 |
AGENDA RECOMMENDATION |
Item No: 4.B.
Economic Development Authority
- Meeting Date:
- 09/08/2025
Agenda Item:
Resolutions authorizing the execution of the Grant Agreement and the Memorandum of Understanding to administer the MN Housing Bring It Home program regionally.
Recommendation/Action(s):
Adoption of the attached resolutions.
Summary:
Minnesota Housing seeks to ensure all Minnesotans live and thrive in a stable, safe and accessible home they can afford in a community of their choice. Under Minnesota Statute 462A.2095, a statewide Bring It Home rental assistance program has been established that provides tenant-based and project-based rental assistance and is granting funding to eligible program administrators to provide direct rental assistance through the Bring It Home Rental Assistance Program.
The EDA was awarded Bring It Home funding on July 24, 2025, by Minnesota Housing, to provide needed rental assistance to the region. The grant amount of $3,347,771.00 is made up of $62,575.00 in startup costs to be used in the first twelve months of contracting and $3,285,196.00 in Housing Assistance Payments (HAP) and Administrative Fees intended to be used during the full two-year contract term.
The program will be administered throughout region nine in partnership with Blue Earth County EDA, Faribault County HRA, LeSueur County HRA, the New Ulm HRA, the Pipestone HRA, and the South-Central MN Multi-County HRA. The rental assistance for cost-burdened households earning up to 50% area median income (AMI). Priority for rental assistance shall be given to households with children 18 years of age and under and annual incomes of up to 30% of the area's median income.
The EDA is required to establish a Memorandum of Agreement between agencies to coordinate the administration of the program. This agreement details the roles and responsibilities of the grantee, Mankato Economic Development Authority (grantee) and partner Public Housing Authorities in meeting the specific requirements of the Bring It Home Rental Assistance program as detailed in the grant agreement and Minnesota Statute 462A.05, subdivision 8.
The requested action is to approve by resolution the Executive Director's authorization to execute the grant agreement and all documents required by Minnesota Housing and to enter the Memorandum of Agreement for regional administration of the program.
The EDA was awarded Bring It Home funding on July 24, 2025, by Minnesota Housing, to provide needed rental assistance to the region. The grant amount of $3,347,771.00 is made up of $62,575.00 in startup costs to be used in the first twelve months of contracting and $3,285,196.00 in Housing Assistance Payments (HAP) and Administrative Fees intended to be used during the full two-year contract term.
The program will be administered throughout region nine in partnership with Blue Earth County EDA, Faribault County HRA, LeSueur County HRA, the New Ulm HRA, the Pipestone HRA, and the South-Central MN Multi-County HRA. The rental assistance for cost-burdened households earning up to 50% area median income (AMI). Priority for rental assistance shall be given to households with children 18 years of age and under and annual incomes of up to 30% of the area's median income.
The EDA is required to establish a Memorandum of Agreement between agencies to coordinate the administration of the program. This agreement details the roles and responsibilities of the grantee, Mankato Economic Development Authority (grantee) and partner Public Housing Authorities in meeting the specific requirements of the Bring It Home Rental Assistance program as detailed in the grant agreement and Minnesota Statute 462A.05, subdivision 8.
The requested action is to approve by resolution the Executive Director's authorization to execute the grant agreement and all documents required by Minnesota Housing and to enter the Memorandum of Agreement for regional administration of the program.