Housing projects look to snag $2M in funding

The mixed-use housing development on the current Marktplatz Mall land is looking to get some aid from the Minnesota Housing Finance Agency for the workforce housing portion of the project. The workforce housing would consist of a 30 unit apartment building.

NEW ULM — EBMD and Greenlaw Homes are looking to get $1 million each in workforce housing grant funding from the Minnesota Housing Finance Agency (MHFA)

To do so the developers behind the Marktplatz Mall and River Haven housing projects respectively needed City Council to apply on their behalf. The mall project will have 30 units of workforce housing while River Haven will have two four-story buildings with 48 units each, 96 units total.

City Manager Chris Dalton said since the city is the one applying, they would need to pass two resolutions to submit grants for both projects. He said the city would match $500,000 of the mall’s grant, while they would match $300,000 of the River Haven project.

Councilman Dave Christian asked when they would be told if the project received funding or not. Dalton said it depends on how many applicants the grant receives.

“Last time we got it around September or October,” he said. “Two years ago when we applied, they were only expecting about 20 applications, they got 108. With more funding in this time, I think there’s gonna be a lot of applications.”

The housing to be built on this land is looking to get a boost of $1 million through a grant from the Minnesota Housing Finance Agency. Greenlaw Homes is looking to have two four-story buildings with 48 units each of workforce development housing.

Councilman Larry Mack asked if, since both applications are coming from the same city, could the MFHA split the amount of one grant between both projects for $500,000 each. Dalton said it’s possible, but it depends on the number of applications, number of units, and costs.

Mack asked if these developments hinged on receiving these grants. Dalton said both developments would proceed regardless. The grant is just another tool each developer could use to make their processes smoother.

Councilman Eric Warmka made the motion to approve sending in a grant for EBMD to MFHA for potential workforce housing funds, with Mack seconding the motion. Mack then made the motion to do the same for Greenlaw Homes, with Christian seconding the motion.


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