.
Please submit applications by 5:00 pm on Friday, July 22, 2022 electronically by email to Cherie
Shoquist, Housing and Economic Development Manager, at
cherie.shoquist@goldenvalleymn.gov.
The RFQ Information Session will be Thursday June 23, 2022 from 10:00 am - 11:30 am at the
Golden Valley City Hall Council Conference Room, Second Floor, 7800 Golden Valley Road and
by Microsoft Teams:
https://teams.microsoft.com/dl/launcher/launcher.html?url=%2F_%23%2Fl%2Fmeetup-
join%2F19%3Ameeting_OWY2ZGU3NmMtNjgyYi00NjJlLTk3MDktNGM0MDgzMmY0YmU1%40thread.v2%
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c8c78be9e6aa&directDl=true&msLaunch=true&enableMobilePage=false&suppressPrompt=true
HOPE Properties for Development 2023-2024
2415 Douglas Drive
• Square feet: 22,656
• Zoned R-2, Moderate Density Residential
• Supports single-family, duplex, rowhouse, residential
facility
• Subdividable for 2 single family homes
• May be suitable for 2-4 town homes or row homes (24 foot
width requirement for row homes)
• City sidewalk may require ROW dedication/easement
1605 Douglas Drive
• Square feet: 14,262
• Zoned R-1, Single-Family Residential
• Supports single-family, residential facility
• Storm sewer under sidewalk
• Tax parcel combination, but city infrastructure on east lot
limits ability to develop two homes on underlying platted
parcels
205 Meander Road
• Square feet: 13,443
• Zoned I-P, Parks & Open Space
• Requires rezoning to likely R-1
• SOO/CP Railway directly to the east
4707 Circle Down
• Square feet: 23,853
• Requires Platting and rezoning prior to development
• Topography and a storm sewer pipe on the SW side of the
parcel limits potential redevelopment to a single-family
home
• Hwy 100 to the SW
HOPE Timeline
DATE ENTITY ACTION
April 13 MHFA Super RFP Release
May 10 HRA Work Session Intro to Program Guidelines and RFQ Process
May 31 Staff/Developer Pre RFQ Meeting
June 21 HRA Meeting Approve Program Guidelines and RFQ
June 22 Staff Release RFQ
.June 23 Staff/Developers RFQ Information Session
July 14 MHFA Super RFP Due
July 22 Developers RFQ Due
August 10 HRA Work Session Review Recommended Qualified Developers
August 16 HRA Special Meeting Approve Qualified Developers for Properties
September 1 MHFA Pending Leverage Commitment Due
September Met Council LHIA Affordable Homeownership Pilot
December MHFA Awards Announced
January Met Council Awards Announced
January/February Hennepin County HOME or Homeownership Funds RFP/Awards
February/April MHFA/Met Council/HC Contracts Executed
February/May HRA Work Session Review Development Agreements and Plans
March/June HRA/CC Approve Development Agreements and Plans
Approve Land Sale
HOPE Request for Qualifications Outline
1. Project Summary
a. # Homeownership units
b. # Square Feet
c. # Bedrooms
d. # Bathrooms
e. Garage Type
f. Amenities
g. Construction timeline
h. Sales Price Restrictions
i. Household Income/ Percent of Area Median Income
j. Addresses of Properties
2. Applicant Contact Information
a. Name
b. Title
c. Organization
d. Address
e. Email
f. Phone Number
3. Development Experience
a. Number of years in business
b. Estimated annual production of residential units per year
c. Examples of similar projects completed
4. Households Served
a. Who has your organization sold to in the last 3 years? Provide the number of
households served by race and ethnicity. Additionally, provide the number of
households served that experience disparities in homeownership rates, for
example:
i. # Black/African American
ii. # White, Non-Hispanic
iii. # Asian/ Pacific Islander
iv. # Native American
v. # Latinx
vi. # Multiple Races
vii. # No Data/Refused
viii. Total Served
ix. # Household single headed with Children
x. # Household with a disability
xi. #Household with income at or below 60% of Area Median Income
5. Marketing, Outreach and Engagement
The City of Golden Valley is committed to expanding housing opportunities for all
people and households that experience disparities in homeownership rates.
a. Describe your organization’s marketing and outreach strategies planned to
reach households that experience disparities in homeownership rates, including
households of color or indigenous, disabled, and/or low income populations. Be
specific and include names of outreach methods (radio stations, newspapers,
meetings, etc.) and why these strategies are most effective.
b. Who has your organization reached in your marketing and outreach strategies in
the last 3 years? Provide the estimated number of households served in the
following categories.
i. # Black/African American
ii. # White, Non-Hispanic
iii. # Asian/ Pacific Islander
iv. # Native American
v. # Latinx
vi. # Multiple Races
vii. # No Data/Refused
viii. Total Served
ix. # Household single headed with Children
x. # Household with a disability
xi. #Household with income at or below 60% of Area Median Income
6. Publicly Owned Land Available for Development
a. Is there a minimum number of properties you need to be awarded to move
forward?
b. How many?
c. List property addresses in order of preference.
7. Required Documentation for the Request For Qualifications
a. Example Development Pro Forma
i. Development value gap and identified resources to fill the value gap.
Value Gap includes deferred loans or grants to cover the difference
between the total development cost and appraised value of a unit.
ii. Affordability gap and identified resources to fill the affordability gap.
Affordability Gap includes deferred loans or grants to homebuyers to
cover the difference between the purchase price of a home and the first
mortgage for which a homebuyer qualifies.
b. Example plans and design renderings
c. Proposed methods to insure long term affordability and build wealth and equity
8. Required Documentations Prior to Land Sale Approvals
a. Development Pro Forma
b. Construction plans – floor plans/elevations/proposed lot layout
c. BPO or Appraisal - Broker's price opinion that supports the sales price/completed
project’s value
d. Documentation of financing:
i. Pre-approval letter from lender on letterhead, dated within 90 days
ii. Bank statements within 30 days
iii. Pending listing with amount of net sale proceeds expected
e. Offer to Purchase
A Minnesota Housing 2022 Single Family Request for Proposals may serve as a response
to this RFQ in addition to the response to 1. Project Summary and 6. Publicly Owned
Land Available for Development.
HOPE Qualified Developer Selection Matrix
STANDARD MET YES NO NOTES
Project Summary
Applicant Contact
Information
Development Experience
Households Served
Marketing, Outreach and
Engagement
Publicly Owned Land for
Development Preference
Required Documentation