The Ramsey County Housing and Redevelopment Authority (“County”) is accepting applications for the 2023 Ramsey County Emerging and Diverse Developers Solicitation (“Solicitation”) for eligible developments located within the boundaries of Ramsey County.
Donor Name: Ramsey County
State: Minnesota
County: Ramsey County (MN)
Type of Grant: Grant
Deadline: 10/31/2023
Size of the Grant: $100,000 and $500,000
Grant Duration: 18 months
Details:
The program is available to an individual or entity that has owned and/or developed no more than five housing properties, including mixed-use (housing with commercial space), in the state of Minnesota in the last 10 years as a sole proprietor or under other business entities. An owner-occupied home that the applicant resided in does not count towards the five qualifying projects. An attestation form must be signed which should list any projects that an applicant of the program has owned or been affiliated with. Approved awards will use Housing and Redevelopment Authority (HRA) levy funding. Applicants request funding for a specific housing development at a specific address. Eligible projects can be located within the city of Saint Paul or in suburban Ramsey County, except the city of North Saint Paul.
Goals
Ramsey County aims to address racial barriers in real estate, providing emerging and diverse developers with a fair and equal opportunity to thrive in the early stages of the development process. To achieve this goal, Ramsey County seeks to:
- Create an inclusive space where innovative ideas can flourish.
- Cultivate an environment that encourages collaboration, mentorship and the exploration of fresh perspectives and ideas.
- Celebrate commitment to making a positive impact on the local housing industry.
Funding Information
Funding award will result in a recorded Affordability Declaration with a length of 20 years. Awards for housing developments will be between $100,000 and $500,000. At the sole discretion of the County, funds will be structured as a zero percent interest-deferred loan. Generally, funds must be used within 18 months of award.
Eligible Costs
Eligible soft costs include:
- Architectural fees
- Engineering fees
- Consulting fees
- Environmental assessments
- Legal consulting
- Market analysis
- Administrative costs for loan commitments
- Zoning approvals and land-use application fees
- Permitting Fees.
Eligibility Criteria
The program is available to an individual or entity that has owned and/or developed no more than five housing properties, including mixed-use, in the state of Minnesota in the last 10 years as a sole proprietor or under other business entities. An attestation form must be signed which should list any projects that a participant of the program has owned or been affiliated with.
For more information, visit Ramsey County.
