Ramsey County Emerging and Diverse Developers

The Ramsey County Housing and Redevelopment Authority is currently accepting applications for the 2024 Ramsey County Emerging and Diverse Developers Solicitation. This program is designed for eligible developments located within the boundaries of Ramsey County, Minnesota. The initiative aims to support emerging and diverse developers interested in affordable housing development by providing them with technical assistance, educational training, and networking opportunities. The program is a collaborative effort with NEOO Partners and Baker Tilly, focusing on fostering growth and learning among participants to shape the future of housing development in the region. The primary purpose of the program is to address racial barriers in real estate and to create an inclusive environment where innovative ideas can thrive. The objectives include cultivating collaboration and mentorship among developers, encouraging the exploration of new perspectives, and celebrating the commitment to positively impact the local housing industry. By investing in emerging and diverse developers, Ramsey County aims to empower these individuals and entities to succeed in the early stages of the development process. Funding through this program is directed towards specific types of housing projects. Eligible projects include permanent general occupancy rental housing for low to moderate-income renters with a minimum of two units, new construction of owner-occupied housing for low-to-moderate income homeownership, and pre-development activities that result in soft costs for professional services. Eligible soft costs encompass a range of expenses, including architectural and engineering fees, environmental assessments, legal consulting, and permitting fees. To be eligible for the program, individuals or entities must be interested in affordable housing development and should not have owned or developed more than 25 housing units or 15,000 square feet of commercial space in Minnesota within the last ten years. Participants are required to sign an attestation form listing any projects they have owned or been affiliated with. This eligibility criterion is designed to ensure that the program supports those who are truly emerging in the field. The application process requires potential participants to submit their applications by the deadline of October 31, 2024. Specific submission requirements and application questions are outlined in the program details, which can be accessed through the Ramsey County website. The evaluation criteria for applications will focus on the potential impact of the proposed projects, the applicant's experience, and the alignment of the project with the program's goals. While the grant size and duration are not specified, the program does not require a matching contribution from applicants. This aspect makes it more accessible for emerging developers who may have limited resources. The program is anticipated to recur, providing ongoing opportunities for developers in Ramsey County to engage with the resources and support offered. For further information, interested parties can visit the Ramsey County website or contact the program office directly at the provided phone number. This initiative represents a significant opportunity for emerging and diverse developers to gain the necessary support and resources to succeed in affordable housing development within Ramsey County.