Resource Library Community Redevelopment
Overview
For communities to truly flourish, they need ample housing options for everyone at every income level, sufficient commercial and industrial property, as well as solid infrastructures such as communications, fiber networks, and safe streets. Working with a number of partners and resources, the CDA undertakes redevelopment activities that strengthen our communities and encourages Scott County to remain a vibrant place to live, as well as sustaining future economic growth.
Intensive Residential Treatment Services (IRTS)
Scott County, in collaboration with the Scott County CDA, constructed a 16-bed facility in Savage that for both mental health crisis and intensive residential treatment services. These services serve our residents, right here in Scott County, who have a high risk of homelessness, death by suicide, inpatient hospitalization, and long term institutionalization.
We invite you to a virtual walkaround by watching the video below.
Community Reinvestment Programs
In addition to strong economic growth, we’re committed to the development and preservation of affordable housing for low to moderate-income households throughout Scott County. We have two programs opening in the coming months, and we invite you to sign up for updates on these — as well as other programs and incentives — by clicking here.
INVEST Deferred Loan Program
The CDA will consider assisting new development or the acquisition, rehabilitation, and preservation of multifamily rental housing through its INVEST Program (preservation of assisted senior rental housing may also be considered), dependent upon funding and CDA board approval.
Conduit Bond Financing
The CDA is authorized to issue tax-exempt and taxable revenue bonds that offer lower debt services to borrowers. Eligible projects include affordable rental housing, assisted living and long-term care facilities, public infrastructure projects, municipal projects, and (501)(c)3 non-profit real estate and equipment.
Economic Development Incentive Grants
The CDA will consider assisting new development or the acquisition, rehabilitation, and preservation of multifamily rental housing through its INVEST Program (preservation of assisted senior rental housing may also be considered), dependent upon funding and CDA board approval.
55+ Independent Living Apartments
The CDA owns nine properties in Scott County, which are professionally managed by Great Lakes Management. Each project included a redevelopment component and has created 478 much-needed affordable independent living apartments for those 55+. These apartment homes include amenities such as a club room, salon, in-unit washer/dryer, covered parking and in-house building manager.
Related Topics
Community Land Trust