Agenda - Council - 05/13/2014 - Laserfiche WebLink

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Livable Communities Program Facts Investments -in community -vitality Thriving job centers stand on once -polluted land. Workers such as teachers, police officers and health care aides can find affordable housing in the communities where they work. Residents can shop, get on a bus to go to work, and enjoy a local park all within walking distance of their front door. These opportunities are supported by the Livable Communities Act (LCA), adopted by the Minnesota Legislature in 1995 and administered by the Metropolitan Council. portion of the funds in the first hvo accounts are targeted for transit -oriented development (TOD) projects. To compete for LCA funding, communities must negotiate long-term affordable and lifecycle housing goals with the Council and develop a Housing Action Plan to accomplish these goals. In 2013, 94 participating communities are eligible to compete for funding from all three LCA accounts. The LCA's emphasis is on cooperation and incentives to achieve regional and local goals. Local communities are positioned well to make decisions about how their cities and towns will grow and develop, but the LCA recognizes it often takes partnerships and shared resources to move from community plans to tangible results. - Investments reap impressive results From 1996 through August 2013, the Council awarded 787 grants totaling more than $270 million in Livable Communities funds. These grants are expected to leverage billions of dollars in private and other public investments, Following is a' summaty of grants made and their expected results: • 356 pollution cleanup grants (non-TOD) totaling nearly $95 million were made to 45 cities. In total, the projects will leverage more than $5.7 billion in private investment and add $93 million in net tax capacity, clean more than 2,100 acres, and result in more than 40,785 new and retained jobs. • 231 LCDA grants (non-T013) totaling over $117 million were made to development and redevelopment projects that link housing, jobs and services, and maximize efficient infrastructure in 67 cities. The LCDA grants are expected to leverage more than $4 billion in other public and private funds. • 160 LHIA grants to 51 cities, totaling $31.6 million, provided new or rehabilitated affordable housing opportunities. These awards have leveraged nearly $700 million in public and private funds to provide 1,583 rehabilitated affordable rental units, 3,300 new affordable rental units, and more than 1,790 affordable new and rehabilitated ownership units. • 40 Transit -Oriented Development awards totaling $26 million were made with TBRA and LCDA funds to leverage investment near light mil transit, high -frequency bus routes and bus rapid transit corridors. Other benefits of LCA funds are restored natural resources, improved transportation options, new community amenities, and thriving now neighborhoods. Advisory