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04-28-09
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 Adam Kienberger, Economic Development Specialist Date: April 24, 2009 Subject: April Director's Report The following is the Director's Report for April of 2009. Building Permit Report The City issued building permits through March with a total valuation of $16,740,776. This compares to a total of $12,797,777 in 2008. (It should be noted that the permit for the Metro Transit Park and Ride ramp along I-35 north of the Fleet Farm had a value of $8,243,000 which comprises almost 1h of the total valuation for the year) Included in this valuation were commercial and industrial permits with a total valuation through March of $788,500. This compares to a total commercial /industrial valuation of $541,000 for the same period in 2008. The City issued permits for 5 single family homes in March (Same as in January and February) with a total valuation of $1,282,000. This compares to 12 single family home permits in March of 2008 with a total valuation of $3,402,000. The City issued permits for 0 townhome and condo units in March which compares to 3 townhome and condo permits issued in March of 2008. State of the Citv The State of the City Address will be presented by Mayor Dahl and City Administrator Steve Mielke on April 28t" at the newly renovated and expanded Brackett's Crossing County Club.. An overview of the development highlights from 2008 will be presented along with the financial challenges currently- being faced by the City. Thank you to the EDC members that RSVP'd to Judi in the City Administrator's OfFce. Minnesota School of Business Minnesota School of Business has applied for a Conditional Use Permit to establish a business school at the former MW Johnson OfFce Building located at 17685 Juniper Path (which is across the street from Schneiderman's furniture). The Planning Commission is scheduled to have a public hearing to consider this request at their May 7th meeting. Minnesota School of Business plans to start offering classes in Lakeville this October and their long term plans anticipate a total future enrollment in Lakeville of up to 800 students. Having Minnesota School of Business in Lakeville will provide area residents the option of pursuing higher education locally. City Marketin4 Efforts Lakeville along with the cities of Rosemount and Burnsville have allocated resources to participate in a joint sponsorship with the Minnesota Dept. of Employment and Economic Development at the. upcoming Industrial Asset Management Council conference in Minneapolis this September. As a requirement of participating in this conference, the City collaborated with Rosemount and Burnsville on the printing of marketing brochures to be handed out at the conference. A copy of this brochure is attached. The City has also recently taken out an ad in the upcoming Minnesota Real Estate Journal "2009 Economic Development Directory." Both of these marketing efforts are being funded with Partners in Progress funds provided by Dakota Electric Association. Delay in Adoution of new State Building Code The State of Minnesota has recently notified cities and other units of local government that it will not be moving forward with the adoption of the 2009 editions of the International Residential Code, International Building Code, and International Fire Code. The State has indicated that "given the drastic slowdown of the construction economy, we feel it is not the appropriate time to be updating regulations." The State is indicating that they will attempt to have advisory committees ready to review the 2012 editions of these codes when become available. Development Update Representatives of Ace Hardware along with Mark Hotzler have filed a Conditional Use Permit and Preliminary and Final Plat. application to develop a new Ace Hardware store Downtown on the vacant lot south of the new Market Plaza and north of Main Street Manor. The Planning Commission is scheduled to have a public hearing to consider this request at their May 21~ meeting. This proposed 16,000 square foot store would replace the current Ace Hardware store Downtown. Richard Jackson, developer of the proposed Green Planet Car Wash is planning to start construction of this project to be located in Heritage Commons just north of Lake Marion Collision soon. The project was approved by the City Council last fall. This will be an automated tunnel type car wash and the developer has attempted to make this facility as environmentally friendly as possible (hence the name.) Foreclosure Update .Attached is the monthly update on foreclosures in Dakota County provided by the Dakota County CDA. There have been 5 Sheriff Sales as a result of foreclosures in Lakeville in March. This is down considerably from the 17 sheriff's sales in February and 19 sales in January. rn -, c .. a M ^3 ~- w ~ ~ ~, .~ ~ a~ ~ ~ ~ ~ w, .~ o ~ .~ ~ •~ a v bL ~ ~ ~, y i o tq ~~ U 8, W a z a w w °° o L7 ° ~-+ d ~ ~ a ~ [A M ~ ~ ~ ~ r-i O Cr M W W d C~"." c oo ~r o0 o v o c o o c o -~ c o o~ c c o c c o c o o c N o o o C~ [~ oo C a, C O .., C O C C O C O L C~ C~ O C C O ~n C C O O C O N~ O~ `'' C O .... O O M O C ... C E O ~. 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O O O O C C 0 0 O O vi C C - M N ~ O O O O O O O O O O C n X -II. ~ VJ y ^ ti ~ ti ~ ~ ~ ~ U ~ ~ ~ ^ ~ ~ ~ U 7 ~ ~ ~ ~_ ~ U ~ -~ U CL = .- W 'J `,4 ~^[ _ ~ 7 b^U v it ^ fL '- O ~- •- 7 is ,` c c1 :, cC O j ^, . = ' ~ ~ .. y C4 ^ 7 v N r%j ^J . ~ .~. .- ~ ~ _° ~ to ~, ~ ~ °' o '' ~~ U ;? °' ^_ o ~ ?• C ~_ .°? >, r ti ~ ;? = ~ ~ ~ ~ . ~ ~ v~ ¢ U U ~- . ] ~ ~ ~ ~r ~ a~ U Q ~ a ~ ~ rig ~ c E= ~ ~ ~ a. v~ c 4, ~ ~ a N i 0 0 ~~ 0 0 0 ~_ ~~ U ~ Dakota County '' Community Development Agency To: Dakota County Cities From: Dan Rogness, Director of Community Revitalization Date: April 17, 2009 Re: Foreclosure Update m - H(JMF ~~~1~~ A supplement to the April 2008 Foreclosures in Minnesota report was released at the end of February 2009. The supplement report was commissioned by the Greater Minnesota Housing Fund, Minnesota Housing, Family Housing Fund and the Minnesota Home Ownership Center. The following are some conclusions from the report: Foreclosure Counts Total in Minnesota = 26,268 (compared to 20,404 in 2007) Total in Metro = 17,268 (compared to 12,974 in 2007) Highest Number of Foreclosures by County # I .Hennepin County = 7,348 (compared to 5,56 I in 2007) #2. Ramsey County = 3,027 (compared to 2,352 in 2007). #3. Anoka County = 2,285 (compared to 1,680 in 2007) #4. Dakota County= 2,063 (compared to 1,610 in 2007) #5. Washington County = 1,257 (compared to 878 in-2007) Foreclosure Rates: Minnesota Average = 1.26% Metro Average = 1.54% Highest Minnesota Rate = 3.27% (Isanti County) Highest Metro Rate = 2.17% (Scott County) Dakota County = 1.37% (ranked 15 of 87 counties) Note: Foreclosure rates use 2007 Minnesota State Demographic Center household estimates. 2007-08 Percent Change:. Minnesota = 29% Metro Area = 33% Highest Minnesota Ranking = 567% (Mahnomen County) Highest Metro Ranking = 57% (Scott County) Dakota County = 28% Dakota County Community'Development Agency Dakota County Stats -March 2009 • # of Sheriff Sales in March - 84 (compared to 156 in March 2008) • Total Sheriff Sales for 2009 - 402 (compared to 552 Jan.-March, 2008) • # of Notices of Pendency Filed in March - 302 • Total .Notices of Pendency Filed for 2009 - 934 HOME 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. Mapping Using Dakota County GIS http://gis.co.dakota. m n.us/website/dakotanetgis/ The Dakota County Office of GIS is updating the 2009 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) 89 I -7081. 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: • A feature story about how real estate agents and homebuilders hope an $8,000 federal tax credit will encourage new homebuyers to purchase -jump-starting the flailing housing market. The credit is available only to people who haven't owned a home in the past three years, and it can be applied to purchases made by Nov. 30, 2009. • An article detailing the new Making Home Affordable Plan that was launched March 4. • Minnesota has improved its mortgage fraud rank -dropping to 14th in the country - after being in the top ten during each of the previous three years. • An article about the Dakota County CDA's Silver Lining Program, which was mentioned in last month's a-news. If you have any other concerns, please call me at (65 I) 675-4464 or send me an email at drognessCq~dakotacda.state.mn.us. v' ~ ~ ~ i ; ~- V ~ ~ '€€ ,, . ~. ~. a :~ c -. 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O~ OD M ~p M M M VI t3Q ~ ~~ s 3 j ~ 2 d •~ ~ _ ~ u, _ V as ~ c ~ ' ~ 2 c a a d ' ~ > ~' ' ~ c ~ ~ i (~ d7 - cC ~+ ~ O ++ H +,' I ~' V J ~ ~- > C L ~ •~ ~+ i - ~ c ~ d ~ ~ ~ H ~ ~ i Q m ao W ~ Y~. ~ = ~ = ~ J ~ ~ ~ N a~ ~ N ~' c 3 w L N N S L a+ ~ w ~ ~ T `~ ~~ n. ~ 'v Z 'c ago ~ a~ c ..0 0 N ~ Id t y f0 d ~ v ~ O L i ~ ~' L N N i ~ 7 N ~ ~ ~ V d O U t ~' ~.+ ~ L ~ U ~-+ ~ C ~ O ~ u ~ w ~ o o a C Id ~ U 7 0 o U etl o w -Y ~a LO o t „ +, `~ 3 N ^T ~ ~ ~ fCd .~ C ~ O c d ~ c~ _ ao ~ O "- ~ O cv u .~ ~Z N c~ O d ~ e~ ~ u ~ c w C ~ O ~ H ~ u Z '~ 0 Z H~ O L Z yr N v .~ Vf C u N C O U ~a ~ h L ~ N d ~O 3 "' O N E u 2 O N W Q Q fff U~ v ~ ~ o ~~ ~ ~ o ~° c 0 fC~ N_ C ~ 0 C N O O Chasing first-time homebuyers - TwinCities.com TwinCities~com Page l of 4 Chasing first-time homebuyers Real estate agents and homebuilders hope an $8,000 federal tax credit will encourage new homebuyers to bite, jump-starting the flailing housing market. While many are Booking, plenty are sitting on the sidelines, waiting for a bottom. i3y Christopher Snowbeck es nowbeck@pioneerpress.com dakdale residents Mandy Palank and fiance Jeff Thalhuber tour abank-owned home in Eagan on Monday. They liked the big yard, but the kitchen needs work. An $8,000 tax credit for homebuyers "is definitely a huge incentive," Palank said. (Ben Garvin, Pioneer Press} Filled with baby gear, a bathroom sink and other items thrown from the vacant home, the Dumpster in the driveway didn't add much curb appeal. The same could be said for the court order taped to the front door, which instructed the home's previous occupant to get out. But by today's standards, the split-level house for sale along Random Road in Eagan already was a hot property by the time Mandy Palank and her fiance took a tour on Monday. After just a few days on the market, the bank-owned house received offers from four potential buyers. Evidently, the property's low price of $115,000 helped people overlook the trash receptacle out front. Palank, 23, and Jeff Thalhuber, 22, won't be among those bidding on the home. But the Oakdale couple's visit to Random Road was an eye-opening start to a home-buying odyssey that they hope to complete before their October wedding. They're first-time homebuyers venturing forth at a time when countless economic indicators are pointing toward gloom. Palank and Thalhuber represent what some real estate agents and homebuilders say is one of the best chances for recovery in the embattled housing market. "Opportunity is knocking and, honestly, we're answering the door," Palank said. "We're not the only hope for the economy, but we're part of it." In the unfolding drama of the nation's troubled housing market, the role of first-time homebuyers has come into focus with the passage of a federal stimulus package in February that offers an $8,000 tax credit to those who buy homes this year. The credit is available only to people who haven't owned a home in the past three years, and it can be applied to purchases made by Nov. 30. The National Association of Realtors estimates that the measure could compel as many as 300,000 Advertisement http:!/www.twincities.com/ci 11807381 3/2/2009 Updated: 02!2812009 10:16:08 PM GST Chasing first-time homebuyers - TwinCities.com TwinCities•com Page 2 of 4 people to buy homes. .. ~ ~ . " ~ ~ ,~ r. ,: r Those purchases, Realtors say, would help fight the downward trend in sales of existing homes, which fell 5.3 percent in January to a seasonally adjusted annual rate of 4.5 million units. But others aren't so sure about the impact of the tax credit. First-time homebuyers -like alFwould-be purchasers nowadays -confront the challenge of deciding just when to buy, so they don't jump too quickly into a market where today's attractive prices may be even lower next week. Plus, housing economists question how many newcomers will find financing for a purchase, and whether they will feel confident enough to take on the debt. "The real question is: Are there going to be any borrowers?" asked Andres Carbacho-Burgos, a housing economist with Moody's Economy.com Palank and Thalhuber say they are willing to risk it. Spurred by the decline in home prices, low mortgage rates and a tax credit that won't be around forever, the couple embarked on their first home-shopping trip Monday, beginning at a bank-owned home in South St. Paul. As one couple .leaves, another arrives to tour abank- owned home at 3216 Random Road in Eagan, Minn., on Monday, February 24, 2009. "Opportunity is knocking and we're answering the doar," said 23-year-old Mandy Palank, right, who toured the house with her fiance Jeff Thalhuber, foreground. "This is the perfect time to buy a house." (Pioneer Press: Ben Garvin) As they descended into the home's basement, Paige Kahle of Edina Realty pointed out how the home had been "winterized" to prevent frozen pipes and other property damage in the unheated home. Any buyer would need to get water back into the house in order to do a proper inspection, Kahle said. That made sense to Thalhuber, who is a plumber by training. Cast-iron pipes like those in the 80-year- old home can corrode with time and spring leaks, he noted. Palank graduated from college in December with a degree in meteorology, and recently landed her first full-time job. That prompted the interest in buying a home. "We both. need to move out of our parents' homes," she said. After leaving the house in South St. Paul, Kahle drove the couple to the Eagan home along Random Road. It is one of 15 houses on the street, all built between the late 1950s and early 1970s. Advertisement ~rin€ P~vr~,~~cf B'~ ~- http://www.twincities.com/ci_ll 807381 3/2/2009 Chasing first-time homebuyers - TwinCities.com TwinCities~com Page 3 of 4 Located near Minnesota 55, the neighborhood was one of the first parts of Eagan to see residential development back in the 1950s, when home building tended to cluster along the community's major roadways to the Twin Cities, said Jon Hohenstein, the city's community development director. At that time, just 1,300 people lived in Eagan, about the same population as in 1880, Hohenstein said. But homes popped up along streets like Random Road, spurring decades of growth. Now,. Eagan's population is about 67,500. It's one of the southern suburbs that Palank and Thalhuber have targeted in their home search. And the Random Road home offered the couple many delights. "Huge yard!" Palank called out, while peering from a bedroom window at the home's nearly half-acre lot. "Just huge!" With Thalhuber's plumbing skills -and his father's interest in helping rehab ahome -the couple was immediately drawn by the potential they saw for improving the house. The first job would be a new kitchen, including paint, countertops and possibly appliances, Palank said. But other fix-up opportunities -such as a "claustrophobic" toilet in the basement -seemed less exciting. And on balance, Palank said she was surprised to see that $115,000 wouldn't buy a home in better condition. "We have a totally different picture of the type of house we would like, versus the type of house we can afford," she said. "We wish we could pop right into a $225,000 house, and have everything completely done and looking gorgeous. But in reality, that's not what it's going to be." Even with that observation, Palank quickly returned to a more positive tone. She still thinks the couple will be able to buy a home with monthly payments that are comparable to what they would pay in rent. And, as a woman who tried on 59 bridal dresses before making a final decision, Palank said she welcomed the chance to keep looking for the best deal. She pointed out that the $8,000 tax credit would make it easier to pay for improvements. "That's definitely a huge incentive," Palank said. "You get a house, and then you get $8,000." That's the sort of reaction that Realtors are banking on. They're also hoping that buyers will decide it's better to buy now and lock in current price declines, rather than wait for prices to drop further and risk missing the market's bottom. To the extent that first-time homebuyers purchase vacant properties, they will help clear the inventory of foreclosed homes that are serving as a drag on median sale prices, wrote Danielle Hale, an economist for the National Association of Realtors, in a February report on the tax credit. Currently, there's no shortage of such properties - homes in foreclosure or subject to a short sale accounted for one-third of all listings in the 13- county metro area as of Feb. 9, according to the Minneapolis Area Association of Realtors. The housing industry is hoping that as the tax credit turns lookers into first-time homebuyers, it will create a ripple effect. After all, sellers will need someplace to live as well. The hope is they will turn around and make home purchases of their own, further stimulating the market. Advertisement http://www.twincities.com/ci 11807381 3/2/2009 Chasing first-time homebuyers -TwinCities.com TwinCities.com Page 4 of 4 "They're golden as clients right now," said Ross Kaplan, an agent with Edina Realty in Minneapolis, of first-time homebuyers. "They're the strongest part of this market right now." Despite all the enthusiasm, Patrick Newport, an economist with IHS Global Insight, said he had doubts about the potential impact from a surge in first-time homebuyers. They likely won't make a huge difference, Newport said, because some potential buyers will have trouble obtaining a mortgage, while others will find the savings they need for a down payment depleted by troubles in the stock market. "My sense is that it's a good idea," Newport said of the tax credit. "But I don't think it's going to make a big dent in the problems that we have right now with housing." Carbacho-Burgos, the economist with Moody's Economy.com ., said he believed government support for Fannie Mae and Freddie Mac -the home mortgage giants -would make financing relatively easy for qualified buyers. But he thought many newcomers likely would stay on the sidelines in the short term, both because of uncertainties about their income and projections for the housing market. Moody's Economy.com .projects that home prices nationally have another 10 percent or 12 percent to drop before reaching a bottom at the end of this year or early next year. So, for the purchaser of a $160,000 home today, an $8,000 tax credit might offset only half of the expected decline in value, Carbacho-Burgos said. "My personal feeling is that the tax credit might have an effect further down the line - six or seven months from now -once the housing market starts showing the first signs of recovery," he said. "They need to see at least some tangible sign that prices in the housing market are going to bottom out soon." Christopher Snowbeck can be reached at 651-228- 5479. Advertisement print €~-~~rarPci F3~~ .. t:. ~-- . http://www.twincities.com/ci 11807381 3/2/2009 Administration unveils details of housing plan -Mortgage Mess Page 1 of 2 ~~~. MSNBC.com Administration unveils details of housing plan Program designed to help up to 9 million borrowers stay in their homes msnbc.cam staff and news service reports updated 11:32 a.m. CT, Wed., March. 4, 2009 NEW YORK -Seeking to stem the housing market`s downward spiral, the Obama administration released guidelines Wednesday for a plan that would pay lenders to refinance or lower monthly payments on mortgages for homeowners who qualify. The Treasury Department said it expects the plan to help up to 9 million Americans stay in their homes. The slump in home prices that began more than a year ago has led to massive foreclosures. across the nation and is the root cause of the worst economic crisis since the Great Depression. `~It is imperative that we continue to move with speed to help make housing more affordable and help arrest the damaging spiral in our housing markets," Treasury Secretary Timothy Geithner said in a statement. For borrowers who qualify for the $75 billion loan modification program, first announced on Feb. 18, their interest rates could drop as low as 2 percent or their loan could be extended for as much as 40 years. If necessary, the lender has the option to forbear principal, one of the thorniest problems for many homeowners who owe more than their home is worth. Some mortgages servicers have also been reluctant to modify loans in markets where home prices are falling because the future value of the home may not cover the refinanced loan. The program aims to reduce monthly payments to no more than 31 percent of a borrower's gross monthly income. In order to qualify for financial incentives of as much as $4,500 to modify a loan, mortgage servicers will have to agree to follow strict guidelines established by the Treasury Dept. Struggling homeowners will also have to leap several hurdles to pass the "Making Home Affordable" initiative's test. They will have to provide their most recent tax return and two pay stubs, plus an "affidavit of financial hardship." The program runs through 2012. Borrowers are only allowed to have their loans modified once, and the program only applies to first-lien loans .made on Jan. 1, 2009 or earlier. Up to 4 million borrowers are expected to qualify. Mortgages for single-family properties that are worth more than $729,750 are excluded. Separately, up to 5 million borrowers who have mortgages held by government controlled mortgage finance giants Fannie Mae and Freddie Mac should be eligible to refinance through June 2010. Treasury officials said Wednesday they are still ironing out key details. One involves a major sticking point for many servicers who have tried to modify mortgages to more affordable terms: how to handle the millions of homeowners with second mortgages or home equity loans. Lenders who issued those second liens typically suffer the biggest losses when primary mortgages are modified, so winning their approval for to modify loan terms has been difficult. The Treasury is working on a plan to let primary mortgage servicers compensate second lien holders, but those details have not been worked out. The plan also offers no safe harbor' provision to shield mortgage servicers from lawsuits by investors holding the securities backed by a loan being modified. By making the mortgage more affordable, those investors have to accept a lower return. Though standardized guidelines will clearly streamline a process that has overwhelmed many servicers, those who have declined to modify mortgages based on contract language may still face legal liability. Treasury officials also said the program will be available only to "responsible' homeowners who didn't buy more house than they could afford. But it was unclear how that criteria would be determined. Meanwhile action to put in place another part of Obama's housing plan is expected soon on Capitol Hill. http://www.msnbc.msn.com/id/29508039/print/1/displaymode/1098/ 3/4/2009 Administration unveils details of housing plan -Mortgage Mess Page 2 of 2 House Democrats, under pressure from a group of moderates in their ranks and the banking lobby, agreed Tuesday to narrow legislation that gives bankruptcy judges the power to force lenders to lower the mortgage interest rate or principal balance. Under the terms of the agreement, judges would have to consider whether a homeowner had been offered a reasonable deal by the bank to rework his or her home loan before seeking help in bankruptcy court. Borrowers also would have a responsibility to prove that they tried to modify their mortgages. The compromise legislation was expected to come to a vote in the House as early as Thursday. Investors got a bit of good news from the housing industry Wednesday, as homebuilder Toll Brothers Inc. said its loss in the fiscal first quarter narrowed as it slashed expenses. Still, revenue plummeted 51 percent as the company sold fewer homes. More on housing ~ the economy The Associated Press contributed. to this report. URL: httpJl~~~.snbc.msn.com%id129508039/ 1V1SN Privacy .Legal © 2009 MSNBC.com http://www.msnbc.msn.com/id/29508039/print/ 1 /displaymode/ 1098/ 3/4/2009 Minnesota improves mortgage fraud rank - TwinCities.com TwinCities•com Page 1 of 2 11n'rlrlasOfa li'Y1~1r®V@:? vrtage fraud rank Fewer cases than expected 6n 2008 By Christopher Snowbeck cs nowbeck~pfoneerpress.com Posted: 03120/2009 12:01:00 AM CDT Minnesota dropped to 14th in the country for reported incidents of mortgage fraud in 2008 - an improvement over the state's showing among the top 10 during each of the previous three years. The ranking comes from an annual report by the Mortgage Asset Research Institute, a Virginia group that takes information from loan originators to assess the state of residential mortgage fraud. in the U.S. This year's report doesn't provide counts for the absolute number of fraud reports by state. Instead, it generates a score for each state that represents the volume of fraud cases compared with what might be expected given the state's volume of loans. By that measure, Minnesota had fewer fraud cases than expected during 2008. Between 2005 and 2007, the state saw as much as 54 percent more fraud than would be expected considering the number of loans. "I think Minnesota is doing a betterjob relative to other states," said Jennifer Butts, director of operations for the Mortgage Asset Research Institute, in an interview. "Regulators are paying attention." Nationally, the research institute found reported incidents of mortgage fraud were at an all-time high in 2008, up 26 percent from the previous year. The spike was attributed to a tough economy. Foremost among emerging frauds is a scheme in which perpetrators pose as experts who say they can help prevent a foreclosure. Rather than helping, the scammers either don't follow through with promises, or manipulate homeowners into deeding the property to them, according to the report. Ed Nelson, a spokesman for the Minnesota Home Ownership Center in St. Paul, said variations of that scheme have cropped up here, too. Groups claiming to offer "foreclosure rescue" services, Nelson said, will offer to work as an intermediary between. a homeowner and a lender for fees that can range from $300 to $3,000. But consumers should know they can access a network of nonprofit counselors that provide free help, as well as access to programs that commercial entities can't provide, Nelson said. "Even if (the commercial entities) do provide the service they promise -which is questionable - there is no reason that homeowners who already are having difficulty making payments should have to pay a dime for these services," Nelson said. In some cases, he said, the fraudulent service providers are the same predatory loan officers and agents that sold homeowners dangerous or unaffordable loans in the past few years. For information about free foreclosure prevention services, contact the Minnesota Home Ownership Center at 866-462-6466. Christopher Snowbeck can be reached at 651-228- 5479. Advertisement :'Yliii ~'Cit~'~'°"'~U~ l __ http://www.twincities.com/business/ci 11954020 3/20/2009 ThisweekLive-Thisweek Newspapers/Dakota Co. Tribune -County CDA offers loan ince... Page 1 of 2 County CDA offers loan incentive to purchase foreclosed homes Thursday, 05 March 2009 No-interest, deferred loans of up to $15,000 now available by John Lessner Thisweek Newspapers Homebuyers are being offered a new incentive to purchase foreclosed properties in Dakota County. The county's Community Development Agency is offering no-interest, deferred loans of up to $15,000 to qualifying buyers of bank-owned single-family homes, duplexes, townhomes and condominiums. Using federal funds, the CDA hopes to assist 30 to 35 buyers through its Silver Lining Loan Program, which was announced this week. More buyers may be helped if loan amounts are smaller than $15,000. The loans can be used for up to half of the required downpayment, payment of normal closing costs or buy-down of the original. mortgage principal. The loans won't come due until the buyer sells the home. "Even if you're there for 40 years," CDA Executive Director Mark Ulfers said. The CDA is dedicating $525,000 for the program from its $2.77 million share of the U.S. Department of Housing and Urban Development's Neighborhood Stabilization Program. That $4 billion program, aimed at helping local agencies acquire and redevelop foreclosed properties, was announced last September. The CDA has already used some of its share to buy two foreclosed homes -one in West St. Paul and one in Farmington -that it will demolish. It has offers out on six more demolition candidates. While that effort is also aimed at removing eyesores, both the demolition and loan programs are intended to help strengthen the crippled housing market. There were 2,063 Dakota County homes sold in sheriffs sales last year, according to the CDA. "If some of these bank-owned properties are off the market, we can start to get the balance of supply and demand more in sync," Ulfers said. "What the realtors are telling us is, ideally, you want about five months of supply in the market. Right now, in Dakota County, we've got about eight months of supply. And that's a little misleading, because a lot of people aren't even listing homes because the situation is so bad." Eligible areas of the county vary from city to city. Mendota Heights, Mendota, Lilydale, and townships are ineligible. http://www.thisweeklive.com/index2.php?option=com content&task=view&id=7289&po... 3/10/2009 ThisweekLive-Thisweek Newspapers/Dakota Co. Tribune -County CDA offers loan ince... Page 2 of 2 To receive the federal housing funds, the CDA had to map out "areas of greatest need" based on such factors as foreclosure rates and concentrations of subprime mortgages, said Dan Rogness, the agency's director of community revitalization. Areas of need "do include areas of Apple Valley and Farmington and Burnsville and Lakeville," Ulfers said. "There's really no community that hasn't been impacted by this significantly." In Apple Valley, all areas of the city are eligible except for a small northeastern corner. All of Burnsville is eligible except around Crystal Lake. Most of Eagan and Rosemount aren't eligible. All of Farmington is. "HUD (Housing and Urban Development) would not allow it to be just all-inclusive across the county," Ulfers said. For first-time buyers, the deferred CDA loan on top of the newly approved $8,000 tax credit in the federal stimulus package may offer a real bargain, Ulfers said. "If there's ever a time to buy a house if you're afirst-time buyer, this is going to be the time," he said. "You have so many things going for you. Home prices have dropped a ton. You still have very competitive, lower-interest mortgages. And. you've got incentives like this tax credit and Silver Lining-type programs out there." To be eligible, a home's .purchase price cannot exceed $256,080. The purchase price cannot exceed 85 percent of appraised value. Borrowers are subject to income limits. For example, a household of three can earn no more than $87,350 a year. Borrowers must qualify for a traditional, fixed-rate first mortgage loan (A- rated or prime) or be purchasing a home outright. The loans are available through participating mortgage lenders. For a list of lenders or more information about the Silver Lining Loan Program, visit www.dakotacda.org/homebuyers.htm or call the CDA at (651) 675-4466. John Lessner is at burnsville.thisweek a~ecm-inc.com. Comments (0) _ Write comment Close Window http://www.thisweeklive.com/index2.php?option=com content&task~iew&id=7289&po... 3/10/2009 Page 1 of 3 Olson, David From: MN Department of Employment & Economic Development [StateOfMinnesota@ngwmail.des.state.mn.us] Sent: Friday, April 17, 2009 12:24 PM To: Olson, David Subject: DEED Stimulus Funding- If you cannot read this ~~ I ~ 1i ['r;; i. i~rj ~~. Sflll ~ U,'~ti.,. i' • ~ ~ I ,. For Immediate Release Contact: Kirsten Morell, b51-259-7161 April 17, 2009 Kirsten.Morell(a~state.mn.us DEED Puts Federal Stimulus Dollars to Work Stimulus Funds Help Job Seekers and Communities ST. PAUL -Gov. Tim Pawlenty has signed legislation authorizing the spending of $237 million in federal stimulus dollars for the state's Unemployment Insurance Program and the Public Facilities Authority, which provides funding to communities to upgrade their water and sewer infrastructures. The Minnesota Department of Employment and Economic Development (DEED) plans to put the money to work immediately. In addition, DEED has released more than $50 million in other stimulus funds received under the American Recovery and Reinvestment Act of 2009. "We are moving quickly to put people back to work and reinvigorate the economy," said DEED Commissioner Dan McElroy. "Our main priority is to help communities and job seekers throughout the state." The funding will be spent primarily on unemployment benefits, community development activity, and employment and training programs that will help Minnesotans gain new job skills and return to the workforce. DEED will apply the funding to existing programs with a goal of significantly expanding services from current levels. The funding must be spent under existing federal rules and meet job- tracking, transparency and accountability requirements. Most of the funding for programs and services that help workers, such as WorkForce Center activities or the Dislocated Worker Program, will be distributed statewide through local Workforce Service 04/17/2009 Page 2 of 3 Areas and Workforce Investment Boards. To date, funding has been allocated in the following areas: • Unemployment Insurance Program, $130 million: Funding will go into the state's Unemployment Insurance Trust Fund, which pays weekly. benefits to people who have lost their jobs. The federal stimulus funds also support the payment of other unemployment insurance benefits. DEED has implemented a $25 supplemental payment to all unemployment insurance recipients, which is expected to pay out $180 million this year. The stimulus package extends federal Emergency Unemployment Compensation benefits through the end of the year, providing an additional $390 million in benefits. The stimulus funds will also pay for all of the state extended benefits, which are typically paid half by the state and half by the federal government. • Public Facilities Authority, $107 million: Funding will provide low-interest loans and grants for clean water and drinking water infrastructure projects in Minnesota .Twenty percent of the funding will be set aside for green infrastructure, energy and water-efficiency improvements, and. other environmentally innovative projects. Funding will be awarded on a first-come, first- serve basis. Local units of government must submit proposals by May 1, 2009. • Dislocated Worker Program, $21 million: People who have lost jobs through no fault of their own will receive help returning to the workforce. Career planning and counseling, job search and placement services, training and other support services will be available. Additional staff will be hired for Rapid Response Teams, which work with employers and workers on-site when a company announces major layoffs. • Summer youth employment program, $17.8 million: The funding will pay for summer jobs in both the public and private sectors for at-risk youth. They. will receive work-readiness certificates upon successful completion of the program. • WorkForce Center activities, $6.9 million: Plans include hiring additional staff to work at the agency's Minnesota WorkForce Centers for the next 18 months. Those positions will provide direct services to people who are receiving unemployment insurance benefits and are actively looking for work. Expanded services for employers and upgrades to the WorkForce Center system are also planned. • Adult employment and training, $6.9 million: The program is designed to help people facing barriers to employment move from low-income jobs to middle-income work, with a heavy emphasis on training. Services include skills assessments, job training and job-search guidance. Funding has been allocated to the 16 Workforce Service Areas; most services will be provided through the state's 47 WorkForce Centers. • Small Cities Development Program, $5.6 million: Communities will be receiving funding for housing, infrastructure and other economic development activity. • Senior Community Service Employment Program, $543,700: The program provides part- D4/17/2009 Page 3 of 3 time community service assignments for people 55 or older who have earnings of less than 125 percent of federal poverty income guidelines. -30- 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 dalson@ci.iakeville.mn.us by: N1N Department of_ Em_plo~_yment & Economic Dev_el~ent (monte....ha_n...son@state.mn.us) 332 Minnesota Street Suite E200 St. Paui, MN 55101-1351 + 800-657-3858 Subscribe • Unsubscribe 04/17/2009 Page 1 of 3 Olson, David From: MN Department of Employment & Economic Development [StateOfMinnesota@ngwmail.des.state.mn.us] Sent: Thursday, April 16, 2009 9:54 AM To: Olson, David Subject: March Employment If you cannot read this ~ tr ~ e ~ ~•C~.__ - ~_ ~_ For Immediate Release Contact: Kirsten Morell, 651-259-7161 April 16, 2009 Kirsten.Morell(~state.mn.us State Unemployment Rate 8.2 Percent in March Employers eliminate 23,200 jobs statewide ST. PAUL -The Minnesota unemployment rate edged up to a seasonally adjusted 8.2 percent in March, remaining below the U.S. rate of 8.5 percent, according to figures released today by the Minnesota Department of Employment and Economic Development (DEED). State employers eliminated 23,200 jobs in March, compared with the loss of 663,000 jobs nationwide during the month. Over the past year, job counts in both Minnesota and the nation have decreased 3.6 percent. "This is a broad-based recession that is affecting nearly every state and every sector of the economy," said DEED Commissioner Dan McElroy. "But we are seeing signs that the economy might be improving nationally, including increasing orders for manufactured goods in February, a slight uptick in consumer confidence in March and stronger sales for existing homes." In March, Minnesota added 200 jobs in the category comprising other services, which includes industries like repair and maintenance, religious and grant-making organizations, and barbershops and beauty salons. March job losses were posted in manufacturing (down 6,700), professional and business services (down 6,200), construction (down 3,700), leisure and hospitality (down 2,000), trade, transportation and utilities (down 1,900), financial activities (down 1,000), information (down 04/17/2009 Page 2 of 3 700), education and health services (down 700), government (down 300), and logging and mining (down 200). Over the past 12 months, education and health services gained 16,200 jobs in the state, while government added 2,100 positions. Year-over-year job losses have occurred in professional and business services (down 32,500), manufacturing (down 30,200), construction (down 20,600), trade, transportation and utilities (down 17,700), leisure and hospitality (down 11,400), other services (down 1,300), information (down 1,300), financial activities (down 1,100), and logging and mining (down 300). In the state's Metropolitan Statistical Areas, job losses occurred in the Minneapolis-St. Paul MSA (down 3.6 percent), Duluth-Superior MSA (down 2.7 percent), Rochester MSA (down 0.6 percent) and St. Cloud MSA (down 1.9 percent). Data for the Fargo-Moorhead MSA and the Grand Forks-East Grand Forks MSA will be available when the information is released in North Dakota . For additional information on the March employment information, please visit www.PositivelyMinnesota.com. Seasonall ad'usted Not seasona ll ad'usted Unemployment Rate March 2009 February 2009 Minnesota 8.2 8.0 U.S. 8.5 8.1 Employment March 2009 February 2009 March'08- March'09 Level Chan a March `08- March `09 Percent Chan e Minnesota 2,673,000 2,696,300 -98,100 -3.6 U.S. 133,019,000 133,682,000 -4,872,000 -3.6 Over The Year Em to ent Grow th B Indus Sector SA OTY Job Chan e OTY Growth Rate % U.S. OTY Growth Rate Total Non-Farm Em to ent -98,100 -3.6 -3.6 Lo in & Minin -300 -5.6 -0.7 Construction -20,600 -21.0 -13.3 Manufacturin -30,200 -9.1 -9.9 Trade, Trans. & Utilities -17,700 -3.4 -4.3 Information -1,300 -2.2 -3.7 Financial Activities -1,100 -0.6 -4.2 Prof. & Business Services -32,500 -10.0 -5.9 Ed. & Health Services 16,200 3.7 2.3 Leisure & Hos itali -11,400 -4.8 -2.6 Other Services -1,300 -1.2 -2.1 04/17/2009 Page 3 of 3 Government ~ 2,100 ~ 0.5 ~ 0.4 -Metro olitan Statistical Area OTY Employment Chan e # NSA OTY Employment Chan e % NSA Minnea olis-St. Paul MN-WI MSA -64,100 -3.6 Duluth-Su erior MN -WI MSA -3,600 -2.7 Rochester MSA -600 -0.6 St. Cloud MSA -2,000 -1.9 Mankato-North Mankato MSA Data available in 2010 Notes: • All labor force data are subject to revision. • The unemployment rate is the percentage of people actively seeking work compared with those in the labor force (employed plus unemployed). -30- 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 dolson~ci.iai<eviile.mn.us by: AR .N.. Depa_rtment_of E..m~l®~m_ent & Ecanamc Develapm........ent (m.o....nte,h. Anson..@statemn...us.) 332 Minnesota Street Suite E200 St: Paul, MN 55101-1351 • 800-657-3858 Subsci-ibe • Unsubscriibe 04/17/2009 In Lakeville, putting the 'park' in parking lot StarTribune,com Page 1 of 2 ~_,, r r, m.startril~une.carr~ In Lakeville, putting the 'park' in parking lot Lakeville hopes Market Plaza can serve as a downtown event center in addition to providing parking spots for business customers. By DEAN SPIROS, Star Tribune Last update: April 1, 2009 - 12:07 AM Is a parking lot with a fashionable name still just a parking lot? Proponents of the continuing attempt to revitalize downtown Lakeville see Market Plaza as much more than that. When completed this spring, what once was a section of 208th Street that intersected with Holyoke Avenue will be a home for the St. Paul Farmers Market and a spot for vendors during the annual Pan-O-Prog Celebration in July. And more "We just see it as another asset for the downtown," said Judy Tschumper, executive director of the Downtown Lakeville Business Association. "We plan to use it as a site for other events, toa. "We have held concerts downtown, and now we can use the plaza. for those as well. We've recently talked to a local motorcycle business about possibly holding a'hog' rally downtown." While the site is basically a parking lot that will provide 40 additional parking spaces for customers of downtown businesses, the city has looked for ways to give it a park-like feel. Pervious pavers will be used in the parking stalls, which will allow rain and melted snow to seep into the ground below rather than run off. The center of the plaza will be paved with banded concrete,. giving it the look of a pedestrian walkway. Trees and ornamental lighting will complete the plaza. According to Community and Economic Development Director Dave Olson, the nearly $600,000 project, paid for by Dakota County grants, is scheduled to be completed by the end of May. The first farmers market is set for the middle of June. Mainstreet After Hours, a wine and dessert bar, and the Hockey Development Center (HDC) border the plaza to the north. The lot south of the plaza is vacant, but news of a future tenant could come within the next couple of weeks. The Downtown Lakeville Business Association, a nonprofit organization supporting the preservation and redevelopment of downtown Lakeville, has said it would like to see another restaurant added to the downtown mix. Downtown progress Advertisement ~~~ir,i '.~.n» ~':~z~ ~.y http://www.startribune.com/locaUsouth/42056592.htm1?e1r=KArks:DCiUocOaL nDaycU... 04/01/2009 In Lakeville, putting the 'park' in parking lot StarTribune.com Page 2 of 2 ti ~ rt~startritaune,cam ~'~i Recent additions and renovations to downtown include the conversion of a church into the Lakeville Area Arts center, the addition of a senior living facility and the refacing of a number of buildings. Varsity Sports opened downtown last 3uly. Co- owner Tam Kelly said "Where's that?" was a common reply when he told people about the store's location. But Kelly said business has been good and he expects it to get better as the area's visibility continues to grow. "We were drawn to this location primarily because of the HDC," Kelly said. "Hockey is our No. 1 sport. But we did our homework. I live in Savage, but I was familiar with this area and know a lot of people here." A similar store, Lakeville Athletics, is just a few blocks away in the Heritage Commons shopping complex. "There's room for both of us," Kelly said. In 2006, the city considered a proposal that included buying residential property between the downtown and Heritage Commons to create a commercial corridor. The idea never got much traction because of resistance in the. community. "The city has not been an advocate for buying up property to then turn around and sell it to developers," Olson said. Olson added, however, that the city is looking at ways to make travel between the two sites more pedestrian friendly. Dean Spiros • 9~2-882-9203 Advertisement http://www.startribune.com/locaUsouth/42056592.html?elr=KArks:DCiUocOaL_nDaycU... 04/01 /2009 Department of Pub#ic Safety - profecfing citizens and communifies Department of Labor and industry - a trusted resource ufifized by employees, employers and property owners :: ~: Febniary 23, 2009 To: Code Officials, Design Professionals and .Other Interested Parties Subject: 2009 International Code Adoptions The 2009 editions of the International Residential Code (IRC), Inteixianonal Building Code (IBC), and International. Fire Code (IFC} will be published loan and the Construction. Codes and Licensing Division and the State Fire Marshal Division have been discussing this adoption. Given the drastic slowdown of the construction economy, we feel it is not the appropriate time to be updating regulaxions. T'he economic based faetars include: • The availability of volunteers. for technical advisory committees, given cut backs iri code jurisdictions, among design professionals .and product suppliers. • The staff time involved by our state agencies for both the committee work and the rules process under the Administrative Procedures Act. • The cost of code books and reference materials for townships, cities, counties, state agency offices, design professionals and other industry members. The cost of training far builders, designers; cede officials and other industry members and the focus of the training on changes rather than other critical concepts. Based on the above criteria, we will not be moving forward with the adoption of the 2009 IRC, IBC ar IFC and will. strive to have our advisory committees and the state fire chief's code committee ready to review the 2012 editions of these codes. 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