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HomeMy WebLinkAbout11-25-08City of Lakeville Economic Development Commission Regular Meeting .Agenda Tuesday, November 25, 2008, 4:~~ p.111. City Hafl,-20195 Holyoke Avenue Lakeville, MN 1. 2. 3. 4. 5. 6. 7. Call meeting to order Approve October 28,.2008 meeting minutes. Discussion of the status of the Economic Impact Analysis Model Review of 2009 Community Development Block Grant Application Review of final Broadband Feasibility Study Request. for Proposals Director's Report. Adjourn Attachments: October Building Permit Report October County CDA Foreclosure Update "Lights out for solar Wi-Fi plan in St. Louis Park", StarTribune.com, 11/12/2008 "Mayor's Response to the Appeal of the TDS Lawsuit", Press Release, City of Monticello, 11 /11 /2008 "Minnesota Unemployment at 6 Percent; 7,500 jobs Cut in October", News Release, Minnesota Department of Employment. and Economic Development, 11 /20/2008 o. City of Lakeville Economic Development Commission Meeting Minutes October 28,.2008 Marion Conference Room, City Hall Members Present: Comms. Matasosky, Smith, Stanfield, Schubert, Erickson, Emond, Brantly, Ex-officio. member Mayor Holly Dahl, Ex-officio member Chamber of Commerce Executive Director Todd Bornhauser. Members Absent: Vlasak; Tushie, Pogatchnik. .Others Present: David Olson, Community & Economic Development Director; Adam Kienberger, Economic Development Specialist, Daryl Morey, Planning Director; Allyn Kuennen, Associate Planner. 1. Call Meeting to Order .Chair Matasosky called the meeting to order at 5:00 p.m. in the Marion Conference Room of City Hall, 20195 Holyoke Avenue, Lakeville, Minnesota. 2. Approve September 23, 2008 Meeting Minutes Motion 08.10 Comms. Emond/Schubert moved to .approve the minutes of the September 23, 2008 meeting as presented. Motion carried unanimously. 3. Presentation on Comprehensive Plan Comments David Olson. introduced Associate Planner Allyn Kuennen and Planning Director Daryl Morey. Mr. Kuennen reviewed the Comprehensive Planning process to date: The State of Minnesota Land Planning Act requires all jurisdictions within the seven county metropolitan area to update their comprehensive plans every ten years. Staff initiated an update to Lakeville's 1998 Comprehensive Plan in February of 2007. Over the -past 21 months staff has held over 19 neighborhood meetings, two open houses, four City Council work sessions, five .Planning Commission work .sessions, one Economic Development Commission meeting and one Planning .Commission public hearing. In addition, the City has gained input .from interested citizens and property owners through surveys completed during the neighborhood meetings and Economic Developmenf Commission Meeting Minutes October 28, 2008 open-.houses as well as comments submitted through the City's web site and letters. submitted. directly to the Planning Department. Comm.. Smith asked about the proposed .land use change to the Queen Anne manufactured home park. Mr. Kuennen responded that part of the manufactured home park will be shifting from an Office Park land use ..designation to Low/Medium Density Residential to follow the north/south street boundary cgnnection. Mr. Morey clarified that. the City is not redeveloping the .manufactured home community and that any future changes to the property are up to the private property owner. Comm. Smith noted that. the Metropolitan Interfaith Council on Affordable Housing (MICAH) had submitted comments on Lakeville's Cgmprehensive Plan and inquired if the group had any sort of local regulatory authority. Mr. Kuennen responded that the comments -from MICAH are treated the same as any other resident or special interest group. Comma Emond asked if MICAH is-.focused on affordable rental or owner-occupied housing. Mr. Kuennen responded they look at both and typically focus on high-density housing. He added that the high-density land uses can also be utilized for senior housing. Chair Matasosky indicated that the City can't control land value, but can -control densities to help meet the Metropolitan Council's affordable housing goals. Comm. Stanfield questioned the land use on southwest corner of 202"d Street and Holyoke Avenue. Mr. Kuennen noted that the property should be designated as Office/Residential Transition and that there is a mapping error on the handouts. Mr. Kuennen and Mr. Morey reviewed the six-month review comments received on the 2008 Comprehensive Plan. Comm. Stanfield asked what "permanent rural" means on the Staged MUSA Expansion Areas map. Mr. Morey responded that these areas will be the last areas of the City to develop. 2 Economic Development Commission Meeting Minutes October 28, 2008 Comm. Emond asked if utility services for the "donut hole" area of Lakeville will be coming from Farmington. Mr. Olson responded they are currently in the ground in conjunction vvith the .construction of the new Farmington High School Mr. Kuennen reviewed comments on the Gerk property and the recent annexation of the Hat Trick Investments property. Mr. Kuennen outlined the timing for the completion of the Comprehensive Plan: The Plan, will go to the Planning Commission on November 6, the City Council in December, and finally to the Metropolitan Council fora 60-day review.. Upon approval. of the Comprehensive Plan, the City will .then undertake a zoning code update in 2009. Mr. Olson added that during the process the City of Lakeville also reviewed Dakota County's Comprehensive Plan and verified consistency in roadway classifications. The EDC discussed cost sharing .practices for road improvements. It vvas noted that roads with greater than 35,000 rips per day equate to a regional impact and should be funded by the County. Mayor Dahl added that the City. has been having conversations with the County on thisissue. 4. Overview of Manufacturing Week Activities Mr. Olson gave an update on the 2008 Manufacturers Luncheon. Every year,. the City of Lakeville hosts a Manufacturers Luncheon during Minnesota Manufacturers Week to recognize the contributions manufacturers make to our economy including jobs; #ax base, and community involvement. This was the sixteenth annual Manufacturers Luncheon in Lakeville and it was held at the Holiday Inn & Suites on October 22, 2008. This year there were 127 people in attendance at the event, up from 99 people in 2007. The EDC commented on the good turnout and success of this event. 5. Director's Report Mr. Olson reviewed the Director's Report. 3 Econgmie Development Commission Meeting Minutes October 28, 2008 6. Adjourn The meeting was adjourned at 6:15 p.m. Respectfully submitted by: Attested to: Adam Kienberger, R. T, Brantly, Secretary Economic Development Specialist 4 item No. 3 -City of Lakeville Community and- Economic Development Memorandum To: Economic Development Commission From:. David L. Olson, Community and Economic Development Director Copy: .Steve Mielke, City Administrator Dennis Feller, Finance Director Adam Kienberger, Economic Development Specialist Date: November 21, 2008 Subject: Discussion of Economic Impact Analysis. Model Goals The impetus for the study was a goal of the 2005-07 Strategic Plan for Economic Development to "Complete a study to determine the minimum market value of residential housing that generates sufficient City property taxes to pay for the City services required by that housing unit." The goal was later revised to be the development of a fiscal impact tool that. would enable the City to estimate both the costs and the benefits that are likely to result from the development of residential and commercial/industrial projects. The primary focus was to be property taxes, on-going user fees, and infrastructure .development. Process/Status The City retained Springsted Inc., the City's financial consultant, to assist in the development of this fiscal impact tool. The result was a draft model that attempted to calculate both .revenues and expenditures based on the number of residential units and commercial /industrial employee numbers. The model has not been able to be developed to the point where-staff is comfortable utilizing the outcomes in a public policy discussion on land -use. Staff has most recently been attempting to develop a much more simplified model that will analyze fiscal impact of examples of different types of land uses in the City rather than try to analyze the City as a whole. Findincts Preliminary findings or conclusions that City staff has reached as a result of these efforts: ~ Minnesota property tax structure provides no correlation between . taxes paid and the provision of City services. D State Aids for property tax relief provide little substantive correlation between the cost of services and taxes paid on the property. ~ Property tax laws are approved by the State Legislature and are therefore subject to change. MN has experienced 5 major property tax structural changes in the last 40-50 years with minor changes occurring on almost an annual basis. It becomesspeculative that the long range land use planning based on today's assumptions of future land uses will yield the desired financial outcomes.- O It is difficult to model land uses that don't exist yet in the community (i.e. mixed use developments or assisted living projects.) O Cost allocation models cannot model uses that pay for more of their .own services (i.e. developments that construct private streets.) ~ There may need to be balance between property class groups that are not directly related to financial factors. (i.e. in order to attract manufacturing uses, cities may need to support the development of more work force housing.) ~ There are future changes that cannot be incorporated into a model such as: a) transportation system changes, b) the sequencing of different types of development in a City over a period of time, c) economic conditions can have a significant impact on the final land use outcome, and d) socio-demographic changes. Conclusion It is very difficult for cities to attempt to use the results of fiscal impact analysis. to practice °fiscal zoning." While fiscal impact analysis is an important consideration in planning and land use decisions, it is only one of several issues to be considered. Finance Director Dennis Feller will be in attendance at the meeting. He along with City Administrator Steve Mielke and I would Like to discuss to what extent we continue to pursue this goal r No. -.City of Lakeville ' ~ Community and Economic Development Memorandum To: Economic Development Commission From: Adam Kienberger, Economic Development Specialist /~~ .Copy: Steve Mielke, City Administrator '~° David L. Olson, Community and Economic Development Director .Date: November 21, 2008 Subject:- 2009 Community Development Block Grant (CDBG) Application The City is required to submit its 2009 Community Development Block Grant (CDBG) application to the Dakota County CDA by December 31, 2008.. It is anticipated that ..the City will. receive $129,490 in 2009 which. is increase over what was received in 2008 due to a change in the CDA's funding allocation formula. The CDA is continuing its requirement that 50% of a City's activities to be funded with CDBG funds involve activities that benefit Low-Moderate Income (LMI) households. One of the more commonly identified LMI activities in other cities in Dakota County is the Home Rehabilitation Loan program administered by the Dakota County CDA. .Preservation of the existing residential neighborhoods adjacent to the Downtown has been identified as a goal of the City Council. approved Downtown Development Guide. Due to the increase in home foreclosures and economic hardships, this program will likely remain active and potentially see an increase in demand. Over the past four years from 2004-2007, Lakeville has done 23 housing rehab loans, 13 of those. in 2007. Through the end of October, .there is approximately an $80,000 balance available in the current program budget. Staff would recommend a funding level increase for this program of $64,745 for 2009.. The other activity funded with the City's 2008 allocation is the Downtown Code Improvement Program. This activity currently has a balance of $169,000 from funding in .previous years. It is recommended that additional funding in the amount of $64,745 be provided in 2009. This will provide sufficient funding to complete at least three Downtown Code Improvement grants in 2009 and 2010.. We are currently in discussions with a Downtown properly owner to do one of these grants in 2009. The City of Lakeville recently received a letter from DARTS inquiring about a .potential partnership with the City to utilize CDBG dollars for funding a yard .maintenance and cleanup program for income qualified seniors. -The City of .Burnsville currently works with DARTS on this program and allocates approximately $3,000 per year of CDBG funding. The City of Lakeville has traditionally utilized CDBG funds for. City projects and has had limited involvement in allocating CDBG funds to nonprofit entities.. Staff is seeking a recommendation from the EDC. whether it should pursue this partnership and utilize 2009 CDBG dollars for this type of a program. 2009 Funding Recommendations Staff recommends the following activities to be funded with the City's. 2009 CDBG allocation. Downtown Code Improvement Program $64,745 -Home Rehab Loan Program $64,745 Request Action Staff requests the EDC discuss these recommendations and forward its recommendations to the City Council. 1645 Marthaler Lane West St. Paul, Minnesota 55118 Phone: 651.455.1560 . ~ ~ Fax: 651.234.2280 Toll Free: 866.514.9290 your connection Internet: darts1.org to possibilities caregiverMN.org October 29, 2008 David Olson Director of Comm/Eton Dev. City of Lakeville .20195 Holyoke Avenue Lakeville, MN 55044 Dear David: Have you noticed some older neighbors in your community who aren't keeping up their yard the way whey used to? Everyone wants a home they can. be proud of, but the combination of diminishing physical .abilities. and tight financial constraints may mean .some homeowners can no longer maintain their yards to meet community expectations. ..Three- years ago, Burnsville began experiencing this situation and they talked with DARTS because of our expertise in aging issues. Burnsville opted to use some of their CDBG dollars to partner with DARTS toward a yard maintenance solution. DARTS has been providing outdoor chore help to ..older ,residents .for over ten years. By partnering with the City of Burnsville, we are everaging DARTS' trusted reputation to address -the City of Burnsville's concerns. for their senior residents. Julie Dorshak, Burnsville City Administrator,. says of the collaboration, "DARTS provides a valuable tool to .our residents. Their program gives our residents the ability to -stay in their homes as well as help maintain our neighborhoods. In the last year,. DARTS has assisted 27 seniors in Burnsville for a very low .cost. I hope that you will consider allocating a portion of your CDBG funding toward this valuable service." Please give some thought to this. partnership opportunity between DARTS and Lakeville, now or in the future. I'll gladly answer any questions you have as to how our outdoor chore service could be implemented. on behalf of older residents in your community. I will phone you in the next week or two to ascertain your interest and answer questions. In the meantime, I have enclosed a flyer Mark Hasese~ describing our outdoor chore service. Llook forward to speaking with you soon. ~ICe President of Community Sewices . ~ - _ - Beth Wiggins SmCerely, vice President of Transit Rob McDonough "~(/~ Board of Directors ~ 1 r-~( J ~ Gary DeCramer, Chair G"'^ `"~ Marie Emeott, Vice-Chair \•.~ Marty Kennedy, Secretary Barb Blumer, 7reawrer lim Burmeister Colleen Fritsch Doug Differt Charlotte Johnson Director of Volunteer Resources sandy Klan - Virginia Lanegran Adeel Lad . - Lisa Lavin - Lance Lemieux _ ~ - Katherine Lilly Enclosure Scntt Ngrthard Karl Oestreich Bill Owens lack Rolig_ - ~ Aida Schaefer . ~ Directors Emeritus Duncan Baird _ Millie Gignac - Julie 7itcomb x S ~, " 2 " a ~, ~ ~i 'a+~.' t i sue' ~ ~ ` s ~ . your connection to possibilities Outdoor Chore Service Heavy Chores & Outdoor Yardwork DARTS' Outdoor Chore Service is very affordable.: The cost is based on your income and the type of work you request. Raking leaves Trimming small trees Snow shoveling and shrubs Mowing lawns Touch-up painting Weeding gardens Exterior window washing Cleaning. gutters* Removing ground level storm windows or screens We can also help with: Cleaning garages or basements Packing boxes Planting flower boxes Patio furniture * DARTS' Outdoor Chore Service workers will perform work from a stepladder (6-footladder or smaller; no extension ladders). They will nonuse power equipment while on a ladder. Chore workers are not available to apply chemical treatment to lawns or gardens. DARTS' Outdoor Chore Service is funded in part by the Metropolitan Area Agency on Aging as part of the Older Americans Act we provide solutions DARTS 1645 Marthaler Lane, West St. Paul, MN 55118 651-455-1560 (Main) 651-455-1339 (Transportation) darts1.org • caregiverMN.org 6.G8 we help, we .care, ~~~m No. 5 -City of Lakeville ` ~ Community and Economic Development Memorandum To: Economic Development Commission From: Adam Kienberger, Economic Development Specialist Copy: Steve Mielke, City Administrator David L. Olson, Community and Economic Development Director Date: November 21, 2008 Subject:. Lakeville Broadband Feasibility Study Update On Monday, November 17, 2008 the. City of Lakeville sent out a Request for Proposals (RFP) for a Broadband Feasibility Study. Development of the RFP has been underway since the Business Telecommunications Technology Task Force (BTTTF) completed its work in December of 2007. The City put this issue on hold for a number of months this summer while litigation was taking place in another Minnesota city on a similar broadband issue. A summary of the RFP is as follows: The City of Lakeville, Minnesota is seeking proposals to analyze its current leased City fiber network operations and determine if it is financially feasible to build and maintain its own fiber network for governmental use. In addition, a feasibility study is also being pursued to determine whether it is feasible to construct a fiber to the premise (FTTP) .project for the entire community including homes, businesses, and government facilities through an expansion of a government network or construction of an independent system. The RFP was sent to 11 different firms across the country and a timeline for the process is laid out below: RFP Issue date -November 17, 2008 Pre-proposal conference -December 10, 2008 (Lakeville City Hall) Proposals due - 4:30 pm, January 5, 2009 Interview consultant finalists -January 15 &16, 2009 (times to be determined) City Council approval selecting consultant -February 2, 2009 Award contract and begin work -February, 2009 The RFP is the next step in the process established by the work done by the BTTTF. The City Council authorized the creation of the BTTfF to study the current broadband environment and different broadband telecommunications options for the business community in Lakeville. Two core recommendations came-out of the BTTTF's report: 1. That Lakeville view its business community as a whole. This includes home- based businesses and work-at-home employee connections as well as those contained in the Airlake Industrial Park or other normal business communities - and concentrations. 2. The City should actively explore, conduct feasibility, negotiate and pursue the use of current public/private assets for the. creation of a municipal communications commons with open competitive provider participation - an Open Network. Upon City Council selection of a consultant in February, staff will provide the EDC with .regular status updates on the feasibility study. Staff will also continue to monitor the broadband and technology environment both locally and nationally. and will remain active in the Dakota County group as they explore this issue. ~l•~ ~. City of Lakeville ' r Community and Economic Development ~~ l~/Iemorandum To: Economic Development Commission From: David L. Olson, Community and Economic Development Direct6r Copy: Steve Mielke, City Administrator Adam Kienberger, Economic Development Specialist Dater November 21, 2008 Subject:.. November Director's Report The following is the Director's Report for November of 2008. Building Permit Report The City issued building permits through the end of October with a total valuation of $.116,812,761. This compares to a total of $129,215,400 during the same period in 2007. Included in this valuation were commercial and industrial permits with a total valuation of $31,263,900. This compares to a total valuation of $41,681,600 during the same period in .2007.. The City issued permits for 128 single family homes through October with a total valuation of $34,248,000. This compares to 162 single family home permits during the same period in 2007 with a total valuation of $43,091,000.. The City issued permits for 35 townhome and condo units through October which compares to 114 townhome and condo. permits issued during the same period in 2007. It should be ngted that the City issued the permit for the CDA's 87 unit Crossroads Senior Housing project in October with a building permit valuation of $8,319,000. ~:7 Market Plaza Construction Construction activity on the Market Plaza project in Downtown is nearing the end for this year.. Unfortunately the entire project will not be able to be completed this construction season. This was a result of a combination of colder temperatures starting earlier than in recent. years and the electrical relocation work taking a little longer than anticipated. All sidewalk areas are expected to be completed this year, but.. the concrete and paver portions of the parking lot itself along with the lighting installation and landscaping will need to be completed in the Spring. Fortunately there is no bituminous paving work to be completed and thus the Contract will not have to wait for blacktop plants to open next year. As a result, the remaining work should be able to be completed in the Spring so that the area will be ready for the start of the Farmers Market and other summer- activities. The City is submitting an application to the CDA for up to a $15.000 planning grant this year to be used to plan for possible improvements to the Pioneer Plaza area as well as the adjacent public and privately owned parking in that block. This application is due on December 1,..2008 and a decision by the CDA as to whether. to fund the application will be made in early 2009. The City will be required to match any planning grant on a 1 to 1 basis. Development Update Construction is continuing. on the new retail buildings in Heritage Commons, TimberCrest and Crossroads East. Construction is also progressing on the First Park Lakeville buildings located at the intersection. of Dodd Blvd..- and County Road 70. Foreclosure Update .[CDA Grant Mone Attached is the monthly update on foreclosures in Dakota County provided by the Dakota County CDA. There have been 254 Sheriff. Sales as a result of foreclosures in Lakeville through October of this year. This compares to 199 for all of 2007.. The Building Inspection Department is .currently monitoring approximately 135 vacant foreclosed homes in the City. The Dakota County CDA has recently received $2.8 million in federal funding under the Neighborhood Stabilization Program. The CDA is in the process of finalizing guidelines as to how they plan to administer these funds. At this point it .appears as though the CDA will use these funds to acquire. and demolish homes that are vacant and are no longer candidates for rehab. Leadership Lakeville Presentation Chairperson Jack Matasosky and I made a presentation to the 2008-09 Leadership Lakeville Class on Thursday, November 13th. Jack and I both talked about the City's approach to Economic Development including the City's Strategic Planning. efforts. Participants in the class seemed quite interested and asked numerous questions after our comments. Transit Station Development Updates Attached is news release. from Dakota County regarding an upcoming open house that the County will be hosting on the proposed transitway plan and Environmental Assessment that, has been completed for Cedar Avenue. This open house is being held on Thursday, December 4th at 4:30 - 7:30 in the Western Service Center in Apple Valley at Galaxie and Co. Rd. 42. City staff has also recently met with Metro Transit staff to discuss proposed site plans fora 200 stall park and ride lot to be constructed in Lakeville on Cedar Avenue south of 179t" Street. Metro Transit is also currently out for. bid for the proposed 500 stall park and ride ramp to be constructed along I-35 at Kenrick Avenue and 167th Street.. In order to comply with timelines specified in the federal UPA Grant Agreement the project will have to be constructed and. in service by the end of 2009. News Release FOR IMMEDIATE RELEASE Contact: Kristine Elwood, 952.891.7104 Nov. 14, 2008 ,~ ~'' r .~ C v , N T Y Talking Transit Dakota County schedules open house for Cedar Avenue Transitway Brandt Richardson County Administrator www.dakotacounty.us Gail Plewacki Communications Director Sharon Madsen. Communications Specialist 651-438-4235 Dakota County residents can share their thoughts on the proposed transitway plan and Environmental Assessment for the Cedar Avenue Transitway at an open house from 4:30 to 7:30 p.m. on Thursday, Dec. 4 at the service center located at 14955 Galaxie Avenue, Apple Valley. The open house and public hearing will be hosted by Dakota County Regional Raikoad Authority The proposed transitway plan outlines improvements that will be made to Cedar Avenue from 138th Street in Apple Valley to County Highway 70 in Lakeville, resulting in Minnesota's first bus rapid transit line. Bus rapid transit combines the flexibility of busses with the frequency, speed and reliability of light rail transit. Improvements to.Cedar Avenue will be made in stages. Express bus service will be expanded, followed by bus rapid transit operating on the shoulders of Cedar Avenue. Five transit stations, including two park-and- rides, will be constructed within in the transitway. A third traffic lane in each direction will be added to Cedar Avenue from 153rd Street to 160th Street. Other improvements include increased. connections to other transitways including the Hiawatha light rail line and the Northstar commuter rail corridor, intersection changes to improve safety and mobility and pedestrian walkways and bike paths. "The public input provided to Dakota County and its project partners has been invaluable in developing a plan for Cedar Avenue that will meet the community's needs for enhanced services with bus rapid transit and highway improvements today and in the future," said Dakota County Commissioner Will Branning. "Through this plan, we believe we can accommodate the expected doubling of transit riders and vehicles by 2030." Copies of the Environmental Assessment will be available for public review and comment at the open house and public hearing. Copies are also available at www.dakotacounty.us, search Cedar Avenue, and during business hours at the following locations: Dakota County Western Service Center Transportation Department 3'~ Floor, Room 33.5 14955 Galaxie Avenue Apple Valley, MN 55124 Dakota County Wescott Library Eagan Civic Arena (temporary location) 3870 Pilot Knob Road Eagan MN 55123-1029 - More - Dakota County Heritage Library 20085 Heritage Drive Lakeville, MN 55044 Dakota County Galaxie Library .14955 Galaxie Avenue Apple Valley, MN 55124 Comments on the Environmental Assessment maybe sent to Kristine Elwood, Cedar Avenue project manager, through Dec.17. All comments will be considered by the Dakota County Regional Railroad Authority as the project proceeds to the final design phase. Elwood maybe contacted at kistine.elwood(a(~co.dakota.mn.us, or 952-891-7104. Additional information on the project may be found at www.dakotacounty.us, search Cedar Avenue. 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J~ U U A A N N W V1 N ~ N O 00 ~ W ~ Q~ lJ J J A O oo N J O~ .P Q~ O J N W W ~O J 01 ~ O 0o U w c~ pp O Ci cn cn .A O w pp A~ J O O O v~ .r O ~l N Vi O O Q~ t!i O 0 0 0 0 0 c n O w oo O O O O cr t!i O O O ~l O O O O O O W O O O O w O O O O p O p p p p p pp p p p p p p p p p p p p p 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O O O 0 0 0 0 0 N O O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ? 0 0 0 C O O C C O O O C C C C O O O O CO O O O O O O O O O O C O C O O C C O O O O ~l O C C O O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O~ O O O ~a ~ ~~ ;~"'~~~rd~~ `i' ~~~ fir; ~~Y~ ~ <z~5xxc~c~~?nyy~ v, r~ a, o~ C ~ ~ m o o a C cc cc cc m~~ o a C `G :j C ~ " n ~ co ~ ~ ?. ~ ~ p ~ any~y- n NN c~~o ~ cao ~ ~ a O p, c~u ~ S ~ ~ ro cb0u m ~ o ~ ~ p w H R ^ ti O O 7 VI ~ b (o n ~. ~j O a x ~ 'O 'V ti N '.7 ~ ~ rt U\ bq 'O ~ ~ ~ 'O 'C7 ~ `~' ~ r°. ° o ~ ~ O O ~ o o~ .~ ~ ~ m c<o b0 r" ~. ~ ~ o' ~ a ~. ~ ~ b ., 'c' x ., O F+ pO O 0 S _ ~ O O N N t/~ A O W N Vii U ~ W r+ ~+ W r+ J \p O O ~O ~O ON. oo O O oho ~ O S 0 0 0 0 0 0~ ~ t1~ J 00 W 0 0 0 0 0 0 0 0 c~i~ S S °o S S S S S S ~ '-' O 0~0 ~P OHO N ? ~O W W ~1 ~ W ~ ~ ? 00 ~1 W W V~ to 00 ~O J Cn J O lJi r-~ N O O~~~~ W lli W i.n O c.n cn O to O O vi cr 0 0 0 0 0 0 0 0 0 N ~C CNh W ? O\ V~ O O O J ~oowoooo~oo 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 W J Cn O A O O J rn °o N O ~ O O O tin Q\ ? ~ t!i tli W 00 ~ N~ J J DD DD O\ O H O N Q~ N rr r--' ~p N .-~ ~ ~+ lJ 01 00 W 00 W O W ~ ~O J w O •P cn ~ N c.n ~ o0 N N ~O ~O N O\ O~ ~ ~ ~ ~ ~O O O O~ O vi cn O~ oo vi O O O O O O O O O A Q~ 0 0 W ~ N i--~ r-~ W ? ~-+ 00 00 W ~O O~ ~ N ~O y0 O N w o0 00 ~ O O O~~ w vii N~ ~P ~ cn o 0 0 .r rn o o N oo ~o cn S °o °o 00 °o S S °o S S °o S WI, cn O 0 °o 00 N ;P w U O O p0 O O O S 0 °o W .-~ N O W 00 O CAI oo, OI 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ~-+ W Vi C!i r-~ Vi r-~ N O~ O 0o VNi N W W l0 00 pip -P W N 00 ~O J .A O O to to cn O cn (n Cn O w 0 0 0 0 0 0 0 0 00 O A O p00 p0 p00000,00 O O O S O O O O O O O 0 0 0 0 0 0 0 p 0 0 0 0 0 0 0 0 0 0 0 J w °o 0 °o O O ~P Oo N O_ N O 00 O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 J A N N cn N ~O w oNO o0 .-~ w ~ .-~ v ~ A ~-+ in ~_ to ~ A ~ w N O J N Do ~ O W~~ cn O ~1 O cn OO C ~ C C O O cn O O O O w 0 0 ..+ J i-+ W •-+ N Cli 00 O~0 ~ ~ OWi 00 N ooocnv~ooooSo O C C O O O O O o O 0 0 0 0 0 0 0 0 0 0 O O O O O O O O O O O O O 0 0 0 0 0 0 0 0 0 0 0 °o A O O 0 0 S °o S 0 0 0 0 0 0 0 0 0 0 0 0 0 ° ° ° ° ° ° ° ° ° ° ° ° ° o o o o o o o o o o o o o ~ ~ O ~ -P ~ W O ~ O\ N ? O W O~ N N N~ N N CA W ~ w~~ ~ ~ ~ W v i o O o w w DD A OO O cn ~ 01 Vl O W N ? CA p p p p 0 0 0 0 0 O 0 0 0 ~ a\ 0 N r-+ W ~ N i-+ lJ ~ oo ~] ~O N ~ N ~-+ 00 ~ \C N V~ ~O W O O J cn lJ ? i--~ O~ lJ i-~ O J N ~p W O O\ Cl~ W W l0 W Q~ N N cn O O A~ O O oo O ~O 0 0 0 0 0 0 0 0 0 0 0 0 I O O 0 0 0 0 0 0 0 0 0 0 0 O O O O O O O O O O O O 0 0 °o °o ~ A N ~ ~ O w J J O N O O O O O O O O o G ~ ~ ~ C v' ~ 'ti ~ ~ C ~ ~ ~ ~ ~ ~ y va ~ e a a• ~ ~ ~ :? a' o ~ o ~ , ~ ~ d ~, ' ~ ~ ~ Q+ < ~ y ^rt ~/Q h N O~ I W W I Cli I O O N W I W ? N ~ A i--~ 00 N J O 0 ~ O 0 0 0 0 O 0 0 O 0 0 0 0 O O O O O O O O O O O O O O O O O O O. O O O O 0 0 0 0 S A A O O O J O O J O O O O G O 0 0 0 0 CI O O O O O O O O OI N ~ ~ O v~ A ~--~ N ~C W J N ~-` ~-` W A ~ W Vi O r-~ Oo ~ O O v w O O O O 0 p 0 0 p 0 0 0 O O O 0 O O O O O O O O i O' O p p O O O p p p p 0 0 0 0 O O 0 0 O O O O O O C C O C C O C C O O O O O O O O O O~, Dakota County .Community>Development Agency MEMO November 13, 2008 TO: Dakota. County Cities From: Dan Rogness, Director of Community Revitalization Re: Foreclosure Update 1 3 Cl ?~'~ E ;_~ E•.~ ~ ~. E~~ ~ t P ~~~~~ The Dakota County CDA recently held its third Foreclosure Counseling & Information Workshop with one more scheduled before the end of this year. The most recent workshop was held in Burnsville on November 6 at Prince of Peace Lutheran Church.. The next workshop will be held on December 4 at the Pleasant Hill Library in Hastings. Because of the success of these events, the CDA is hoping to schedule additional workshops in early 2009. The CDA has now posted a plan on its Web site (www.dakotacda.org) regarding the use of federal Neighborhood Stabilization Program (NSP) funding. The county will receive $2.76 million to be used within 18 months to help address the supply of foreclosed homes. Funding can be used for eligible activities, including: (I) establish financing for persons to purchase foreclosed homes, (2) purchase and rehab of foreclosed homes to be sold or rented, (3) purchase foreclosed homes and establish land banks, (4) demolish blighted structures, and (5) redevelop demolished or vacant properties. The County Board will review and approve this plan on November 25, 2008 for submission to HUD no later than December I . Dakota County Stats -October 2008 • # of Sheriff Sales in October - 190 (compared to 152 in October 2007) • Total Sheriff Sales for 2008 - 1,821 (compared to 1,235 Jan.-October, 2007) • # of Notice of Pendency's Filed in October - 332 • ..Total Notice of Pendency's Filed for 2008 - 2,532 A Notice of Pendency is filed by a mortgage- company's attorney as official notification that the foreclosure process has begun. Not all of these result in sheriff sales. Pages 3 and 4 of this PDF file have Sheriff Sale and Notice of Pendency statistics for each city. DakotaCounty Ca w !~ E P.S H t P Community Development Agency ~'~~:.~'.,~,~(,~;~~,~,, Mapping Using Dakota County GIS http://gis.co.dakota. m n.us/website/dakotanetgis/ The Dakota County Office of GIS is updating the 2008 Foreclosures and Notice of Pendency layers on a monthly basis. If you need assistance using this Web page, please call Randy Knippel or Mary Hagerman with the Office of GIS at (952) 89I -708 I . In The News Provided in this PDF file. are a few notable foreclosure articles that were published in the last month. Among the points of interest:. • Minnesota received $57.8 million from the federal government to redevelop properties or demolish problem properties. Dakota County received $2.76 million. The money will be targeted to address Dakota County communities that have seen a sharp increase in foreclosures. • The city of Burnsville will require that vacant properties be registered with the city and inspected before occupancy. • An article about the foreclosure rate in Farmington and information about foreclosures in Dakota County as a whole. The article also touches on the money that was allocated to the CDA. • A national article on the rise in foreclosures. The number of homeowners in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007. • Another article about the $57.8 million that the federal government gave to Minnesota to get foreclosed and abandoned homes sold and occupied again. If you have any other concerns, please call me at (65 I) 675-4464 or send me an email at drogness _dakotacdastate.mn.us. ~; „~ ',I _, _ •'~ r~ SC ~ ~,~`t J 4,~ • V • ~~ Q<• ,~ • G' • • • O • - • ~ • N • p • ~ ~• V '~_• ~ ~ .~ ~. o , o v, Q U w 0 O N L d O u r~~ ~..J L w i a~ 3 0 u i O LL O V ~ a~ 0 ~ •L t a °' C N O N ~O O~ ~ ~ d• u~ ~ ~ N CO N N N N N ~ ~ ~ - 00 N ~ u'f v- ~ 0 ~ ~ ~ ~ O N ~ N N v ] N N ~ - - N N ~ ^ ~ Q Z O t n N rOYt N d' O~ M N N - - t~ p~ ~ N ^ ~ to O M N N = N M ~ O Cp ~ N - a N ~` N ~ O ~ N d' CC ~ I~ V1 X11 N I~ O M N _ ~O O~ C~ 00 1 N N N ~ 3 ~O M 00 N vl - ~ - - - - o~ - ~1 - d' O~ N 1~ ~ - N ~ ~ N ~ ~ N N ~O ^ ~ ~r1 O - N L a N N N N ~ 00 N M T N to ~O N 1~ ~ N _ O~ ~A ' M 1~ ~ ~ 00 ~ {A N - f V N N ~ ~ N - ~ ~ ~ ~ LL N - 1 N N r~ CO M N M - _ O N N N N _~ ~ 2 s ~ V = ~ c 2 c ~- a .~ ~ d •~ . ~ bA ~ ~ +~,' O y~ H ~ V J fl L ~ _ •~ ~ N ~ •d o = ~ ~ N _ ~ LL T . 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Tw'Ce-i~~eel6ly Cag~ltal Feds fuel foreclosure fight Public Policy By Bob Geiger and Charley Shaw, Staff l~ler~rs~sa~rer Writer October 16, 2008 Login • Home Minnesota receives $57.8M from U.S. to fight foreclosure, • News Search redevelop abandoned houses • Photo Gallery • 2007 Lobbyists In an attempt to fight the rising tide of home foreclosures, the federal Directory government has allocated nearly $57.8 million to Minnesota, including Public Notices just over $T8.9 million for the Twin Cities area, to redevelop houses or • City of St. Paul raze problem properties. • Private Notices • Foreclosures • search Notices On Sept. 26, the federal Department of Housing and Urban • Summary of First Public Notices Develo ment HUD announced the allocation of $4 billion throu h the p ( ) g new Neighborhood Stabilization Program to states to address the • Contact us .nationwide foreclosure epidemic. The allocation is part of Congress' • Advertising • Subscribe emergency response to the housing and mortgage meltdown in the U.S. • About Us -the Housing and Economic Recovery Act of 2008 (HERA), which President Bush signed July 31. Editorial Offices: St. Paul Legal Ledger 332 Minnesota St. received $38.8 Minnesota Housing the state housing finance agency Suite E-1432 St. Paul, MN 55101 , , million of that total. Phone: (651)222-0059. Fax: (651)222-2640 Spokesperson Megan Ryan said Minnesota Housing officials were scheduled to speak this week with the Minnesota Foreclosure Funders Council to discuss a formula that will be used to disperse NSP money to communities that have been hit by foreclosures. Minnesota Housing researchers have pinpointed ZIP codes in which the foreclosure crisis has been especially pronounced, Ryan said. "It does need to be addressed statewide.... A lot are in the metro area, http://www.legal-ledger.com/item.cfm?recID=11148 10/20/2008 St. Paul Legal Ledger but others are in [cities such as) Duluth and St. Cloud," Ryan said. Minnesota Housing officials plan to meet Friday with local partners to discuss issues related to acquiring foreclosed properties. The state must send its final plan to HUD by Dec. 1. Page 2 of 4 Local communities and nonprofit organizations can apply to Minnesota Housing for a share of the dollars. Minnesota Housing itself, however, won't buy any foreclosed homes, Ryan said. The city of St. Paul will receive $4.3 million in NSP money from the HERA allocation, according to Cecile Bedor, director. of the St. Paul Planning and Economic Development Department. St. Paul also plans to request some of the $38.8 million that Minnesota Housing received from the NSP, according to Bedor. In 2007, there were 1,819 sheriff's sales in St. Paul. That number has already been surpassed this year, with 1,843 through September. St. Paul has identified four neighborhoods in the city that have been hardest hit by foreclosures. The city launched the Invest St. Paul program to target foreclosures in Dayton's Bluff, Payne-Phalen, the North End and Frogtown, according to Bedor. The St. Paul City Council will act on the final plan. Bedor said the city hasn't determined how it will divvy up the money for uses allowed by HERA such as demolishing blighted homes and financing redevelopment of foreclosed homes. But Bedor expects the city will use a significant portion of the money to acquire properties. The city will decide if the homes should be rehabbed and sold or demolished. "One of the greatest needs for us it to acquire and control foreclosed properties and determine the dispositions of the properties," Bedor said. Minneapolis got $5.6 million from the HERA allocation,'and Hennepin County got $3.9 million. "We're trying to figure out is what are our hardest-hit areas are," said Kevin Dockry, manager of housing and development for Hennepin County's Housing, Community Works and Transit Department. "The low- hanging fruit are problem properties." http://www.legal-ledger.com/item.cfm?recID=11148 10/20/2008 St. Paul Legal Ledger Page 3 of 4 Such blighted properties, many of which are boarded-up, are dangerous because they are havens of criminal activity. In Hennepin County alone, there were 5,798 sheriff foreclosure sales between Jan. 1 and Sept. 30, 2008, according to Hennepin County Taxpayer Services. Leading foreclosure sales in the county during that period were Minneapolis, 2,551; Brooklyn Park, 755; Brooklyn Center, 344; and Maple Grove, 226. Minneapolis and Hennepin County have joined forces to raze at least 50 properties in 2008 as part of an effort to remove the problem instead of spending taxpayer money to fix up a few homes. "Clearly these are no places with more foreclosures than Minneapolis, Brooklyn Center, Brooklyn Park and part of Richfield," Dockry said. "That is ground zero for foreclosures. If we're stuck with meager resources, maybe we can help 250 units." According to Tom Streitz, director of housing and policy development for the city of Minneapolis, one-third, or nearly $1.9 million of the $5.6 million Minneapolis received, will be used for demolition of problem homes and related activities. Another $2.2 million will be invested toward acquiring and maintaining existing projects, utilizing existing partnerships with nonprofit organizations. Streitz said the remaining funds designated for home- ownership programs for qualifying lower-income residents. Dakota County will receive $2.76 million in NSP dollars from the HERA. allocation: The money will be targeted to address Dakota County communities that have seen a sharp increase in foreclosures, said Dan Rogness, executive director of Dakota County's Community Development Agency (CDA), which is responsible for implementing the program. In 2005, there were 454 sheriff s sales in Dakota County. There were 880 auctions in 2006 and 1,581 in 2007. Through September, Dakota County already had 1,632 sheriff's sales, Rogness said. A total of 11 cities in Dakota County have populations greater than 10,000 people, among them Apple Valley, South St. Paul and Hastings. All of those cities need NSP money to address the spike in http://www.legal-ledger.com/item.cfm?recID=11148 10/20/2008 St. Paul Legal Ledger foreclosures, Rogness said. Page 4 of 4 Dakota County's CDA conducted a previously scheduled workshop with its cities last week. The agency used the meeting to fill local officials in on the emergency dollars available to the county, Rogness said. Since then, the communities have been responding with information about residences that have been foreclosed upon. "We're getting input from cities about what they see as the areas of greatest need," Rogness said. The Dakota County Board plans to meetNov. 25 to approve a plan to use the NSP money, according to Rogness. And the county's CDA is also working on mapping data to identify areas of greatest need. The data include the number of subprime loans held by homeowners in the county, estimated foreclosure abandonment risk and the predicted 18-month foreclosure rate, Rogness said. ©Copyright 2008 Finance & Commerce. Inc. All Rights Reserved CONTACT US I ADVERTISING I SUBSCRIBE I ABOUT U5 http://www.legal-ledger.com/item.cfm?recID=11148 10/20/2008 ThisweekLive-Thisweek Newspapers/Dakota Co. Tribune -City to require registration, in... Page 1 of 2 City to require registration, inspection of vacant .homes Thursday, 16 October 2008 by John Lessner Thisweek Newspapers Responding to the rise in home foreclosures, Burnsville will require that vacant properties be registered with the city and inspected before occupancy. At a work session Tuesday, City Council members agreed on an ordinance that would attach $300 in fees to vacant properties. Approval is expected at an upcoming council meeting. As of Aug. 15, .8 percent of Burnsville's homes had gone into foreclosure. Last year, .9 percent went into foreclosure. There were 217 sheriff's sales through Aug. 15, compared with 220 for all of 2007. Through- . Aug. 15, there were 287 pendency filings (mortgage-company notifications that foreclosure proceedings have begun). The ordinance requires vacant properties to be registered with the city. It imposes existing fees for water shutoff ($60) and water reconnection ($65). It adds new fees a city inspection ($75) and city monitoring of the property ($100, to be charged annually). The ordinance requires water to be shut off and the pipes drained. Owners will be responsible for draining the pipes. The gas must be shut off by the .utility company. Properties must be maintained and lawns mowed. If they're not, the city will do the work and assess the properties. The city will inspect properties before sale or occupancy to ensure basic functions (running water, heat and electricity) and. compliance with the city's property maintenance code. "We're not looking to do truth-in-housing inspections," Community Development Director Jenni Faulkner said. "We don't want a buyer of the property to think the city's inspected it and it's a .perfect property." The city has already begun distributing a brochure on ways for owners to deal with foreclosures. Most foreclosed properties in Burnsville are being cared for, Faulkner said. "We've heard of people mowing the lawn next door," she said. John Lessner is at burnsville.thisweek@ecm-inc.com. Commen#s (0) http://www.thisweeklive.com/index2.php?option=cam content&task=view&id=4146&p... 10/27/2008 ThisweekLive-Thisweek Newspapers/Dakota Co. Tribune -City to require registration, in... Page 2 of 2 Write comment Close Window http://www.thisweeklive.com/ndex2.php?option=com content&task=view&id=4146&p... 10/27/2008 ThisweekLive-Thisweek Newspapers/Dakota Co. Tribune -Farmington hit hard by forecl... Page 1 of 3 Farmington hit hard. by foreclosures Wednesday, 22 October 2008 Farmington has highest percentage of foreclosures in Dakota County; new program aims to provide relief by Jessica Harper Thisweek Newspapers Every city in Dakota County has fallen victim to rising foreclosures, but no city has been hit as hard as Farmington. According to Dakota. County Community Development Agency (CDA) records, Farmington has had the highest. percentage. of foreclosed .homes in the county for the. past two years. In 2007, 2 percent (126) of Farmington's 6,708 homes were foreclosed, which jumped to 2.1 percent (144) of homes as of Sept. 30. ~om~a~son ~f Ft~reclQ~ures in paK~ta ~~unt~'s 1 ~ Maj~~ it~~~ ~ 2,5 ~L~J,~ __ - - zoos xo ; ~s°, ;~_ _ F'~ -~ ~.o ~ ~r~~ ' ~~s i` C 0.~, '~ IgF II !- , era __ _ .. _. .. ~ z L s s ~. ~ r riy C! p In 2007 and 2008,. the median percentage of foreclosed homes among the county's 11 major cities has been 1.2 percent. Dakota County CDA started tracking foreclosures in the county's 11 major cities in 2007, when officials noticed a large boom countywide. Dakota County's foreclosures increased more than 600 percent from 257 in 2003 to 1,610 in 2007. The largest jump occurred between 2005 and 2006 when the county's foreclosures doubled from 454 to 880. As of Sept.. 30, 1-,631 (1.08 percent) homes are foreclosed in Dakota County. CDA has not researched why some cities have higher percentages of foreclosures than others, but CDA Director of Community Revitalization Dan Rogness speculates that cities like Farmington may have a higher percentage of foreclosures due to their growth in the last three years. "That's the time period when people were purchasing homes at the highest selling price. When the market changed substantially, it's likely that a .number of those buyers were obtaining the types of mortgages that had adjustable rates and subprime type mortgages. A combination of those factors would possibly lead to the conclusion that they have a higher percent." http://www.thisweeklive.com/index2.php?option°com content&task=view&id=4237&p... 10/27/2008 ThisweekLive-Thisweek Newspapers/Dakota Co. Tribune -Farmington hit hard by forecl... Page 2 of 3 Farmington Community Development Director Lisa Dargis agreed. "We have a lot of new homes in our community, and have seen a significant increase in population prior to the slowdown." Other rapidly growing cities such as Lakeville, Rosemount and Apple Valley had 1.2 percent of their homes in foreclosure in 2007. All three cities are gradually creeping up to the same .percentage this year. As of Sept. 30, 1.16 percent of Apple Valley homes were in foreclosure; 1.2 percent of Lakeville and Rosemount homes were in foreclosure. Although Farmington's foreclosures are on the rise, the trend has not affected the city's ability to collect property taxes, Finance Director Robin Roland said. The city of Farmington has successfully collected 96 percent of its 2008. property taxes, leaving only 4 percent unpaid, she said. When a property is foreclosed, the lender or new owner is responsible for outstanding taxes, she said. After five years of delinquency, the county can seize and sell the property, unless the homeowner agrees to a payment plan, said Joel Beckman, director of property taxation and records for Dakota County. "That's very rare, though, that we would have to forfeit a property," he said. Help may be coming In addition to going after delinquent taxpayers, Dakota County is currently working to provide relief to cities and residents struggling with foreclosures. CDA recently received $2.7 million from the U.S. Department of Housing and Urban Development to acquire and redevelop foreclosed homes. The effort is a part of HUD's new Neighborhood Stabilization Program. CDA plans to allocate the money to cities on a greatest-need basis, which it will determine by examining which communities have the highest number of subprime loans, greatest risk for foreclosed and abandoned homes, and by examining cities' predicted 18-month foreclosure rate. Once CDA determines which communities qualify for assistance, it must allocate the money using one of the following methods: • acquire, renovate and sell foreclosed homes; • acquire, renovate and rent foreclosed homes with ownership by a nonprofit housing agency or the CDA; http://www.thisweeklive.com/index2.php?option=com content&task=view&id=4237&p... 10/27/2008 ThisweekLive-Thisweek Newspapers/Dakota Co. Tribune -Farmington hit hard by forecl... Page 3 of 3 • acquire and demolish blighted foreclosed homes, leaving a vacant lot for a new home; • or provide down payment assistance for homeowners who are purchasing a foreclosed home. Dargis said the. down payment assistance program would likely be the most beneficial method for Farmington. HUD also mandates that 25 percent of the funds must benefit people living at or below 50 percent of the area's median income, and that the remaining funds must serve people living at or below 120 percent of the area's median income. CDA must provide a plan to HUD by Dec. 1 before it can begin distributing the money to local governments. In addition to joining HUD's Neighborhood Stabilization Program, CDA offers free mortgage foreclosure counseling to all Dakota County residents. The program provides free counseling assistance, referrals, and in some cases, financial assistance. For more information about foreclosure- c eling services, call (651) 675-4555 or visit www.dakotacda.org. E-mail Jessica Harper at: Jessica. harper@ecm-i nc.com Comments (o)- Write. comment Last Updated (Thursday, 23 October 2008 ) Close Window http://www.thisweeklive.com/index2.php?option=com_content&task=view&id=423 7&p... 10/27/2008 Foreclosure activity rises 70 percent -Real estate - MSNBC.com Page 1 of 2 _ MSNBC.com i=oreciosure activity rises 70 percent Huge jump in the third quarter-over the same period last year The Associated Press updated 7:18 a.m. CT, Thurs., Oct. 23, 2008 WASHINGTON -The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data released Thursday. Nationwide, nearly 766,000 homes received at least one foreclosure-related notice from July through September, up 71 percent from a year earlier, said foreclosure listing service RealtyTrac Inc. By the end of the year, RealtyTrac expects more than a million bank-owned properties to have piled up on the market, representing around a third of all properties for sale in the U.S. That's bad news for anyone who lives nearby and wants to sell their home. While foreclosure sales are booming in many areas, those properties are commanding deep discounts and pulling down neighboring. property values. "It has a pretty significant impact in terms of pricing," said Rick Sharga, RealtyTrac's vice president for marketing. RealtyTrac monitors default notices, auction sale notices and .bank repossessions. More than 250,000 properties were repossessed by lenders nationwide in the third quarter, 81,000 of which were taken back last month. Six states -California, Florida, Arizona, Ohio, Michigan and Nevada -accounted for more than 60 percent of all foreclosure activity in the quarter, with California alone making up more than a quarter of all U.S. foreclosure filings. Detroit and Atlanta were the only cities outside California, Florida, Nevada and Arizona to make RealtyTrac's list of the 20 hardest-hit metropolitan areas. The combination of sinking home values, tighter mortgage lending criteria and an economy that many economists think has already slipped into recession has left hundreds of thousands of homeowners with few options. Many can't find buyers or owe more than their home is worth and can't refinance into an affordable loan, with the global credit crisis making loans far less available. For those who can qualify for a loan, or have cash to invest, there are bargains to be had, especially in ravaged markets like Nevada and California. Last month, foreclosure resales accounted for more than half of existing home sales in California last month, as home sales jumped 65 percent from a year ago, while the statewide median home price fell 34 percent to $283,000, according to MDA DataQuick. RealtyTrac, however, reported foreclosure filings in September were actually down 12 percent from August. But much of that decline was the result of new state laws that delay the foreclosure process. In California, for example, lenders are now required to contact borrowers at least 30 days before filing a default notice. A similar law in North Carolina gives borrowers an extra 45 days. Still, that's not likely to be enough to save homeowners who owe more on their mortgages than their homes are worth. Nearly 12 million of the 52 million Americans with amortgage -that's 23 percent of them -are in that position, according to Moody's Economy.com. It remains to be seen how much the government's intervention will stem the:-housing crisis. Earlier this month, the Federal Housing Administration launched a program that aims to prevent foreclosures by allowing homeowners to swap their mortgages for more affordable loans, but only if their lender agrees to take a loss on the initial loan. The bill is projected to help about 400,000 households. Meanwhile, the Federal Deposit Insurance Corp., which took over Pasadena, Calif.-based IndyMac Bank over http://www.msnbc.msn.corn/ic11~:7329406/print/ 1 /displaymode/ 1098/ 10/23/2008 Foreclosure activity rises 70 percent -Real estate - MSNBC.com Page 2 of 2 the summer, has been aggressively modifying troubled home loans since August in an effort to stave off foreclosures. Congressional Democrats are calling for that approach to be expanded as the Treasury Department buys billions in troubled mortgage debt as part of a $700 billion financial industry bailout. © 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. URL: http:l'wwc~~.msnbc.sn.com'id127329406/ MSN Privacy .Legal ©2008 MSNBC.com http://www.msnbc.msn.com/id/27329406/print/1/displaymode/1098/ 10/23/2008 Minnesota gets cash boost to help housing crisis CT~"'~~Litt~~CUrTl P~~iTI~lIk1E.~.F~~~aL1~-~T_F'1~I.1L,~%~I~ti~vI;SJTh~ Minnesota gets cash boost to help housing crisis By MARIA ELENA BACA, Star Tribune October 24, 2008 Page 1 of 2 The federal government is lending a $57.8 million hand to state and local governments efforts to get foreclosed. and abandoned homes sold and occupied again. The Twin Cities, three metro counties and the state of Minnesota will receive the money through a new unit of the Department of Housing and Urban Development (HUD) that aims to help the nation's communities hardest-hit by the foreclosure crisis. Of the total allocation, the Minnesota Housing Finance Agency received $38.8 million; Minneapolis, $5.6 million; St. Paul, $4.3 million; Hennepin County, $3.9 million; Dakota County, $2.8 million; and Anoka County, $2.4 million. Those communities were chosen based on the number and rate of foreclosures, subprime mortgages, delinquencies and defaults. In Minnesota overall, 4.5 percent of homes started foreclosure proceedings in the past 18 months; in the targeted counties, the figures ranged from 4.1 percent to 6.7 percent. The aid, funneled through HUD's new Neighborhood Stabilization Program, can be used to purchase foreclosed. properties for rehab and sale, or in few cases, demolition. Homes that are sold through the program must be sold at or below the purchase price plus the rehab investment, and buyers must complete eight hours of homebuyer education. The money also can be used to offer down-payment and closing-cost assistance to buyers who are at or below 120 percent of the area's median income (about $67,000, depending. on family size) or to create land banks to stabilize neighborhoods and encourage redevelopment. "This is a huge boost to the Minnesota efforts that are already underway," said Megan Ryan, communications director for Minnesota Housing. "The enormity of this problem is stunning, just the time that it takes to find these properties and buy them. Many of them include very complex title issues, so it's really difficult work and it takes a lot of time.... This infusion of federal money is a really a boost, so we can replicate what we've done so far." The. Neighborhood Stabilization Program was created as part of the Housing and Economic Recovery Act of 2008, which included $3.92 billion in funding to help states respond to rising foreclosures and falling home values. Eighteen states received the minimum of $19.6 million; many received substantially more. With 8 percent of its homes starting the foreclosure process in the past 18 months, Florida topped the list at $541 million; 10 states received more than $100 million. http://www.startribune.com/templates/Print This_Story?sid=33284169 10/28/2008 Minnesota. gets cash boost to help housing crisis Page 2 of 2 At the county level, officials' enthusiasm was more muted. "This is a down payment on helping us with the problem," said Mark Ulfers, executive director of the. Dakota County Community Development Agency. "Clearly it isn't. everything that's needed. Government can't do everything to solve this problem, but it does provide another avenue to address ordeal with the mortgage foreclosure crisis." Still, he and others added, the stakes are high. "Our real goal is to focus not just at the city level but at the neighborhood level, the areas hardest-hit, so we can stabilize that," said Kevin Dockry, manager of housing development and finance for Hennepin County. He added that a dozen empty and blighted homes over a long period can have negative effects on a neighborhood. "It takes a mental and emotional toll on people, and. they start to feel trapped. They are trapped, with the number of properties on the market." The federal money comes with strings attached. At least 25 percent needs to be targeted to help people at or below 50 percent of the state median income. Each state, city or county has to create a plan and submit it by Dec. 1 to HUD, which has 45 days to review it. The money needs to be committed within 18 months, and spent within five years. Cities, counties and nonprofits also will be able to apply for a chunk of the state's sum. Ryan offered a few examples of programs that, on a preliminary basis, seemed like a perfect fit: A Twin Cities Habitat for Humanity program to buy, rehab and sell foreclosed properties, and programs in north Minneapolis and St. Cloud to increase affordability of foreclosed homes through investment and rehabilitation. Maria Elena Baca • 612-673-4409 ©2008 Star Tribune. All rights reserved http://www.startribune.com/templates/Print This_Story?sid=33284169 10/28/2008 As foreclosure crisis grows, solution elusive - TwinCities.com TwinCities~com Page 1 of 3 s foreclosure crisis ~ov~es, solution elusive bursting home price bubble, tanking economy deepen troubles By Alan Zibei Associated Press Article Last Updated: 10,27t2008 07:03:45 AM CDT WASHINGTON -Each day from July through September, more than 2,700 Americans lost their homes in foreclosure. That number, up from 1,200 a day a year ago, is a sign the mortgage industry and government programs have done little to help troubled homeowners. The mortgage market's troubles have proved to be far more serious and intractable than most in government or the private sector had predicted a year ago. "We are behind the curve. We are falling behind," Sheila Bair, head of the Federal Deposit Insurance Corp. said at a Senate hearing Thursday. "There has been some progress, but it's not been enough, and we need to act. And we need to act quickly, and we need to act dramatically to have more wide-scale, systematic (loan) modifications." More than 4 million homeowners with a mortgage were at least one month behind on their payments at the end of June, according to the latest data from the Mortgage Bankers Association, and a record 500,000 had entered the foreclosure process. So why is the foreclosure crisis so hard to fix? There are five main reasons: CRASHING HOME PRICES A massive speculative bubble in housing prices caused millions of Americans to think of their homes as an investment, rather than a place to live. Now prices are plummeting, especially in once- sizzling markets like California, Florida and Nevada. And the bleeding might not stop until the end of .next year. The median home price in the U.S. dropped 9 percent in September from a year ago to $191,600 and is down 17 percent from the peak in July 2006, the National Association of Realtors said Friday. Already, 23 percent of homeowners with a mortgage owe more on their loans than their homes are worth, and that figure is expected to rise to 28 percent by this time next year, according to Moody's Economy. Advertisement 'Firl r~~,,:' F~~t http://www.twincities.com/business/ci_10823824?nclick check=l 10/27/2008 Maria Martinez stands in front of her home Wednesday, Oct. 22, 2008, in Stockton, Cafif. (AP Photo/Ben Margot) As foreclosure crisis grows, solution elusive - TwinCities.com TwinCities: com Page 2 of 3 com . Sophie Lapointe, a mortgage broker and owner of Five Star Mortgage in Las Vegas, has found there's little that can be done to help people who owe more than their homes are worth. "The biggest problem is negative equity,"-she said. When homeowners in that position ask her about refinancing, Lapointe tells them to contact their current lender and ask about a loan modification because she already knows no new lender will give them a loan. INVESTOR SPECULATION Plunging prices have had even more impact on investors than on homeowners because investors have less emotional attachment to a house. They're even more likely to walk away, especially if they've put little money into a property. Investors purchased one of every five homes last year, and almost one of every three when the market peaked in 2005, according to the Realtors trade group. Now, more than 30 percent of properties in the foreclosure process are owned by someone with a different address, indicating the home is likely owned by an investor, according to foreclosure listing service RealtyTrac Ina COMPLEX INVESTMENTS Traditionally, lenders evaluated borrowers carefully because they held onto the mortgages for the life of the loan. That process started to change in the late 1980s, as Wall Street found new ways to package the loans into securities to sell to investors. Investors were attracted to these new mortgage- backed securities because they paid better returns than government bonds. The high-interest, risky mortgages, called "subprime" loans, boomed from $160 billion in new loans in 2001 to more than $600 billion in both 2005 and 2006, according to Inside Mortgage Finance, a trade publication. When mortgages are packaged into securities, borrowers' monthly payments are divided up and sent to thousands of investors around the world. With so many owners, helping troubled borrowers is tougher. Many of these investors have been reluctant to agree to drastic loan modifications, such as reducing the principal balance, because they don't want to take a big loss. Without such modifications, many homeowners can't avoid foreclosure. Democrats on Capitol Hill are frustrated. On Friday, six House Democrats, including Rep. Barney Frank, D-Mass., accused hedge fund investors in a letter of blocking loan modifications and called them to a hearing on the issue next month. JOB LOSSES The No. 1 reason people fall behind on their mortgage is loss of a job, or some source of income, perhaps from a divorce or death of a spouse. If a borrower is unemployed, lenders don't have many options but foreclosure. Two years ago, about 36 percent of mortgage delinquencies were caused by loss of income or unemployment, according to research by the Advertisement http://www.twincities.com/business/ci_10823824?nclick check=l 10/27/2008 As foreclosure crisis grows, solution elusive- TwinCities.com TwinCities~com Page 3 of 3 mortgage finance company Freddie Mac. But that number has risen to 45 percent this year as the unemployment rate has ticked up to a five-year high of 6.1 percent. FALLING BEHIND AGAIN It's hard to fix something that keeps breaking. Roughly one-third of all subprime loans modified in the third quarter of last year were delinquent again within 10 months, according to a Credit Suisse report released this month. Maria Martinez, 57, an administrative worker at the county jail in Stockton, Calif., is typical of homeowners who have gotten help, but not enough. She is three months behind on her mortgage, even after receiving a loan modification earlier this year. Though Martinez bought the house more than a decade ago for only $76,000, she now owes about $230,000 because she refinanced her home loan several times. "I was trying to borrow some money to pay some bills," said Martinez, who is on leave from her job after being diagnosed with cancer. "I didn't really think ... that I would get into a bind like this," she added sadly. WHAT SHOULD BE DONE Faced with public outrage that they passed a $700 billion plan to rescue the financial industry, politicians in Washington are going to keep trying to find ways to fix the foreclosure crisis. One promising approach came this month when 11 states entered into a more than $8 billion settlement with Countrywide Financial and its new parent Bank of America Corp. The settlement, which goes into effect Dec. 1, is projected to help an estimated 400,000 Countrywide borrowers by allowing them to replace risky loans with ones at substantially lower interest rates. And in Washington, the FDIC's Bair has proposed a plan in which the government would guarantee mortgages that have been reworked by banks, lowering payments to more affordable levels. All eyes now are on top officials to see if the government is able to craft a new plan that gets at the heart of the global financial me-tdown -the U.S. foreclosure crisis. Advertisement http://www.twincities.com/business/ci 10823824?nclick check=l 10/27/2008 Lights out for solar Wi-Fi plan in St. Louis Park http://www.startribune.com/templateslPrint This_Story?sid=34437914 ~~~Cl"~t`!~[.>if3G~~.G~ti'1 IrIII~1I~EN_~~~L~ -~T. F'r~t~L, PvI - ,;~~~iT~ Lights out for solar Wi-Fi plan in St. Louis Park By LAURIE BLAKE, Star Tribune November 13, 2008 Arinc Inc. will. pay St. Louis Park $1.05 million for failing to deliver acommunity-wide wireless .Internet system powered by the sun. In arriving at the agreement, neither the company nor the city admitted responsibility for delays and performance problems that led the city last December to find the company in default of its contract. Said Arinc attorney Joe Dixon, "The city and the client [Arinc] have different views of what went wrong. We are both pleased to reach a settlement." By Jan. 30, the city will remove and return to Arinc the solar panels and radios on 490 poles installed across the city. Because the poles are mounted in concrete in the ground and the ground soon will be frozen, they will be removed over the course of two to three months starting next May, said St. Louis Park City Manager Tom Harmening. The city will sell the poles for scrap metal Eight miles of buried fiber-optic cable will stay in place and become the property of the city for some future use, Harmening said. When St. Louis Park contracted with the Maryland company in December 2006 for a futuristic solar-powered wireless network, the city had hoped to help bridge the digital divide by offering more affordable Intemet service to residents and businesses, Harmening said. "It was intended to better connect the city overall," he said. St. Louis Park chose Arinc to build the system, largely because Arinc had proposed making it solar-powered; it was also the low bidder on the project. But after repeated delays, the system wasn't performing. up to St. Louis Park's expectations, and the city finally found Arinc in default of its contract. The city filed a lawsuit last spring seeking $1.7 million for the unfulfilled contract and another $50,000 in damages and attorneys' fees. Whether the city will try again to build a wireless network is uncertain. Council members agreed last February to shelve the decision for a year while waiting to see what kind of financial settlement the city would get from Arinc. They also wanted to monitor development of wireless technology. The settlement returns to the city all the money it spent while Arinc was under contract to 1 oft 11/14/2008 8:04 AM Lights out for solar Wi-Fi plan in St. Louis Park http://www.starnibune.com/templates/Print This_Story?sid=34437914 build the network. But it does not pay for research and development costs the city bore prior to the contract, Harmening said. Laurie Blake • 612-673-1711 ©2008 Star Tribune. All rights reserved. 2 oft 11/14/2008 8:04 AM Mayor's Response to the Appeal of theTDS Lawsuit NOVEMBER 11, 2008 As your Mayor for the City of Monticello, I feel it is time to lay out the truth regarding the city's decision to install fiber and TDS's lawsuit that attempts to stop us. The city council, staff .and myself have been handcuffed in our ability to offer information to the public for fear that TDS would twist the information and add new allegations to their suit, thus extending the litigation. We (the city) talked with TDS on several occasions to explore options to give the citizens and businesses of Monticello cutting edge technology. We felt that fiber optic technology would attract another level of business and industry that would offer our .residents well-paying, local jobs. It has been and continues to be the city council's goal to create a city where you can work, live and raise a family. It was also very important to make sure EVERY resident was given the opportunity to experience this technology. Councilman Wayne Mayer and I met with TDS at their office. We expressed our concern that every resident and business should be able to access the fiber optic system. We were told that they "could not justify the expense" to their shareholders and they "already had good copper in the ground." Their plan was to continue to offer fiber to new developments, but not address existing homes. It was clear to Wayne and I that if the citizens of Monticello were to experience this type of technology. it would be in their own hands. Therefore, the council decided to put it up to you, the citizens of Monticello. You made your voice heard loud and clear by passing a referendum. by 74%. That was after being bombarded with telephone calls and mailings from TDS that were very misleading. Claims were made that this system would cost the citizens of Monticello 25 million dollars, but TDS knows how revenue bonds work. I know that, because I sat in a courtroom and listened to their high priced Chicago attorney explain why we shouldn't be able to use this type of bond to fund the system. They know that these dollars are raised through investors and it is these investors who would be on the hook if this system failed. TDS tries to claim that they are suing us to protect the citizens of Monticello, but the truth is that they want to continue their monopoly for land line telephone in Monticello. If they were really concerned about YOU, they would. have taken the many opportunities we offered to work together to lower the overall cost of offering fiber to each and every home in Monticello. If they were really concerned about you, they would have offered lower prices and huge discounts before the city passed a referendum to bring fiber to EVERY home in Monticello. Why does TDS suddenly have a big heart Jt~3a+~r #heir rates? I don't know about you., but it makes me mad that I feel I've .been overpaying for years! The TDS lawsuit was dismissed. It came as no surprise to me. I could see it for what it was, an attempt to stall the inevitable; an attempt to once again keep you under their .thumb paying some of the highest rates in the country. It is time for all of us to stand up to TDS. and. say we won't take it any more. TDS had 30 days to appeal and although they continually claim that they want to expedite this suit, they waited 29 days before issuing their Notice to Appeal Does this reek of another stall tactic? You decide. Monticelloans should be enjoying fiber to the home. Not from the curb, but to the home. The city is committed to bringing fiber to your home and offering services such as full high definition TV, telephone services (land line, VOIP, cellular) and. ultra high- speed Internet (both upload and .download). I have been .open and honest with you. I live here and I am accessible. Try calling a decision .maker from TDS. Good luck. They don't live here. 1f TDS is really concerned about you, they will end this lawsuit and find ways to work with the city to put this type of technology in place. They keep saying that they want to work with us, they keep saying they have held their hand out.. Really? I have only witnessed TDS turning down our repeated attempts of working with them. TDS, it is time to stop. punishing the citizens of Monticello. We know that the dismissal of this lawsuit will NOT be overturned. We know that the monopoly is over. Why would you keep punishing your customers? If you really want to work with us like you claim, give me a call. I expressed my willingness to sit down with you at a recent council meeting to discuss options. Since there are no decision makers from TDS living in Monticello to witness the meeting, I'll lay it out here in the newspaper. Feel free to contact me on my personal cell phone: 612-810-0840. I look forward to hearing from you. I look forward to putting the citizens of Monticello first. Any good business would do just that. Clint Herbst. Mayor for the City of Monticello Submitted as a "Letter to the Editor" to the Monticello Times Newspaper Page 1 of 3 Olson, David From: MN Department of Employment & Economic Development [StateOfMinnesota@ngwmail.des.state.mn.us] Sent: Thursday, November 20, 2008 12:29 PM To: Olson, David Subject: October Employment Figures • - For Immediate Release November 20, 2008 Contact: Kirsten Morell, 65.1-259-7161 Kirsten.Morell cr,state.mn.us Minnesota Unemployment at 6 Percent; 7,500 Jobs Cut in October Minnesota WorkForce Centers positioned to help job seekers ST. PAUL -Minnesota employers cut 7,500 jobs in October, according to figures released today by the Department of Employment and Economic Development (DEED). The state's unemployment rate edged up to a seasonally adjusted 6 percent in October. That compares with a U.S. rate of 6.5 percent after 240,000 jobs were lost nationwide during the month. "The state and national economies continue to be tested by a broad slowdown that has. hit many sectors," said DEED Commissioner Dan McElroy. "Despite the challenging jab market, financial. activities as well as education and health services continue to post surprisingly strong employment numbers in Minnesota ." McElroy encourages people who are seeking jobs to visit any of DEED's 47 WorkForce Centers around the state, including 11 in the Twin Cities market. The centers offer a variety of free services, including computer terminals and other resources for job searches, and workshops on writing resumes and preparing for job. interviews. The state's September employment figures were adjusted upwards by 1,500 jobs. Minnesota 's over-the-year job growth stands at -0.6 percent, compared with the nation's -0.8 percent. Education and health services has added about 7,100 jobs in the past 12 months, up 1.6 11 /20/2008 Page 2 of 3 percent, while financial activities gained 2,800 jobs, growing 1.5 percent. Government has gained 4,300 jobs, up 1 percent since October 2007. Other over-the-year employment figures are shown in Table 2 below. During October, gains were posted in education and health services (up 1,700), leisure and hospitality (up 1,000) and government (up 700). Natural resources and mining was flat. Losses during the month were found in trade, transportation and utilities (down 4,800), manufacturing (down 2,000), construction (down 1,900), professional and business services .(down 1,100), other services {down 700), information (down 300) and financial activities (down 100). In the state's Metropolitan Statistical Areas, over-the-year gains were found in Rochester MSA (up 0.6 percent), Fargo-Moorhead MSA (up 1.1 percent) and Grand Forks MSA (up 1 percent). Losses were posted in the Minneapolis-St. Paul MSA (down 0.8 percent), Duluth- Superior MSA (down 0.9 percent) and St. Cloud MSA (down 0.3 percent). Further information on the October employment figures and DEED WorkForce Centers is available at www.positivelyrninnesota.com or at 1-888-GET-JOBS. -30- Seasonall ad'usted Not seasona ll ad'usted Unemployment Rate October 2008 September 2008 Minnesota 6.0 % 5.9 U.S. 6.5 % 6.1 % Employment October 2008 September 2008 Oetober'07 October'08 Level Chan a October `07- October `08 Percent Chan e Minnesota 2,758,000 2,765,500 -16,400 -0.6 U.S. 136,899,000 137,139,000 -1,181,000 -0.8 Over-the-Year Em to went Growth b Indust Sector SA OTY Job Chan a OTY Growth Rate % U.S. OTY Growth Rate Total NonFarm Em to went -16,400 -0.6 -0.8 Natural Resource & Minin -100 -1.5 10.3 Construction -6,700 -5.2 -6.5 Manufacturin -9,200 -2.7 -3.8 Trade, Trans & Utilities -4,200 -0.8 -1.7 Information -1,300 -2.3 -1.6 Financial Activities 2,800 1.5 -1.5 Prof & Business Services -7,300 -2.2 -1.8 Ed & Health Services 7,100 1.6 2.8 Leisure & Hos italit -600 -0.2 -0.4 Other Services -1,200 -1.1 0.5 11 /20/2008 Page. 3 of 3 Government 1 4,300 ~ 1.0 ~ 0.9 Over-the-Year Em to meat Chan e b Metro olitan Statistical Area Metro olitan Statistical Area OTY Employment Chan e # NSA OTY Employment Chan e % NSA Minnea olis-St. Paul MN-WI MSA -14,600 -0.8 Duluth-Su erior MN -WI MSA -1,200 -0.9 Rochester MSA 600 0.6 St. Cloud MSA -300 -0.3 Far o-Moorhead ND -MN MSA 1,300 1.1 Grand Forks ND-MN MSA 600 1.0 Upon request, the information in this news release is available in an alternative format such as braille, large print, audiotape or computer disk. This message was sent to doison@ci:iakeviiie.mn.us by: Mf±l ~~~a...rtment...of ..pioyrr'...e...nt ~~o~omi!c C~e..v...eloy~sra~.est (Monte ha..nson@state.mn_._us) 332 Minnesota street Suite E20C1 St. Paul, MRI 55101-1351 « 800-65?-3858 Subscribe • Unsubscribre 11 /20/2008