 |
AGENDA RECOMMENDATION |
1.
City Council Work Session
- Meeting Date:
- 04/28/2025
Agenda Item:
Review the Draft Comprehensive Housing Needs Analysis for the City of Mankato.
Recommendation/Action(s):
N/A
Summary:
The City of Mankato Economic Development Authority entered into a contract with Maxfield Research on August 23, 2024, to conduct and prepare an update to the 2020 Housing Needs Analysis with findings and recommendations to help elected officials, EDA staff, stakeholders, and community members develop a meaningful sense of the housing market, as well as an understanding of key housing issues, and how they affect the community.
Maxfield Research will present their draft study intended to offer community leaders and stakeholders a basis for formulating community-specific housing priorities, policy alternatives and intervention strategies, including land use and zoning decisions. The study should help guide decisions related to the allocation of public funds and other resources.
They will outline the development of the housing needs analysis, addressing multiple goals including:
The process provides updated background information and demographics from the most current and relevant data sources for information. Furthermore, they intend it to be streamlined to a public-friendly and usable document.
Members of the Maxfield team consulted with community stakeholders familiar with area housing conditions. Involved stakeholders from the local housing development, nonprofit, property management, business, residential, landowner, governmental and municipalities, realtor, and economic development communities. Their draft has been collaboratively informed by stakeholders, as well as primary and secondary data gathering and analysis. It is factually and numerically based, drawing upon performance measures, the latest population assumptions, housing data, etc.
Following a review by the Council, the draft Housing Needs Analysis will be shared with local stakeholders for additional feedback prior to bringing it to the EDA for approval.
Maxfield Research will present their draft study intended to offer community leaders and stakeholders a basis for formulating community-specific housing priorities, policy alternatives and intervention strategies, including land use and zoning decisions. The study should help guide decisions related to the allocation of public funds and other resources.
They will outline the development of the housing needs analysis, addressing multiple goals including:
- Provide updated demographic estimates and projections.
- Provide an update of recent additions to housing stock and rental inventory.
- Examine future housing trends that the area can expect to address over the next 5–10 years.
- Provide an analysis of supply and demand for future housing development.
- Update previous housing findings and recommendations.
The process provides updated background information and demographics from the most current and relevant data sources for information. Furthermore, they intend it to be streamlined to a public-friendly and usable document.
Members of the Maxfield team consulted with community stakeholders familiar with area housing conditions. Involved stakeholders from the local housing development, nonprofit, property management, business, residential, landowner, governmental and municipalities, realtor, and economic development communities. Their draft has been collaboratively informed by stakeholders, as well as primary and secondary data gathering and analysis. It is factually and numerically based, drawing upon performance measures, the latest population assumptions, housing data, etc.
Following a review by the Council, the draft Housing Needs Analysis will be shared with local stakeholders for additional feedback prior to bringing it to the EDA for approval.