HomeMy WebLinkAbout07-23-10J �- 6�
City of Lakeville
zj�n I 0i N �I
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: July 23, 2010
Subject: July Director's Report
Reminder: There is no July Meeting of the EDC.
The next meeting will be the Strategic Planning Work Session
scheduled for Thursday, August 19 at 1:00 p.m. in City Hall
The following is the Director's Report for July 2010.
Recommended Amendments to Business Assistance Policy
The City Council will be considering the EDC's recommendations regarding an
amended Business Assistance Policy at their July 28 Work Session. Attached
please find a copy of the memo that went to the City Council on this issue. Jack,
Gary and Sheila will be representing the EDC at this meeting.
Building Permit Report
The City issued building permits with a total valuation of $28,629,907 through the
end of June. This compares to a total valuation of $34,278,981 during the same
period last year. The City total valuation of commercial and industrial permits
through June was $1,402,000 which compares to $3,045,500 through June of last
year.
The City also issued permits for 76 single family homes through June with a total
valuation of $20,172,000. This compares to permits for 54 single family homes with
a total valuation of $14,832,000 through June of last year.
Development Updates
The Planning Commission at their July 22 meeting recommended approval of an
Interim Use Permit for Pizza Ranch to go into the small multi- tenant building owned
by HOM Furniture located in front of the store on Kenyon Avenue. Pizza Ranch will
occupy 6400 square feet and Hirshfield's is an existing tenant that will occupy the
remaining portion of the building. An interim use permit was required because Pizza
Ranch will be utilizing a portion of the HOM Furniture store parking lot to meet their
,parking needs.
Lakeville Rental Market Survey
Questions were raised at the last EDC meeting regarding rental vacancy rates in
Lakeville. Every year the Dakota County CDA conducts a rental market survey for all
of the cities in Dakota County. Attached are the results for Lakeville from the 2010
survey. Some of the more significant survey findings were:
O The overall vacancy rate for Lakeville in 2010 is 4.56% which is down from
6.49% in 2009.
O Lakeville's overall average rent decreased 1.5% in 2010.
O Lakeville accounts for 2.98% of the rental market in Dakota County.
17 The average rent for two- bedroom apartment is $968
Information on the rental markets in other cities in Dakota County is available on the
Dakota County CDA website.
Foreclosure Update
Attached is the monthly foreclosure summary for Dakota County as provided by the
Dakota County CDA. There were a total of 25 Sheriff Sales in Lakeville in June.
Foreclosure rates are up compared to the same period last year. There have been a
total of 168 Sheriff's Sales in Lakeville through June of this year compared to 106
during the first six months last year and 139 for the first six months in 2008.
City Inspection staff are currently monitoring approximately 80 vacant and /or
damaged homes in Lakeville.
Resident and Business Surveys
The firm of Decision Resources recently completed conducting a survey of Lakeville
residents and a separate survey of Lakeville businesses. Preliminary results from
both surveys were presented to the City Council at their June 28 Work Session.
Attached is the summary of the preliminary results for the business portion of the
survey that was presented. The final report will be presented to the City Council in
August. The final report will be presented to the EDC at the September meeting.
a a
sv ^•
G
C 0 CD N 0 o o , w CD as CD c, a 0 w o O o c ^o
co
o oo cD cD 7c a o y m B 9 co
7 L.
v, Q1 ,• A
M
O O N d "'y cD O v, '� O 7 O `�' >c CD N 0 (D
ao
t I
a c d :n ° a° c
CD
CD a
:V a ' .'r
O (IQ "C7 CD i O CD O< d a E
00 CD
iD
(
r
y G
m 0 r
y CD a s °.CD a� dCD
CD aa�
O
"
�•
a a c
-
CD ^
CD
1 V
�.
f7
�
y
CD
� a
p
I A
C C O
N
O A D, N 00 O O w O 0 0 0 0 w O N N C
w
O
�] O 00 00 T D\ �--� N � O �' V1
V1
A A �O (.A J A N N A A C O1 �c v W Vi
�
O O Cn
0 0 0
w
N
o 00 �O �o c.n �O 0 0 0 0 0 C O w 0 Cn oo A O O A 0 D,
O C i.A to C cA C C C N) -.1 O O C O O N O ( - A c.n N 0 vi O -1 O C tJ C --1
oil
O O O
QA
O O O C O O O C o Cn CA O O O O O Cn O O C Vi 0 0 0 QA O C c.n O CA
N
O
N+
z
00
w C� 00 N cn O O O
C'
O
O O O O
0 0 0
w
O D\ O O O O O
o 0 0 0 0� o 0 0 0 0 0 0 0 0 o O 0 0 0 o
PO
0 0 0
0 0 0
0
o
0 C 0 0 0 0 0 Cc 0 C 0 0 0 0 0 0 0 C 0 C 0 0
C o 0 0 0 0 0 0 C o o C O C o 0 0 o C 0 C C C C C o 0 0 o C
►�
`C
z
r
z
w
ffl
00
O O O
�O
O O O O O O O O O O O O O O O O O O O? C O N O O O 0 O J
,
O 0 C
J
C O O C O O O O O O O O O O p O 0 0 0 w 0 0 cA O oo O O C C o0
O O O
O O C C O C C O C C O C D C O C C O C C O O w O O M O �O o o N O �O
OA
O O w
�-' W O �-' 00 00 N N 0 0 0 0 �-• A N O O w w O N w w C A N 0
A N N �O W 00
O co
O O oo
J
N w W A N C� vi O A O W oo �O w uD cn w
lD 00 O �D �'- Vi �D a\ O� O O O� O D\ O O J �- O r A O O N C
heJ
i
0 o t
A
C.n c.n C CA O O O to O cA to o N O o 0 --1 O O N �l o N 0 [J -1 O �O w 0
CrJ
O O O
N
C O O C O O O C O C C C cr O O O t.n C O cn a\ O c.n O LA O O O O
Cr1
r
O
C
O
r
00
W `-+ n-• lA --1 A
O
W
v C, �c 00 w 00 o
t .
a
N
N w w -- N O r-'• O W N O N CA V D o0
�O
-1 O O O C CA i.n O O O O O O O
O O O
O
O
vA C A C O O C O O O O O O C O
O O O O 00 C N O O O O O O C C C C C C C O C O O O C
N
z
5:15D 5:15D
O
O O O
O
0 0 0 0 0 0 0 C C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0
Z
CD
b
�
a
N
_
z
N
tr N N
►�
�
J O N w w
A
O O O
0 0 0
oo
00
O O O O O w 0 0 0 0 cn 0 0 0 0 0 0 0 0 D, O
C C n C C C C �O C C O C 0 0 0 0 0 0 0 0 v C C C O c W C O
t7l
N
O O O
�O
0 O 0 0 C A O O 0 0 O C 0 0 C C C 0 0 O 0 0 ',O 1�0 C c.n 0 0
�,
O_
O C C C C O C
x n 0 z n a a
CA
cn r '17 oil y �
.0 C
CA
C H cn cn cn � v� cn � cn � z 0 0 0� r r � t x
N O -
O A�
x p 'z1 27 - v n n
❑
N A� P " O C; CL f7
C N ►�
G
Q
y n ^., C: fD
O .�-. ^
O
C
a'
❑ F . O
. cio n n N < z "^ y
0. � CD b a <, '<, N H ti M 7 ...
O A- n . O O
.�,. N '3
°Q
b ic m o 7� A
o
a w B
o
c w^ '� `° m v� a c �°^ b a CD
° o c
S.
b °� n m
5' x C "n 2 n'
:�
cct 5�c S, n
G
LA O\ U .+ 00
U U w w
CL
C O �O �O O O O O J O �- C 00 �c O O C �O C �c C O w 00 .
C U C U U O C
°
w C C C
s ; y
. . . . . . . . . . . . . . . . . .
O O U C c N 6 C C C U U C U U C C C C C O C C O C C C U
c k
W
�. o n m
CD
e e
O O O C O U O O C O O O O C O O O O C O 0 0 0 0 0 0 0 0
0 a k
^ OQ
�•
A
o
A
c `°
^
cr
_
00
fD
U C r
W
w O
N
U 00 �O O
r�
U
L
C
a
O O O C O O O O C O O U O w O 0 0 0 C O 0 0 0 0 0 C O C
O C C O O O C
C y
C C C C C
C
O O C C C C C C C C C C C C O C C C C O C O C 0 0 0 0 0
O C C O C O C
C
o y
O
C
C C C C C C C
C
O O pp O
y �
O O O C C O C C O C O C O O O C O O C O O O O O C O O O
C C C C C C C
a
C C C C C
O
cn
0 0 O 0 0 0 0
0
C C C C C
0
0 0 O C 0 O O 0 C O O 0 0 C 0 O 0 0 C O 0 0 C 0 C C 0
c
V)
W U 0 A ao
w
O C O O w
v
N O w 0 0 0 C A �O -1 — 00 O O C O N
0
DO
+ N
.-. r-• 00 OO
W
W
A
�+ r-. Vl D\
W W CT U
w A J
Do U J Q\ N
ao v O 00 O �° I � O
U
C C C CC
oo �O C C O �° C w C �- C O C O C C C
O C
C U
N
. . .
C C O O N
.
D\
. . . . . . . . . . . . . . . . . . . . .
O C U U O C O U C O D U U C O O O O C C C
. . . . . . .
C C (71 U O N w
O C O O
00
O C O O 00
A
O C C C C C O O C O O O O C O O O O C C C
C C C O C A O
A W
N
N
W
00 A
W U N O
A
A
VO
W O\ J
W A �D O
D1
00
00 U
U A �D
_N
O O N �-
W
W
W
i-• J
O O N W
�O C O U
C C C O
D\
C O C C C O C O C C Cl U O C O O O O C O O
O C O C
C C C C C C C
C
Coco C
O
O C C C C C C C C C C O C C C O C C C C C
C C C C C O C
O O C O O O C
O
O C O O C
O
O O O C O O O O C O O O O C O O O O C C O
O O O O O C C
O C C C C O C
I C
I S C S S C
I C
I C C C C C C C C C C
C C C C C C C C C C C C C C C C C S
w
O w 00 oD C
oo
— C O O
O O — N O— O O C O\ �O J O w .-• O O O N O N O O A A O A �--
Q�
A
LA O\ U .+ 00
U U w w
C O �O �O O O O O J O �- C 00 �c O O C �O C �c C O w 00 .
C U C U U O C
U
w C C C
-
. . . . . . . . . . . . . . . . . .
O O U C c N 6 C C C U U C U U C C C C C O C C O C C C U
0 0 0 0 0 0 0
W
U 00 C O O oo
U
O O O C O U O O C O O O O C O O O O C O 0 0 0 0 0 0 0 0
A
A
N
A
W
_
00
U C r
W
w O
N
U 00 �O O
O O O C O A C
U
U C 0 0 0
0o
O O O C O O O O C O O U O w O 0 0 0 C O 0 0 0 0 0 C O C
O C C O O O C
O
C C C C C
C
O O C C C C C C C C C C C C O C C C C O C O C 0 0 0 0 0
O C C O C O C
C
C C C C C
O
O O O C C O C O C C O C O C O O O O C C C C C O C O 0 0
C C C C C C C
C
O O pp O
O
O O O C C O C C O C O C O O O C O O C O O O O O C O O O
C C C C C C C
C
C C C C C
O
O O O C O O O O C O O O O C O O O O C O O C O O C 0 0
S
0 0 O 0 0 0 0
0
C C C C C
0
0 0 O C 0 O O 0 C O O 0 0 C 0 O 0 0 C O 0 0 C 0 C C 0
a � ? c . A C
o y vo o_ o 0 o n r, �, r . o ? o r A 5
cc A r. o '. o cc Re r.
Ar n Ar < w w :: p Cn n CD n = Ln m 'v , yr C CD
m n n m o o" E v� o o o o a
CD
w CD CD O
, r w
F
CD y a
w CD
x
CD
to �O D w w 0 W J , N C �� O A w cn �- O O O��� N A cn w
O 4, w O � A N 0 w O O
:pl 0C i
J LA .-+ r+ W W A N a \O D\ Vi Q\ N C\ 00 A
O 00 N O CA A LIN C.A O O w 00 J w 00 w .-' A N f �1
O O O O C vi cn O O O O oo O O O �O -
�c O �c l J O N w 0 0o
. . . . . . . . . . . . . . . .
O O J C O J O O O O 00 O O O cn cA O 00 N cn O O (.A O Cn Cn N C O O O O O( /A
O O O 'A C O cn O O O O —1 O O O Cl C O O O C\ C O O O O O O
N N Cn A ao �
CA tli W W �O C
C� C� LA w
N O O O O D\ C O CA O O O O O
C C C L O C O O 0 0 O O O O C O 0 0 O O C C C O O O O O C O C C 0 0 0
O O O C O O O O O O O O O O C O O O O 0 0 O C O O O O C O O 0 0 0 0 0
O O
O O
to to
W
O O
O O
OI
O
O
O
O O
O O
O �-
O O
O O
O
O
C�
t
O
C
O
O O
O O
O Q\
A
O O
O O
OI O O IOI C O O O IOI 0 0 I,
O C O O O
O C O O O
N
O C 0 0 0
N
Ul
O
O
O C 0 0 0
O C O O O
O C O O O
0 0 0 0 0 0 0 0 0 0
O C O C O O C O C O
O O O C O O O O C O
c�ii O N O D W W C 00
O C LA C O cn O w Ct.A
O O O C O O O O C O
?
00 O D W
00 O C O v O
O C O C O O O O C C
O O O C O O O O C O
C
LA
J
A
W
W
O
O
w
O
O
OI O O IOI C O O O IOI 0 0 IOI O O O C O O O IOI O O O C O O O O O O
O
C CC cc
C O O O O
N
000\0
C O O vi
C O O O O
O
A
Do
J
w
W
is
O
J
OD
J
ao
O
;0 LA
A J
C
C O O O ?
0 0 0 0 0
O
O
O
C 0 0 0 0
C O O C C
C 0 0 0 0
y r
ro y
ro v
v, b b r d (7 v
v� °
° w o o a a e
e x
x C
CD
O O
O O
to to
W
O O
O O
OI
O
O
O
O O
O O
O �-
O O
O O
O
O
C�
t
O
C
O
O O
O O
O Q\
A
O O
O O
OI O O IOI C O O O IOI 0 0 I,
O C O O O
O C O O O
N
O C 0 0 0
N
Ul
O
O
O C 0 0 0
O C O O O
O C O O O
0 0 0 0 0 0 0 0 0 0
O C O C O O C O C O
O O O C O O O O C O
c�ii O N O D W W C 00
O C LA C O cn O w Ct.A
O O O C O O O O C O
?
00 O D W
00 O C O v O
O C O C O O O O C C
O O O C O O O O C O
C
LA
J
A
W
W
O
O
w
O
O
OI O O IOI C O O O IOI 0 0 IOI O O O C O O O IOI O O O C O O O O O O
O
C CC cc
C O O O O
N
000\0
C O O vi
C O O O O
O
A
Do
J
w
W
is
O
J
OD
J
ao
O
;0 LA
A J
C
C O O O ?
0 0 0 0 0
O
O
O
C 0 0 0 0
C O O C C
C 0 0 0 0
H
0
til
o c x z ti r G� C7 �; d d n oc a y -� y; n n y �? d d a
5 a° y m °; o a• CD E E. E. a n k x a g o g 0 0 ►_.
0 0 o cao Y ° 0 2- ( a ao ?� ? a a y Cn m y 9 '� co 0 n G
a CD w C� y ti w a o ao o c y =° =° to, co n7 k
�f a o ° a n 00 o �. � �. C° a
o CD CD
CD
y
0
a
°
A w
00
W .-• J A G� '.- N to W N A W O,
00 In ON O\ ON 00 O J A N 00 O O Vi
o0 00 0o O N oo J �O �•- O cn �-- J
V O O O O C O LA O O O O LA O O O O O O O O O O O O O t-A V 0 0 0 0
O
_ o 4�, A tD � w w w �c C, ? J J O
to J c.n t0 �O V D O 00 �• 00 �O A A W to N 00 , C
Oo O �1 t o �c tG O �O 0 �l O, O O O O O O O C
0 0 0 0 0 v O N 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 ►y.
0 0 0 O O O O O O O O O C O O O O O O O O O O C O O C O 0 0 0 0 0 Q
r
_ to z
N
91 A
Q\ N N W Oo J W oll
0 0 0 0 0 0 O w 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 J O O w O 00
0 0 0 0 0 0 0 0 0o O cr 0 0 Vi O O O C C O O ao 0 0 0 Q\ O J O? Q\ CrJ
O O O O O O N O� O� 0 0 �- 0 0 0 0 0 0 0 -• O O O N O �O A O �l � Q\
N_ p
-- �--• A O �- W O O\ to N w to O N O w vi w to A N O ►e'
W Q Po i-+ O N O :l O1 c J? W
N O J O� to N N A N A Oo Oo N W A W M W
W N t0 �O to N A Q` W to --] LA O W �O �D oo O Q\ N G A C, N A w
�D N 00 O )O N N W �D t° t.n O N O Q\ O N Oo O A _1 A O N O Oki
cU D O O to O 00 O N O cA LA O vi In �A O 00 N N N v O vA 00 ACYN w 0 CrJ
O 0 0 0 0 0 0 cn 0 0 0 0 0 0 0 0 cA O O O vA ON to O O O O\ to O 00 O
to as 00 00 A y
0 W Vi J N Cn w A O N A W O rr
0 00 uD w Cn A N oD [
0 L o LA 00000 v,0000
° 0 0 0 0 0 0 0 0 0 0 000 0 0 0 0 0 0 0
0 0 0 o c o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o c o 0 o 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 0 o z
ro
Y
A z
00 A N O, N
t0 000 A CA J UA W to C7, 0o A
0 0 0 0 0 0 0 0 0 O O cn vi O to A t0 O F C„
0 0 0 0 0 0 0o O 0 0 -- 0 0 0 0 0 0 0 0 0� 0 0 v N O cn A cn Q\ O O Cr7
� n
O �
O
y
a
W 'Y
O
O �
O �
ro
C
� O
0
o
o � �o
w m
o •`°•
a
b
C
o
b
a
W
O O
O t3
— O
9 Y �4
a f D
C/1
C
r '=1 ?1 Y q
m ti w c m
C#)
C
C cn cn cn v� v� cn 7 0 0 0 r r x x C1 n n (� n y
o f c ; 'a a as n CD CD ; <° w 0 CO o CD w _, e, - 0 O o
nn ry R E ►. ?� r: ^ y . '� O
� O � �
o � �
o
� � '� B 9
0
� o 'ti X cxu in � � '� � �• ti � -� ,c.� ;; ° c o � , °° � � ^• `° o
�
o ro D
n
,-.
: =
�. ti w w w
!,•
c , � r" cu 7] � m ti n¢. � w q0 w C . ,D � � c � o � � , D, �, Ctl o
F,-
co n'
cn
a CD
Y CD 0 o o �n a n w G7 w' w' n c
3 ' ''
�•
w �°' �?
cn ro m m C
CD 00 ^ 0 `G �." 0. ' G cn
W
co
0~00
C. w `�' On D
2- x " r"
�.
a
K
to co Q :a x c C c n
o
cro
CD
~
�.
0. P CDD 00
0.
cn 0.
cn
VJ
W
N
W
W J A 41 W 00
A N
O
O
CA —1 O O N A ao N U W O CA N O O C1 C O W O J J 00 N A
N �•-
w '-- N �•- Do
�l
N N (n A �c CA
(.A
J A �c -4 A —1 U w C N w J J W w �c 00 �l O �c -1 w V1
W W
W
O \�O C �c tr
�c C J —1 C W O ,c C O\ I�c �l 00 C 00 �c O O \�c �l C C O CA O\ 00 CA
O cn
00
C C C O 00
A
O C cn C C A C C c.A LA C to O C c.A to C C C C O CA O C O O cn O
C O C \c
O O O C C �c O O C O C C O C C C O C C C C C C C C O O O N O 0 0 0
ON
r.A �1
J N
W
A 00
w
D A
O\
J
A O Cn C W� A D\ CJi C `+
� D O
N
O N
0
O
O O 41 C J O O O O ►� W
00 O
O
O C O O O
N
O O O C O Q\ O O C O O O A C �O O O O C O O O O C O O O O w 0 0 0 0
. . . . . . . .
O O
O
O C O O O
C
. . . . . . . . . . . . . . . . . . . . . . . .
O O O C C C O C C O O O O C C O O O C O O O O C O 0 0 0 0 0 0 0 0
O O
O
O C O O O
O
O O O C O O O O C O O O O C O O O O C O O O O C O O O O O O O O O
O O
O
O C O C O
O
O C Cl C C C C C C O C O O C O O O C O O O O O C O C O O C C O 0 0
0 0
O
O C 0 0 0
O
O O O C O O O O C O O O O C O O O O C O O C C C O O O O O O C C O
O O
O
O C O O O
O
O O O C O O O O C O O O O C O O O O C O O O O C O 0 0 0 0 0 0 0 0
N
w
w
A
N
coo O O
�
N N a\ O ao .- �- A O N O C ON A A N N C cc c.n
O C
00 C 00 A -4 �•-
N W
In
A
ON
J J W O w 00 U O� N O W to A �--� �c �- Cn J J ON D\ 00 (2N
O o0
00
O �D �D J O V� �O A Oo O �D vi �c C J 00 O 00 �7 ao oD �O �D O O O� �O oo Cn O O O J
O
A
w C C O C
. .
O O O C C N cn c.A C C O O cA C O O C t-A to cn O C O C C C cn cA A O C cn
O C
C
to C O O to
O
O C C C C C C C C C C C C C O O C C C O
J
�--
N 0000
J
00
c
N
W 00 O\ O
A
00
J
A O
ON
vi
w N
00
C w C O O Cn A �t
�c O
Q\
�A C O O
�c
O C C C C �- O C C C C (-A c.A C w O C C C .
O O
C
O C C C O
O
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
O O O C O O O O C O O O C C O C O C C C C O O C O C O C O O O C C
O C
O
O C O O O
O
O O O C O O O O C O O O C C O O O O C O O O O C C O O O C O Cl C C
O O
O
O C O O O
C
C C C O O O O O O O C C C C C C C O C C O O O C C C C O O C C O C
O C
O
O C C C C
C
C C C C C C C C C CC C C C C C C Cc C C O C D C cc C C O O C C C
O 0
O
O C 0 0 C
C
0 0 0 C 0 O 0 C C 0 C 0 0 C 0 0 0 C C C C O O 0 0 C 0 0 0 C 0 0 0
c., v a v �n cn b ro r d n A m
CD (o CD G. C
G C w y . C C y w w o C ° w w ro c y o o R . m ^ h w
�s
C' <• < F eo N F a C' w
p w p n w A _ t= o �' A o .`� 5• b oo ° B
n Qp M V]' x "�J' y ^O . �• ^ " w^ O` Cro 'n fD n ti
❑ o co ° CO `o' CO .".
CD
^t •`3 ,C n ¢ CIO v' ^ ^ y r R N P7.
CD CD
CD
N .6 " "S O+ A. x d 5 CD UQ
rn
^t
J A
O U U O
O C L1 O
O O U O
O
O
O O O C
C C O O
O O O O
O O O O
Coco
N
N
J
U
O
O
O
C
O
� J
W D1
O O
O O
O O I
O O
O O
O O
W �• W
0 0 0 In Vi O W
O O O C O O J
N
w
O O O C O O N
O O O C O 0 0
O O O C O O O
O O C C O O C
O O O C O O O
•- w O N O O N
N
O\ W
D\ OD J O
O va O O O O cn
C C O C C O O
w A N .-
�O
O O O C O D U A C O
N CA U W
w O O oo N
O O O C O O O O C O
O
O.
0 0 0 0 0 0 0 0 0 0
O O O C O O O O C O
Oo N A D N
U v a\
Cn J J i.n 01 N O\
0 0 0 C ID U J W
cn C O C O LA to cn C O
_ J N
W O\ W
01
VI LA
N N_ W 01 VI O
-.4 O w U 0 0 0 C 0
C O O C C O O O C O
O O O C O O O O C O
W ►+ �- N
U �O A A --1 00 �-
0o O a O w �- O\ Ic O �-
C O U O O C Cn O O a\
C O O O O O O O O N
N �
J W D A
A Cl1 W 00 00 r+ O W
N tJ �D J w
A O w W ON Cli Ali �-
U G O O N oo Cn O vA �l
C O O O O O O O O O
N
O
_N
00
00
N
N
N)
N
N
O
O
O
O
O
O
N
N
r
N
O
N
w
W
O
W
D\
O
w
O
C 0 0 0 0 C 0 0 0 0
C 0 0 0 0 0 0 0 0 0
LA LA N W
N N N
W W W�c O W (.A
U
cn O cn LA O oo O U U
LA
C O O O O w 0 0 0 00
r
N '-• W A N
C O O O ZA J O O O N
C O O O C O O C O C
C 0 0 0 0 0 0 0 0 0
O O O O
C O O O
O O O O
O J
O U
O O
OI OOOO IOI OO I
N
O U
w O
O O O C C O O
O O O C O O O
O O O C O O O
OI Coco IOI OO IOI OOOCOOO IOI OOOCOOOOCO
O
O
C 0 0 0 0 0 0 0 0 0
C 0 0 0 0 0 0 0 0 0
O c
�O O �O C
N r-
- 00 W
cc O o0
O O O O
O O O O
O O O O
O O O O
O O C C
O O O O
O O O O
O COO
CIO
OOI N N
ICI 0 ? J
O O O O
O O O O
vi i.n
O O
O O O O
O O C C
O O O O
OI O O O
OI O O O
N
Q
y y CD
O
G -
C.
d b
`p' O
pq O
y
I
L
O c
�O O �O C
N r-
- 00 W
cc O o0
O O O O
O O O O
O O O O
O O O O
O O C C
O O O O
O O O O
O COO
CIO
OOI N N
ICI 0 ? J
O O O O
O O O O
vi i.n
O O
O O O O
O O C C
O O O O
OI O O O
OI O O O
CDA Dakota County
Community Development Agency
0*0000900*009000000009
To: Dakota County Cities
From: Dan Rogness, Director of Community Revitalization
Date: July 20, 2010
Re: Foreclosure Update
H 0 �M — E`''' 4 46,
OWNERSHIP L
cowte&io
2010 Half Year Summary & Comparison
The following summary contains notice of pendency and foreclosure activity for the first half
(January — June) of 2010 in comparison to the same 6 -month time period of 2008 and 2009.
Although sheriff sale numbers decreased by 23 percent from the first half of 2008 to 2009, the
first half of 2010 saw an increase of 25 percent from 2009. Sheriff sales in 2010 are only about 4
percent lower than the first half of 2008, which was a record breaking year for foreclosure
sales in Dakota County. West St. Paul and Lakeville both had large percent increases from the
first half of 2009 at 79 and 58 percent respectively. Hastings and Rosemount had decreases
between 2009 -2010.
Notices of Pendency
Sheriff Sales
2008
2009
2010
2008
2009
2010
Apple Valley
197
243
247
149
110
154
Burnsville
220
301
320
176
149
181
Eagan
169
263
255
135
122
139
Farmington
160
179
179
94
81
97
Hastings
77
119
103
68
52
48
IGH
87
125
111
70
47
52
Lakeville
168
295
311
139
106
168
Mendota Heights
18
31
13
11
3
6
Rosemount
III
123
98
56
54
45
South St. Paul
99
155
147
100
63
89
West St. Paul
84
76
73
65
29
52
Small Cities
14
75
76
43
34
33
Total
1,404
1,985
1,933
1,106
850
1,064
Although sheriff sale numbers decreased by 23 percent from the first half of 2008 to 2009, the
first half of 2010 saw an increase of 25 percent from 2009. Sheriff sales in 2010 are only about 4
percent lower than the first half of 2008, which was a record breaking year for foreclosure
sales in Dakota County. West St. Paul and Lakeville both had large percent increases from the
first half of 2009 at 79 and 58 percent respectively. Hastings and Rosemount had decreases
between 2009 -2010.
CDA Dakota County
Community Development Agency
006600**000000600000*0
Dakota County Stats — June 2010
• # of Sheriff Sales in June — 152 (compared to 158 in June 2009)
HOME
OWNERS
wwwctiml
• Total Sheriff Sales for 2010 — 1,064 (compared to 850 in Jan. June, 2009)
• # of Notices of Pendency Filed in June — 346
• Total Notices of Pendency Filed for 2010 — 1,933
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 .mn.us /website /dakotanetgis/
The Dakota County Office of GIS is updating the 2010 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) 891 -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:
• One out of every 10 vacation homes purchased nationally in 2009 was in foreclosure
and real estate agents say there is a similar trend in Minnesota lake homes.
• Data released last month suggests that the housing crisis in Minnesota may be lingering.
The number of residential construction jobs fell 13 percent in the first quarter of 2010
whereas home foreclosures set an 18 -month high.
• A report released by the Minnesota Home Ownership Center indicates that more
suburban and rural home owners are threatened with foreclosure.
• The Minnesota Home Ownership Center recently launched "Look Before You Leap" —
a campaign created to help people avoid foreclosure rescue scams and seek legitimate
help. The campaign's website is http : / /www.lookbeforeyouleap.org/
If you have any concerns, please call me at (651) 675 -4464 or send me an e-mail at
drogness dakotacda.state.mn.us
N
z C7
° '40 V "s
•
%0
N
O
N
O
N
V •
N
M
%0
N
I�
N—
M
M
O
u1
M
Ln
Q
Co
410
ap
O
C •
a •
E •
o
`J
v v •
C
> .
O •
CD
�1
00
E
U = •
0
i
EV
O
Ln
v'
co
V1
M
Cl
D U
U
O
H
u
d
O
O
LL
�
(A
ON
%0
N
O
N
O
N
co
N
M
%0
N
I�
N—
M
M
O
u1
M
Ln
c-4
t,-
Co
410
ap
O
N CD
—
CD
�1
00
M
�
v
Ln
v'
co
V1
M
Cl
N
u
d
D
O
Z
4J
V
0
4J
C.
d7
N
bA
Q
3
N
N
N
a`
Q`
N
O
!2
—
L
m
M
N
N ^
M
M
—
N
M
O�
i
a N
N
N
—
rM
%C
L
N
N
OM
t_f
`�
N
N
N
O
N_
�.
Go
LL
^
M
N
�p
N—
V
N
M
00
%p
t
M
en
N
O^
� Ln
N _
N
M
O
Ln
vi
41
tko
4J
.4,
>
�
H
V
a�
O
0
=
_
°'
°
" RP
�>
_
i
d
C
y
y ;
N
V
b4
'
L
>
"I
y
-
rd
Q
1 4
Cc
i
LL=
M
>
=JECc
dl
�+
3
V1�N
dl
O
d
L
-o
b
a
'u
'c
E
c
O
Id
d
L
d
c
c
U
a�
c0
N
Ln
t
O N
U
0
mt
a
o
ui E
U N
O
N
u
U
a�
N
C
0
u
d
c
C
0
U�
aLA
t f-,
Ln
d =
C
O
N
C u
2 L o -
;it O
in f�
U - 0
4 o
� ca
o
c
O
C
L
o
c
m
C O
C
0
LL
•
V
co
•
%0
C ,
N
M
N
al
N
Q •
Cr
Cr
C •
O
O
v ,
Ln
Ln
E •
1�
M
0 •
VI
> •
_
T (U •
.�
rP
--
M
=
11
U � •
U
� •
C
•
O ,
O
D V
CL
O
0
O
N
Z
cn
O
Z
a
co
O
%0
N
N
M
N
O
N
%O
Cr
Cr
pp
O
O
C%
V
Ln
Ln
N
Ln
1�
M
N
N
V)
N
0%
Ln
N
N
O
N
rP
--
M
pp
N
O
N
C%
cn
M
CO
�
M
%0
M
N N
d•
M
Ln
N
—
O
—
—
—
—
M
—
O,
—
O^
u
d
D
>
O
Z
4j
u
O
41
a
as
Q
3
C
Ln
M
M
%0
CO
d
CD
N
N
N
V
N
CO
Ln
—
V
N
V
N
O—
M
M
L
V
V
r-4
N
V
N
r-,
O
N
f7
M
M
N
O
Q
N
M
to
L
�
V
M
^
�O
O N
N
Ln
M
M
N
M
`G
—
N
N
^
LL
N
M
N—
N
Ln
—
N
�'
th
Ln
cc
N
IA
CA
�l
o
>
=
c
a
0
Aj
d
-
N
i
h
r
amW�
b0
$.
=
>
Ecc
3
W3c
G1
°
-j
C
N
N
L
N N
v
0
O �
L
A
o .a
Z V
C
C �
5 C
O
H �
A
L y
A
u
V
0 A
d L
N d
L �
E
O C
u
°U
t N
L
L 0
A U
C �
O
V p
4E
u 0
00-
C
� c
=�
o O
U
A o
Y
C A
L
0
M
N
tA
C �
A .0
E
u c
0 v
� C
Lw0 L
L d
O "-
E O
A u
�Z
<.= O
4,
A O)
v -o
a�
c A o
N
CL y N
of o
N = 0
_u Z
0
O O
Z " E
ct
UJ
H N
ov
Z 16
G/
V
• L
N
C
0
V
C
O
Uv
d Ln
N �
L =
C Ln
O
C 0
C U
0 L-
= 0
tw
Vl
Q 0
0
U
v �
4 o
L Y
7 A
O �
A
C
0 u
c A
C
C
d
O
E
I-
0
<L
A quiet foreclosure trend in Minnesota: lake homes - TwinCities.com
TwinCitiesocom
Page 1 of 4
A quiet foreclosure trend
in Minnesota: lake
homes
By Christopher Snowbeck
csnowbeck@pioneerpress.com
Updated: 06/0712010 12:16:40 AM CDT
Foreclosures by the lake
Getting the chance to sell a lake home in northern
Minnesota was once a cause for celebration among
real estate agents.
"Now, it's like, 'Oh, no, another lake shore listing,'"
said Kay Bowman, a real estate agent with Century
21 Land of Lakes in Grand Rapids.
A few years ago, prices for lake homes were
climbing at double -digit rates as buyers seemed
convinced that all cabins in the land of 10,000 lakes
soon would be gone. Sellers at the time also could
count on demand from buyers who tapped equity
from primary residences in the Twin Cities or
elsewhere to finance a purchase up north.
But nowadays, selling a lake home is no day at the
beach. Vacation home prices have fallen, buyers are
waiting for bargains, and bank foreclosures — once
unheard of on certain lakes — dot the shorelines,
providing low -price competition for other sellers.
One of every 10 vacation homes purchased
nationally in 2009 was in foreclosure, the highest
such rate in five years, according to the National
Association of Realtors. Real estate agents say
there's a similar trend in Minnesota, although they
point out that foreclosures aren't the only reason for
slow sales at the lake.
"It's consumer confidence — sales are down for
almost all big nonessential purchases," said Mike
Peller, president of the Duluth Area Association of
Realtors.
"We are down approximately 40 percent in values
since 2007," said Marc Kuhnley, an agent in the
Brainerd Lakes area with Edina Realty.
"Of course, that 40 percent isn't off a true value —
it's off of a false value that was driven by the
market."
Nationally, the 10 percent of vacation homes in
foreclosure or trustee sales last year is up from just
1 percent in 2005, according to the national
Realtors group.
Foreclosure and short-sale listings in the Twin
Cities metro area had a much bigger impact on the
housing market during 2009. The homes accounted
for 43 percent of the region's home sales, according
to the Minneapolis Area Association of Realtors.
As a group, second -home buyers tend to be a
Print Powered By ! = Cr i 4 D nan _ ;
httD: / /www.twincities.com/ei 15241259 ?source =most viewed 6/7/2010
A quiet foreclosure trend in Minnesota: lake homes - TwinCities.com
TwinCitiesecom
Page 2 of 4
stronger set of borrowers, said Tim Swierczek, a
mortgage broker in Maplewood and president of the
Minnesota Mortgage Association. If nothing else, he
said, vacation homebuyers must show lenders they
can afford the extra house payment.
Five years ago, people buying lake homes had
plenty of equity in their first home to draw on,
Swierczek pointed out. Plus, buyers were more
confident about their own financial health, as well
as that of the housing market.
That's all changed.
Realtor groups don't break out sale statistics for all
waterfront properties in Minnesota, nor do housing
experts count foreclosures just at the lake. But
statewide figures for all home sales and
foreclosures provide some context for the
comments from real estate agents.
The statewide median sale price for a home in
Minnesota during April was $155,000, an increase
of 9 percent compared with 2009, according to the
state Realtors association. That improved median
price, however, remained far shy of sale prices in
2008, not to mention the boom years of 2004 to
2007.
The median is the point at which half of all homes
sell for more and half for less. Back when the real
estate market was hot, Minnesota's statewide median
price consistently hovered around $200,000.
A report this spring from Minneapolis -based
HousingLink suggests bank foreclosures were
making appearances lakeside. Several counties in
cabin country were among those with the biggest
jump in bank foreclosures between the first quarters
of 2009 and 2010.
For example, Lake County — the picturesque home
to Two Harbors, Split Rock Lighthouse and miles of
pristine Lake Superior shoreline — saw a 650
percent jump in bank foreclosures in the first
quarter, according to HousingLink.
The rate of increase is much more dramatic than the
actual numbers, since the county's foreclosure
count jumped from just 2 to 15. Still, county
officials say vacation homes now are among the mix
of bank foreclosures in an area that had just two
properties repossessed by banks during all of
2000.
Year -to -date in 2010, Lake County has conducted
30 foreclosure sales.
Further up the shore in Cook County, Kim Wolff of
Timber Wolff Realty in Lutsen said distressed sellers
remain relatively uncommon, particularly among
individual cabin owners. But it's a different story for
some developers who, as a group, "are taking the
biggest hit these days," Wolff said.
This month, for example, she listed two inland
vacation properties as potential short sales. The
properties had been model homes for a
development that has fallen on hard times.
In the Brainerd Lakes area, banks are involved in
about two of every five sales of waterfront property,
whether by way of foreclosure or a short sale,
estimated Marc Kuhnley, the Edina Realty agent. The
listings have helped push prices downward —
particularly at the spendy end of the market.
A lake home in the Brainerd Lakes area originally
listed for nearly $1.7 million sold after two years on
the market for $999,000, Kuhnley said. Another
Print Powered By i For .°, — °Dyn amics '
httn: / /www.twincities.com/ci 15241259 ?source =most viewed 6/7/2010
A quiet foreclosure trend in Minnesota: lake homes - TwinCities.com
TwinCitiesecom
Page 3 of 4
home originally listed for nearly $1.8 million is now
down to about $1.3 million after three years on the
market.
"Currently, there are 80 lake properties over $1
million dollars on the market up here," Kuhnley
said. Homes in that price bracket are selling at a rate
of about six per year, he added, so it could take a
long time to burn through the supply.
"We are seeing a lot more bank -owned properties in
the Brainerd Lakes area market, which is
predominately lakeshore homes that are second
residences," said Terry Pederson, an agent with
Re /Max Lakes Area Realty in Crosslake. "if you're a
buyer, it couldn't be a better time."
There are signs that at least some buyers are
responding, said Bruce Pogatchnik of Northview
Bank in Finlayson.
Six to nine months ago, buyers were making offers
that were substantially below list prices with sort of
a take- it -or- leave -it attitude, Pogatchnik said. Now,
buyers' offers are much closer to the listing price.
"Either things are firming up or the people who were
one the sidelines think the market has cycled
through the bottom," said Pogatchnik, whose bank
provides financing for recreational property
purchases.
He added that while foreclosures of vacation homes
haven't been much of an issue for his bank, more
bare lake lots have come back than is typical.
GRAND RAPIDS AREA
Foreclosures on nice lake homes in the Grand
Rapids area used to be unheard of, said real estate
agent Kay Bowman. That's changed in the past year
or two, as homeowners struggling to keep up with
payments on their first homes have had to let go of
their vacation properties.
A current listing on Sand Lake in Itasca County is a
case in point. With 1,900 square feet of space, the
two- bedroom house has 150 feet of sandy
Lakeshore, a fireplace, vaulted ceiling, patio and a
two -car garage.
The previous owner tried to orchestrate a short sale
— in which lenders agree to a sale for less than the
amount owed on the house — but couldn't find a
buyer in the high 200s, Bowman said. After the bank
took the property in a foreclosure, Bowman got the
listing in February and promptly priced it at
$259,000.
She's since cut the price three times — to $219,900
— but has had only one showing.
Foreclosures can hurt any housing market, but
Bowman maintains they are just a small part of the
story in her area.
"People aren't coming up here to buy," she said. "So,
you have this great volume of homes that we didn't
used to see. If you could list something on the
lakeshore, you used to say, 'Oh, great, I have a
lakeshore listing.' "
There have been some signs of life in the Grand
Rapids market this spring, but the trend over recent
years has been decidedly downward, said Charlotte
McDermott of Coldwell Banker Northwoods Realty.
The average sale price for waterfront properties in
the area was down 11 percent between 2008 and
2009, according to local Realtors statistics.
Print Powered By {' : _= -_Dynamics
httn: / /www_twincitics.com /ci 15241259 ?source =most viewed 6/70,010
A quiet foreclosure trend in Minnesota: lake homes - TwinCities.com Page 4 of 4
TwinCitiesocom
Nearby sellers get the point.
"It is very slow," said Thomas Bloomquist, an Itasca
County resident who is trying to sell a four -
bedroom home with 200 feet of shoreline along a
small lake in rural Grand Rapids. This year marks
the third consecutive spring that Bloomquist's home
has been on the market, with a current list price of
$279,000.
Bloomquist works as a foreclosure prevention
counselor with a nonprofit group in Duluth, so he
knows that federal efforts to prevent foreclosures
are focused only on primary residences.
It's understandable, he added, since a second home
or cabin is "not a real need; it's a want."
As he surveys for -sale signs at nearby lakes,
Bloomquist said he's not sure how many are
foreclosures. Unlike Twin Cities real- estate websites,
brokers in northern counties don't routinely list the
foreclosure status of listings.
But Bloomquist said he wouldn't be surprised if
foreclosures are becoming a bigger part of the mix.
"With the collateral damage from employment losses
and so many households down to one wage earner,"
he said, "that luxury of having the second home just
isn't there."
Christopher Snowbeck can be reached at 651 -228-
5479.
Print Powered By ._firs `. `Dynamic
httn / /iznzrov twin�itiPC nnm /ri 1 5741 �S9�cnnrrP =mnct viewf-d A /700 ()
http://www.startribune.com/homes/96345449.html?page=2&c=y
r
Page 1 of 2
Minnesota still in grip of crisis in
housing
Thousands fewer jobs and thousands more
foreclosures add up to a lingering housing c
risis, suggests a study released Monday.
While the number of residential construction
jobs fell to a 13 -year low in the first quarter
of 2010, home foreclosures hit an 18 -month
high, according to the quarterly report from
the Minnesota Housing Partnership.
And that may not change anytime soon, the
organization's executive director, Chip
Halbach, said. "It's just a situation where
declining incomes, loss of jobs are squeezing
people out of their homes," he said.
Actual foreclosures in Minnesota numbered
6,700 from January to March, the highest
total since the third quarter of 2008. Pre -
foreclosure notices were also on the rise, an
indicator that Halbach said meant more
foreclosures in the future.
Meanwhile, mortgage delinquency rates fell
for the first time in at least three years. The
level hit 7.7 percent in the first quarter of
2010, down from 8.1 percent in the last
quarter of 2009. Still, delinquencies remained
more than twice as high as the same period
in 2007, when rates held steady around 3
percent.
Residential construction jobs in Minnesota
have also taken a severe hit, from more than 1
4,000 in March 2007 to 8,800 in March
2010. "There will be some leveling off,"
Halbach said. "The economy has improved
somewhat -- at least it's not getting a lot
worse."
Several studies track the housing market, but
most focus on one piece of it, such as home
sales or home construction. Minnesota
Housing Project's "2x4" report takes a more
holistic approach, tracking housing trends
across the industry, including rental prices
and vacancies, homelessness, and
employment in home construction. The
organization, based in St. Paul, advocates for
adequate housing throughout Minnesota.
"Until we see the number of jobs increasing
and a fairly dramatic reduction in the
unemployment rate, we will continue to see
elevated numbers of foreclosures," said Ed
Nelson, a spokesman for the Minnesota
Home Ownership Center, a St. Paul
organization that offers foreclosure
counseling.
Data provided by the Minneapolis Area
Print Powered By = `l�,rrsara tics
httn:// www .startribune.com/temDlates /fdcn? 1276807200645 6/17/2010
http: / /www.startribune.com /homes /96345449.html ?page =2 &c=y Page 2 of 2
� Md!
�.,
Association of Realtors indicated that
foreclosures and short sales totaled 28
percent of all Twin Cities sales in the first
quarter. The federal first -time homebuyers'
tax credit boosted home sales, the
association's president, Brad Fisher, said. But
with that credit now expired, sales have
already plummeted in May.
The rental market improved somewhat, with
the vacancy rate falling to 6.2 percent, thogh
still well above the 5 percent that is
considered balanced. The percentage of
tenants late with their rent also fell one
percentage point, to 19 percent.
Meanwhile, homelessness continues to climb.
Hennepin County public shelters served 195
families between January and March,
reflecting an overall upward trend and a 48
percent increase from the same period in
2007. Minneapolis and St. Paul schools also
counted 6,342 students without homes
between Julv and March, a 6 percent increase
over the same time last year.
"Housing is not just something that stands
off by itself," Halbach said, "but it's really an
important part of our communities in terms
of employment and education."
Molly Young • 612 -673 -4376
Print Powered By = "" a - TT E? tarrtic
httn• / /www ctartrihnne r nm / tPmnlatPC /frlrn91771SR07?00645 6/170010
More rural, suburban Minnesotans threatened with foreclosure - TwinCities.com
TwinCitiesecom
Page 1 of 2
More rural, suburban
Minnesotans threatened
with foreclosure
By Christopher Snowbeck
csnowbeck @pioneerpress.com
Updated: 06/19/2010 12:32:43 AM CDT
Moving out
More homeowners in the suburbs and rural areas are seeking
foreclosure counseling, another indicator that the problem has
migrated beyond the inner cities. This map reflects the rate at
which households in metro counties sought help from the
Minnesota Home Ownership Center.
Nearly 16,000 Minnesotans sought foreclosure
prevention counseling services in 2009, an increase
of 34 percent compared with 2008, according to a
report being released today by the Minnesota Home
Ownership Center.
The report from the St. Paul -based group says that
nonprofit counselors in the state helped
homeowners avoid foreclosure in 57 percent of all
cases in 2009, up slightly from the previous year.
In Ramsey, Washington, Chisago and Isanti
counties, the center's counselors reached between
1.7 percent and 2.8 percent of the owner- occupied
households in those areas, the report found. That
means the relative saturation rate of counseling
across the state was highest in those counties,
along with four collar counties in the west metro
and three others farther from the state's urban
centers.
"The pattern of service use suggests that the
foreclosure problem is moving out from the urban
areas and into suburban and rural counties," the
ApAs report states. "The counties with the highest rate of
' • Re�ota°"ses'okis households served form a ring surrounding
seeking help in 2009 Hennepin and Anoka counties."
McLe� l Co.
Co.
t�akota
{ - to.
1�
Source: Minnesota Horne Ownership Center
F - Ouk -0.2%
(' 0.3% -0.6%
0.7% -1%
1.1% -t.6%
1.7% -2.s%
PIONEER PRESS
A new report on homeowners facing foreclosure
offers more evidence that mortgage defaults
increasingly are a suburban and rural phenomenon
in Minnesota.
In May, a Minneapolis group called HousingLink
reported that first quarter foreclosures in Minnesota
were up 28 percent compared with the same period
in 2009. The rate of increase was especially high in
suburban counties such as Washington and Dakota
as well as those beyond the metro area, a change
that experts said fits with shifts in the underlying
causes of foreclosure.
Whereas many foreclosures a few years ago
stemmed from subprime mortgages with features
that made the loans unaffordable in the long run,
Print Powered By
httn:/ /www.twincities.com/business /ci 15330239 ?nclick check =1 6/22/2010
More rural, suburban Minnesotans threatened with foreclosure - TwinCities.com
TwinCities
Page 2 of 2
more homeowners today are falling behind on
mortgage payments because of incomes diminished
by the recession. That has resulted in less
geographic concentration in bank foreclosures,
which had been most frequent in certain
neighborhoods of St. Paul and Minneapolis.
Although there have been signs of life in the
Minnesota employment market this year, income
loss remains the significant driver of foreclosures,
said Ed Nelson, spokesman for the Minnesota Home
Ownership Center.
"Even if the unemployment numbers decrease
dramatically today, it can be months before a
homeowner recovers financially," Nelson said.
The Home Ownership Center coordinates a network
of 25 agencies across the state, providing local
foreclosure counseling services. The report to be
released today is the group's second annual survey
to summarize the demographics of Minnesota
homeowners seeking help.
There were 23,019 foreclosures in Minnesota in
2009, the second highest year on record. The total
was down 12 percent from 2008, when the state set
a record with more than 26,000 foreclosures.
Almost 5 percent of all residential properties in the
state have experienced a foreclosure in the past five
years, according to the report.
"As we enter the third year of this prolonged
foreclosure crisis, the need and demand for
foreclosure counseling services continues to grow,"
the report states. "High levels of unemployment
mean many families are struggling to pay their
mortgage, and falling home prices render a home
sale economically unfeasible when the mortgage is
no longer affordable."
Christopher Snowbeck can be reached at 651 -228-
5479.
Print Powered By i r = o .—,a t.Dyna a
bttn• / /www twincitiPC cnm/hncinPCC /ri 1 5VAn ?I9pnrlirk rbPrk=1 6/ ? ? / ?()1()
http: / /www.startribune.com /homes /97357279.html ?page =2 &c=y Page 1 of 2
6 ft im M
I irl - =
Look Before You Leap: Out to quell
foreclosure - related scam
Patricia Goff got taken not once, but twice, by
shoddy loan modification companies
promising to fix her mortgage woes for an
upfront fee. Neither delivered and now Goff,
47, is facing foreclosure on the Rosemount
home where she lives with her husband and
21- year -old son -- unless she comes up
with $34,000 -- more than Goff earns in a
year. "They dragged my life out and now it's
done. It's too late. There's nothing that can
be done because we're a year and a half
behind on our mortgage," she said.
Hoping to prevent others from ending up like
Goff, the Minnesota Home Ownership Center
and dozens of partners are kicking off Look
Before You Leap, a campaign designed to
teach people how to spot foreclosure- related
scams and let people know help is available
for free from housing counselors around the
state.
"If you're being approached by somebody
offering a quick fix, making promises about
being able to modify your mortgage and /or
looking for money from you, those are red
flags," Julie Gugin, executive director of the
Minnesota Home Ownership Center, said.
There will be an event at 10:30 a.m. Tuesday
on the East Side of St. Paul, one of the areas
hardest hit by foreclosure, featuring
homeowners who have agreed to share their
horror stories. It'll also include remarks from
housin(y officials.
Look Before You Leap is part of a national
public education effort called the "Loan
Modification Scam Alert," which was started
by the community development nonprofit
NeighborWorks America with $1 million from
Congress. So far, several cities around the
country -- Los Angeles, Dallas, Miami,
Atlanta, Las Vegas, Milwaukee and Kansas
City, to name a few -- have created local
versions of the campaign, NeighborWorks
spokesman Steve Hennes said. Events are
planned in Chicago, Des Moines and Omaha
later this year.
In Minnesota, the Home Ownership Center,
along with local partners including the
Minnesota Department of Commerce, Wells
Fargo, the Foreclosure Partners Council and
the Minnesota Housing Finance Agency, will
spend six months spreading the word about
the booming mortgage scam industry using
the new website lookbeforevouleap.org, a
Facebook page, and materials that partner
agencies can hand out to Minnesotans in
need.
Print Powered By a c ° Dy qs
http: / /www.startribune.com/templates /fdcp? 1277832197098 6/29/2010
http: / /www.startribune.com /homes /97357279.html ?page =2 &c=y Page 2 of 2
1411
=,I 4 - Kel l
As the number of foreclosures increase in
Minnesota, more struggling borrowers are
turning to loan modification for help.
According to the latest figures from
HousingLink, there were 6,716 foreclosures
in Minnesota in the first quarter, up about 11
percent from the previous quarter and 28
percent higher than the first quarter of 2009.
Last year more than 23,000 Minnesotans lost
their homes in foreclosure.
Backlogs at mortgage servicers that can
legitimately offer modifications along with the
fact that not everyone qualifies for the
programs offered by banks and the federal
government have opened the door for
unscrupulous businesses to make promises
to desperate homeowners. Gugin said that
while this problem has no boundaries,
certain areas and demographics are
companies to charge fees before delivering
services. Minnesota Attorney General Lori
Swanson sued two companies in March for
violating this new law.
It's tough to determine whether a campaign
is successful because the problem tends to
be underreported, making it hard to know
how widespread the problem is to begin with.
In Minnesota, Gugin will monitor the use of
materials and hopes to track complaints to
the attorney general's office.
What has Goff learned from her ordeal?
"Don't pay any money upfront," she said. "I
could start up a company and say, 'Hey, I can
help you with your mortgage,' and let you sit
there, and sit there and sit there and wait.
And then nothing's done, but thanks for the
$3,000."
particularly targeted: outer -ring suburbs, Kara McGuire • 612- 673 -7293
areas with high rates of unemployment,
senior citizens, and within the Latino,
Hmong, and African - Ameri can communities.
Spotting an illegitimate loan modification
offer can be difficult. "People don't recognize
necessarily that they're being scammed,"
Gugin explained.
A 2009 state law makes it illegal for
Print Powered By �� TC7y arni�s
http:// www .startribune.com/templates /fdcp? 1277832197098 6/29/2010
t IV
SUMMARY OF LAKEVILLE'S RENTAL MARKET
2010
2010 AVERAGE RENT AND VACANCY CHANGES FROM 2009 - INCREASE / (DECREASE)
AVERAGE RENTS
Lakeville's overall average rent for 2010 decreased by $14.47 or 1.50 %.
Average rents were lower for three bedroom units and higher for efficiency, one and two bedroom units when
compared to the county averages.
VACANCY RATES
The overall vacancy rate for Lakeville in 2010 was 4.56 %, down from 6.49% in 2009, see Graph 50.
Vacancy rates were lower for efficiency, one and two bedroom units and higher for three bedroom units when
compared to the county averages.
Vacancies in Lakeville account for 1.95% of the vacancies county-wide, see Graph 46.
SPECIAL NOTES
Lakeville accounts for 2.98% of the rental market in Dakota County, see Graph 47.
Lakeville has four senior housing developments: Crossroads Commons (87 units), Highview Hills (153 units), Main
Street Manor (51 units) and Winsor Plaza (64 units). See "Senior Housing" section for details.
Lakeville has four tax credit developments: Cedar Valley Townhomes (30 units), Country Lane Townhomes (29
units), Lakeville Court (52 units) and Prairie Crossing (40 units). See "Tax Credit Housing Units" section for
details. One tax credit development, Meadowlark Townhomes, is under construction. See "Units Under
Construction" section for details.
Lakeville has one congregate /assisted living housing development: Highview Hills (76 units). See "Congregate and
Assisted Living" section for details.
For the number of rental units, average rent and vacancy trend information from 2006 - 2010, see Graphs 48 - 50.
AVERAGE RENTS
VACANCY RATES
2010 Avg. Rent
Dollar Amt.
Percent
2009
2010
Differenc
Unit Size
of Change
Change
e
Efficiency
$650.00
$650.00
0.00%
N/A
0.00%
N/A
One Bedroom
$795.02
($37.32)
(4.48 %)
2.20%
4.86%
2.66
Two Bedroom
$968.45
($7.73)
(0.79 %)
7.80%
3.71%
(4.09)
Three Bedroom
$1,181.86
$18.73
1.61%
9.62%
7.00%
(2.62)
AVERAGE RENTS
Lakeville's overall average rent for 2010 decreased by $14.47 or 1.50 %.
Average rents were lower for three bedroom units and higher for efficiency, one and two bedroom units when
compared to the county averages.
VACANCY RATES
The overall vacancy rate for Lakeville in 2010 was 4.56 %, down from 6.49% in 2009, see Graph 50.
Vacancy rates were lower for efficiency, one and two bedroom units and higher for three bedroom units when
compared to the county averages.
Vacancies in Lakeville account for 1.95% of the vacancies county-wide, see Graph 46.
SPECIAL NOTES
Lakeville accounts for 2.98% of the rental market in Dakota County, see Graph 47.
Lakeville has four senior housing developments: Crossroads Commons (87 units), Highview Hills (153 units), Main
Street Manor (51 units) and Winsor Plaza (64 units). See "Senior Housing" section for details.
Lakeville has four tax credit developments: Cedar Valley Townhomes (30 units), Country Lane Townhomes (29
units), Lakeville Court (52 units) and Prairie Crossing (40 units). See "Tax Credit Housing Units" section for
details. One tax credit development, Meadowlark Townhomes, is under construction. See "Units Under
Construction" section for details.
Lakeville has one congregate /assisted living housing development: Highview Hills (76 units). See "Congregate and
Assisted Living" section for details.
For the number of rental units, average rent and vacancy trend information from 2006 - 2010, see Graphs 48 - 50.
SUMMARY OF LAKEVILLE RENTAL DATA - 2010
0 BR 1 BR 2 BR 3 BR TOTALS
Number of Units
1
185
350
100
636
Percentage of
Lakeville Market
0.16%
29.09%
55.03%
15.72%
100.00%
Average Rent
$650.00
$795.02
$968.45
$1,181.86
$951.06
Number of Vacancies
0
9
13
7
29
Vacancy Rate
0.00%
4.86%
3.71%
7.00%
4.56%
It I
LAKEVILLE TRENDS
2006-2010
RENTAL UNITS
RESPONDING TO SURVEY
800
700
600
500
400
300
200
100
0
Graph 48
i
572 560 556 636
632
2006
$1,200
$1,000
$800
$600
$400
$200
$0
EFFICIENCY 1 BDRM 2 BDRM 3 BDRM
Graph 49 ❑ 2006 ❑ 2007 ■ 2008 ■ 2009 ❑ 2010
Percentage
2007 2008 2009 2010
—0— Rental Units
VACANCY RATE
6.43 6.49
5.77 4.68
--------- --- -- -4. -56-
2006 2007 2008 2009 2010
Graph 50
12
10
8
6
4
2
0
Units represented refer to units identified through responses to the survey
AVERAGE RENT BY BEDROOM SIZE
Monthly Rent
LAKEVILLE
PERCENTAGE OF COUNTY'S RENTAL MARKET
2010
Percent of County's Vacancies
❑ 1 BR - 9 UNITS
13 BR- 13 UNITS
03 BR-7 UNITS
GRAPH 46
COUNTY -WIDE LAKEVILLE
Percent of County's Rental Units
■ EFFICIENCY (1 UNITS) - 0.2%
®1 BR (185 UNITS) - 2.3%
02 BR (350 UNITS) - 3.2%
®3 BR (100 UNITS) - 6.2%
COUNTY -WIDE LAKEVILLE
GRAPH 47
Units represented refer to units identified through responses to the survey
. i
KEY TO THE LAKEVILLE MAP
Location of Rental Housing Units
Dot #
Name /Address
# of Units
1
Colonial Apartments
16
20596 -20612 Hollins Ave W
2
Evergreen Apartments
24
8550, 8570 -8590 208th
3
Lakevillage Apts
70
8510 -72 210th St W
4
Lakeville Woods Apts
76
18351 Kenyon Ave
5
N/A
4
16045 Joplin Ave
6
N/A
4
16075 Joplin Ave
7
N/A
4
16947 Garcia Wy
8
N/A
4
16955 Garcia Way
9
N/A
4
16959 Garcia Wy
10
N/A
4
20630 Hughes Ave
11
N/A
4
20785 Holyoke Ave
12
Southfork I & II
272
10829A - 18001 Jubilee Wy
13
The Oaks of Lakeville
106
20452, 20458 & 20464 Iberia Ave
14
Village Dweller
44
20988 Holt Ave
15
Crossroads Commons *
87
17725 Glasgow Ave
16
Highview Hills — Independent Living * &
153
Assisted Living and Memory* **
20150 Highview Ave
17
Main Street Manor *
51
8725 209th St W.
18
Winsor Plaza *
64
20827 Howland Ave
19
Cedar Valley Townhomes **
30
17326 -382 Glacier Way
20
Country Lane Townhomes **
29
7754 -7870 210 St W.
21
Lakeville Court **
52
20390 Dodd Blvd
22
Meadowlark Townhomes ** (NEW CONSTRUCTION)
40
Holt Ave & 210th St W
23
Prairie Crossing Townhomes **
40
20340 - 20484 Icefall Trail
*
See Senior Housing Units for additional information
**
See Tax Credit Housing Units for additional information
* **
See Congregate and Assisted Living Housing Units for additional information
L A
DIAM rH
CAM RA✓' 150TH STW Pp S PA REONOOD A �PARSOTH S i 150TH ST W A
Z
VALLEY"O I.E w p
KEL4Z l E PAR
1C— f!,ARK X m Z
GREEIGF Y, CRY 7AL ES �` ppAAP� VAL DOLE PENR02aPARK x Z Q
JUDI AL ARK p(
URyER Sr' GREE PARK < A VALLEYd
POND R K PARK YSTAL BEA PARK < H J Q ST O
ELEM CEDAR PAf2K EL M. �� K 0 .
�" E CRYSTAL KELLERIPARKAC V NiFISHING d Q O
LOyrrpRK `r.V` U `
W Q P LAKE �LA� PrE A APP ,ICS
NE[T�IGK (ACLAWN WB C PEN
lI; 6 LAKE AC 160TH ST W
VALLEY iE E DOC=INT
5 ,,rr,,���� � RA Ri]Jtk
O�s CRYSTAL EM. HIGH
VI GHTS Q ELEM. INDEP ENCE °
POIMTE CROSSING � ` AA J� c( Q PARKVIE ORCH 4AKE ELEM.KERaEEL PAW 165TH STW PA HII.�S ELEM S P LLow Y
K�NGSLEY ..LONE OdK PARK
PA
i p
LAKE Q' ROLAKS �`� OUCH _
WAY ARK 1eA vRl ( CRYSbY LAKE 7 U FK IU IRFIELD a
KFFNf ''T�F ARK
�E KENMOJ�PARK � T!$�E; ' UR RK 170TH ST
rIaRDUKE GOOSE ' � — �4 I 9 - NORTpt'IIRAIL ELEM.
oRC
LiKE II cED,g41yGHLAND.S N�AD a R O
ORLHARD OOO KE CH =W K
LAKE NORTH PARK i1
CHRISTINA HUDJLESTON E M. l � •
.\ oRCHARO 175TH ST DAK a Hrs CHERRY VIEW ELEM. GHE I1W
B P`s A4aRR 12 I o gwo s 15 f
zl� 'OD f
Rav�1KE o �STVIF�IN ELEM.
" RAVEN j, }
.' 4 LAKE Q 0 °
w
185TH ST 185TH ST K/NO PA w < DAI A oLL
CENTUY J.H. >
Q Q PRAT IE EEK
= N 0
"I PA "Rif
F j U O
� Y
FI,�A,IING ASS A � > 190TH ST W
O
D k O O <
R LL
u w E OTA'( a a
ITTERFARM
1
PARK f OO JRAIL J.H.S. PRES R PARK
— Lf' AKIN ROAD ELEM.
195TH STW f.
LAKEVILLE tGH NORTH >W GA EPSON PARK Q
MA
R10N
LAKE LAIC MARION ELEM. w 200TH ST W 1
J�IN PA�K i
16
A ftS ARK
LAKEVI ELEM. 21 23 1 PAR PINrr
�--1 NSON PA
205TH ST W aaeK
pcve DaOK YC PARK
J
RK p� 17 TRACE PARK ¢
210TH ST W
O • • 2 20 z FARMINGTON MIDDL
✓O LAKEVILLE HIGH SOUTH ° 14 •3 o
Q lVj r, JOHN F. KENNEDY ELEM. QAI(EVILLE BLVD
>
w R ly q DONALD J. MCGUIRE J.H.
< ` LL
y , 215TH STW S P RK
U
z m FARMINGTO JH.S
w O
Y Q
LL 220TH ST W
A CAKE � L
k PARK ^t
AIRPORT
225TH ST � 225TH ST W
a
tt
LAKEVILLE - Surveyed Market Rate Rental Housing
0
N
W E
S
0.5 1
Miles
Rental Units by Location
1-25
• 26 -75
76 -175
• 176-300
• More than 300
(See Key for information about individual locations.)
Sources:
Dakota County Community
Development Agency
Maps created by the
Dakota County Office of G/S
April 2010
0
CD
n
(.
0
0
U)
�o
(n
:3�
r
CD
Q)
(n
(n
C/)
CD
0
(D
n
O
O
CD
o
0
N
O
W
O
0
e
TA
v
CD
Q
w
O
Q
0
O_
W
W
O
O
CD
0
0
Fn
O
Z3
co
X
CQ
w
O
U)
m
O
O
3
(D
■
I
0
cn
n
CD
D
v
lG
m
r+
3
CD
CD
0
O
2
3
m
Q
cn
(D
N
O
-.-%. 0
O e--F
� 0
CD
(D O
:3 0
(D
(n 3
cn 3
L�J
`V
n
U
O
O
n
U)
r
G)
O
O
Q
00
O
cu
�l O N
v O
W ((D o
o ° �
0
N
O
O
U)
;7
:3
CD
(D
U)
CD
U)
CD
3
Cn
f--#-
C:
CD
CD
W
CD
n
U)
CL
0
0
CD
0 W
CD °
0
0
r
_
-
rn
z
0
O
C
to
v
(D
U
°
3
C D
00
v
o
w
r
N
O
O
r
v
�
m
O
co
c
N
0
CA
�
N
N
- - - - -- -
CD
co
r
N
O
O
r
v
�
m
O
CCD
c
N
0
CA
�
i
0
U
0
CD
(D
r
CL
A
O
N
O
Cn
(D
�
• O
•
U1
O
0
n
z
o
r
0
C
:3
CD
M
Cn
(a
CD
�
c
0
:3
O
o
�
O
%<
n
O
(�
(D
r-+
�
-�
x
0
m
:3
Cn
v
CD
'
o
�-
O
3
CD
Cn
Z
O
(a
0
n
O
O
0
(n
r
CL
o Z
0, O
0
V
W
X- X- =r
o (D
°, °,
N
n cnCD
o CD
0
o
Q
W
U)
E3 _ cn
o
CD
cn
cn
Ul
0
•
E
(n
::3�
CD
U)
U)
U)
CL
r+
v
r--f
0
0
CD
Z
CD
x
rm+L
7rl
CD
CD
v
C
Cn
CD Cl) m C
o� �'o G � Cn �� °� �v
aoW5"-�.v <��W.mmm3o �cD��voowom m
� - v
C7 o���mo��rra��v °��000mc°nc°n�o�o
cn
<��� D - (a wo 00(0(Q(0 nmmm
°� W= 030
-omw Qv� ���c)cD���o � ° — 333m7-R-000
cn- cn�. -+m(n COcn cncn 3E cncncn 0ww :3 , ' ��
.
O
1
•
O
O
Z
(D O
(Q Cn
N (.
l J
N
O
O
C/)
p}
CD
CD
�
(D
C
(D
.
:3
fD
;u
U)
OL)
(/)
rF
Q.
n
0
(
cn
CD
cn
m
N
O
•
•
•
l4w
O
C C/)
cn ( C O
m Q n
(D - 07- 3
0
o C/ %0 3� v o�v �� -�
D ���5 �m ox0ow ��'� �
a)(D�o (D _ (D (D � ° o D o(D (D
o �Cn�( (D Dm� . �� .( u� mv 0E+: G �� —�
m�mc °��rr��nv�0 %000mmmno3o
C CQCQ ° �0cQCQCQ v � -u° (D (D (�D
Qv�,� �°(D= �o -- 333(D7v ( D3*
cn - cQ (n (D cn (Q cQ (n o cn cn 3 3 in cn in cn cn cn 5 ,� 5
■0
CD
CD
O
v
N
C)
R-
(.
CD
U)
�U)
V,
QL
3
�O
0
MMI
v
n
m
ra
n
CD
n'
CD
U)
L�J
CD
n
c
�
N
CD
U)
0
U)
1 -q-
Q
O
C)
O
w
0
G)
D 0
1
0
T
/ rn \
♦ V
l7 J
W
U)
U)
r U)
V d
L
v
C:
CD
n
CD
Z
n'
CD
U)
-1:
m
w
C�
cn
(D
�0
o
rn
rn
G)
D 0
1
0
T
/ rn \
♦ V
l7 J
W
U)
U)
r U)
V d
L
v
C:
CD
n
CD
Z
n'
CD
U)
�J
n
O�
�
N
O
CD
TA
O
o �
v
0
0
O
N
O
o <
r
�s
V J
O
3
v
N
MMN
O
O
G
CD
r-F
G
W
C:
^,
av
U)'
X
(D
---I --%
(C)
zT
CD
C7
O
(D
O
n
CD
r
Q
O Cr O cr O cr O
C
CD
0
°
0
N
0
0
N
0
w
0
N �
C7 °
(D �
� o
Sv °
O
(D
°
0
0
0
CD
0
0
rr
C
CD
W
N
N
Q
m
U)
cr
',
�•
c�
n
N
a�
N
41
0
N
�J
CD
n
o'
CD
CD
U)
Q
J
N
O
R •
0 •
••
•
O
N
O
C Cl)
Cl) v m C
m Q n � ��
0
�� ��o 3 D
- n cn TD (D
o� o��o� �� ��o'ov
�.v 7-o -a vi � 3 (D T m o �� � (D
5 �'� 5' o �nn m - .(Q �,�
( o +' o�m Ur��D� D(��
���*.vm �o�,m�m 3a�
< �_.m mwo�`G���.�m =p -U0-U
cM *�'o-Cnrr-o-cL —m0 000COm0Q-o -o
(D ;U %v O���cQ(cmo 0ocncan - u ommm
vm -0 (D = } ��- � -v����
-n _0 m�'m�o ° �v�.vv =� -�� -•m
OW 3
� = omQDDo o -- 333m� -oo�o
cn {o ,� m cn co co (n 3 3 UT UT v) (n in u) (n cn 5 .-1- =3
low
C
E
I
V)
CL
D
U)
�o
0
U)
o�
:3
0
n
r�
CD
n"
CD
U)
�c�
0
3
(n
v
rn
low
C
E
I
V)
CL
D
U)
�o
0
U)
o�
:3
0
n
r�
CD
n"
CD
U)
L�J
CD
n
O�
CD
CD
U)
r q-
Q
O
00
O O
in
OL)
77
/ D
�
U)
5 .
rnrn
��\ ^VV
' (n
V
V n
==A
v
x
:3
n
�l
CD
OL)
U)
CD
r--f
0
a PP- O . P- d
0
v
v
0-0
CD
n
O
O
CD
r
Q-
Cl)
O
o p
O
U)
CD
O
N
"'o O
in
CD
(D o
��
� 1<
DO
0
w - n
v
o
CD
E
:�
(4
U)
U)
Ll
CD
n'
CD
n
c
U)
0
MMI
r
0
CD
�l
�i
OL)
x
CD
U)
n
O
(D
r
� o
N
O
M •
a •
0
O
>
❑
- n
❑
= 37
g
ZT
(D -'
(D
O
(D
(D
CD
n
(n
-
cn
m
—
(D
Q
90
°
(n
l<
�
0
n
—
o
3
0
CD
n
(
=�
cQ
(n
v
G
O
=3
n
-
N
C7
(
(n
O
(D
V)
c
❑
❑
❑
g
ZT
(D -'
Q
O '{
D
cn
o
o
--
- - - - --
�
- ---
- -- N) ---
❑
❑
❑
Cn 7rl
ZT
(D -'
Q
O '{
D
Q
J
0
3
N 3
O
MMI
cn CD
f
rf
W O•
(D T
C: �f
10 CD
n
CD