2020 Housing & Redevelopment Authority Economic Development Authority

Year In Review

The Richfield HRA and EDA work to strengthen the community’s health and vitality by guiding investment in the city’s housing and commercial areas and operating programs that promote housing and business stability.

Housing & Redevelopment Authority (1975)

Economic Development Authority (2017)

COVID Response

Rental Assistance

$125,000 to VEAP for Emergency Rental Assistance

• Over 600 Richfield renters served in 2020

• Average assistance = $1,451

• Mailings city-wide, renters

• E-mails and flyers to landlords/owners

COVID Business Loans

• 63 loans issued to 55

businesses

• $247,850 in loans

awarded

• Average loans of $4,506

awarded to each

business

• 56% women-owned;

32% BIPOC-owned

Loans Businesses Type of Business

12 9 Restaurants

10 9 Retail/Production/Sales

7 5 Fitness/Dance/Karate

7 7 Hair/Nail Salons

6 6 Health Care-related

4 4 Consultants/Independent Contractors

4 3 Construction-related contractors

3 3 Service

3 2 Music-related

2 2 Pet Service-related

1 1 Real Estate

1 1 Printing

1 1 Food Sales

1 1 Dry Cleaning

1 1 Child Care

COVID Adjustments

Cancelled

•Realtor workshop

•Home Tour

•Planning virtual realtor workshop for Spring 2021

Virtual

•Meetings

•Energy Squad/Remodeling Advisor (during stay at home orders)

•Kids @ Home Zoom ParentShare

Paused

•Small Business Revolving Loan

•Open to Business Program

Redevelopment

RF64 Townhomes

• 64 for-sale townhomes

• First unit sold in May 2020

• 8 units sold in 2020

• < 100% AMI buyers

• Additional 12 under construction

RF64 (now Rya) Apartments

• Market-rate apartments

• Increased from 218 to 237 units

• HRA property sold in November

• Schafer Richardson added to

development team

• Storm water work begun in 2020

• Above-ground construction in

2021

Emi

• Originally approved 2018

• 3142 units

• 6,000sf commercial 1,200sf

• 20% reserved for households at or below 60% AMI,

including one accessible unit.

• Received final approvals in January

• Spring Demolition

Lynk65

• Enclave Development

• 157 units

• 8,000sf commercial

• 10, 2-bedrooms at 60% AMI + 15% contribution to Housing &

Redevelopment Fund

• HRA approved TIF November ’20

• Zoning applications February ‘21

Lakeside at Lyndale Gardens

• 30 luxury condos

• Opened summer 2020

Rowan (aka Henley II)

• 82 new units

• 22 rehabbed/preserved units

• 2 ADA-accessible units

• 20% reserved for 50% AMI

• Approved September 2020

6501 Penn Ave

• HRA-owned

• Preliminary Development

Agreement with NHH &

Boisclair

• Up to 69 units

• Mix of income 30-80%AMI

• 10 units supportive housing

• COVID-related delays

• 2021 approvals/tax credit

application

Small Business Support

Energy Efficient Business Grants

• 12 Grants made in 2020

for 15 locations (including

4 schools)

• Average grant = $1,575

• Total funding = $18,810

• Program initiated in 2020

• 20% of the costs for energy efficient upgrades

(lighting, refrigeration & HVAC) up to a maximum of

$2,500 per business

Displaced Business Grant

• $3,600 per business

• Must relocate within Richfield

• Funds for lease increase, moving costs, signage and tenant

fixtures.

• Anticipated need in 2021 for Lynk65 development

• Program initiated in 2020

• Provides funding to Richfield

businesses who are forced

to relocate due to an

HRA/EDA/City assisted

development project

Housing

Policy Initiatives

• Affordable Housing Trust Fund approved May 2020

• Inclusionary Housing Policy:

– Henley II: 5 new units and 18 NOAH units preserved and rehabbed at 50% AMI, 2 ADA-accessible units

– Lynk 65 (Enclave): 10 2BR units at 60% AMI + $812,000 HRF Contribution

– Increased RF64 HRF contribution to $688,000

Rental Housing

• 4 loans approved in 2020

• Average Loan amount $21,100

• Total of $82,300 in loans approved

• Improvements included: roof, insulation, siding, windows, doors, appliances, AC units, carpeting,

Apartment Remodeling Program

Apartment Remodeling Program

Apartment Improvement Grant

• $45,000 grant

paired with a

$26,000 loan (over

$120,000 in

improvements)

• 9 units qualified for

grant

• New bathrooms,

flooring, carpeting,

paint, kitchen

sinks/faucets, new

roof

• Rental assistance for households earning < 50% of the AMI

• 341 households served in 2020

Rental Assistance

Section 8 Housing

Choice Voucher Program

Kids @ Home

• Local rent-assistance and support services program for working families with children in Richfield schools

• 24 families served in 2020

• 44 children

• Parent Share moved to Zoom and drive-through events

Rental Assistance

Homeownership

First Time Homebuyer Program

• Program was launched in Fall 2018

• Up to $15,000 towards down payment and closing costs

• Initially only available to Richfield renters, later expanded to include any first time homebuyers who meet the income guidelines

• Base loan: $10,000 – Additional $5,000 for: Richfield renters, those with

children under the age of 18, or a member with a documented disability

• No-interest, forgivable loan

First Time Homebuyer Program

• 6 loans closed in 2020

– 3 were households of color

– 4 had children under the age of 18

– 3 were Richfield renters

• Total of $80,000 in down payment assistance approved in 2020

Richfield Rediscovered in 2020

• 2 lots acquired/available for future

construction

• 1 RFP currently out for bids

• 5 homes were completed at 6812

Emerson Lane

– Approved in 2019

– Completed summer 2020

Richfield Rediscovered, Approved: 6812 Emerson Ave

BEFORE

AFTER

Richfield Rediscovered, Approved: 6812 Emerson Ave

New Home Program

Purpose: supports and offers homeownership opportunities to

moderate/low-income households.

In 2020:

• 6310 Irving – New Construction,

completed

• 7132 Columbus- Rehab, in progress

6310 Irving Avenue

After

BEFORE

7132 Columbus Avenue

Transformation Loan Program

In 2020:

• 5 new Transformation Loans approved (including 1 ADU)

• 4 projects completed (including 1 remaining 2019 project)

• 2 will be completed in 2021

Transformation Loan – 7333 Sheridan Ave

AFTER BEFORE

Transformation Loan – 7340 Clinton Ave

AFTER BEFORE

Transformation Loan – 7133 Logan Ave

AFTER BEFORE

Transformation Loan – 2015 Forest Drive

AFTER BEFORE

Community Development Block Grant Program (CDBG)

City received $190,884 in FFY 2020:

• $80,884 - Deferred Loan Program

• $110,000 – Down Payment Assistance

Program

• Additional funds were reserved for Public

Service allocations (funding supports VEAP,

Senior Community Services, HOMELine and

other service providers in the metro)

CDBG: Deferred Loan

Loans for health/safety or maintenance improvements for low-income households.

In 2020:

– 9 projects completed

– 6 projects started

– 47 households on the waiting list

– $111,124 in repayments recycled back into the Program

Center for Energy & the Environment (CEE)

• Contract with HRA to provide Remodeling Advisor services and administer the Fix-Up Loan to residents

• In 2020:

– 34 remodeling visits

– 4 reduced-interest rate loans

Home Energy Squad Enhanced (CEE)

Home Visits include:

• Installation of free, energy-saving products

• Home energy report, including thermal image testing and blower door testing

• Access to vetted contractors, and ability to schedule on day of visit

2020 Home Energy Squad Intercity Challenge

• Richfield entered into the HES Intercity Challenge with 15 other cities

• 48 Richfield households participated in 2020

Architectural Consultations

• $50 visit, for 2-hr, in-home consult

• Offers design input from licensed

architects for large-scale remodeling

projects

• 9 participating local architects

• 30 visits in 2020 (up from 2019)

• Some homeowners go on to hire the

architects to design their projects

Asset Management

• HRA Loan portfolio management

– Over 315 active loans

– In 2020:

• 15 Subordination requests

• 7 payoffs

• 3 maturations

Cindy, Julie, John, Melissa, Celeste,

Talisa, Lynnette, Myrt, LaTonia, Kate

HRA/EDA Staff

Richfield HRA & EDA 2020 Year-In-Review

QUESTIONS?

Questions?