Relationship to Statewide Plans

The Albert Lea Community Development Plan while a local planning document also relates to statewide plans and goals surrounding housing. The following describes the relationship between local goals established in the plan and the strategic goals of the Minnesota Housing Finance Agency.

Increase the Homeownership Rate for Underserved Ethnic Groups
Entities involved in housing development and the projects identified in this community plan are encouraged to provide focus on emerging market groups. In particular local entities such as the HRA and SEMCAC, and participating local lenders will work to ensure that housing programs, development projects and mortgage tools are marketed to historically underserved populations; households of minority status, single parent households, disabled families/individuals and elderly families. To this end agencies and organizations involved in these processes are encouraged to work with local advocacy groups, religious organizations, and other businesses and organizations that serve or employ families and individuals who are considered as “historically underserved populations” and/or fit the general definition of the emerging markets models.

Preserve Existing Stock of Affordable Housing
The Albert Lea Community Development Plan and the Housing Study identifies housing rehabilitation/preservation as one of the top, if not the highest, priority for the community. The plan has identified a series of steps that are consistent with the state goal to preserve local housing. The following identifies some of the key steps to accomplish this goal:

  • 3 to 6 units through the Minnesota Urban and Rural Homesteading Program (MURL)
     
  • 30 to 100 units of rental rehabilitation.
    o 20 to 30 units through the Small Cities Development Program
    o 10 to 70 units through HOME Rental Rehabilitation, Rental Rehab Loan Program and private investment
     
  • 40 to 60 units of owner occupied rehabilitation through the Small Cities Development Program
     
  • 5 to 10 units through a purchase/rehabilitation program.
     
  • Preservation and rehabilitation of 110 units at Trailside Apartments and Townhomes (formerly Channel View)

End Long-Term Homelessness in Minnesota by 2010
The Southeast Regional Plan to End Long-term Homelessness mirrors the statewide plan and is focused on the specific needs in Southeast Minnesota including Freeborn County. This plan states that new and rehabilitated units should be located in hub counties of Olmsted, Blue Earth, Steele, Goodhue, Winona, and Rice and the spoke counties should largely rely on rental assistance to keep families close to their support systems. This is largely supported by local data for Freeborn County whereby a supply of units is not the primary issue, but the availability of rental assistance and other supports to keep the units affordable. Therefore a priority should be to incorporate permanent supportive housing options into existing units verses the development of new units to meet this need. The local plan has identified a goal of 4 to 8 units of permanent supportive housing through existing units utilizing rental assistance, leasing and Shelter plus Care.

Increase Housing Choices for Minnesota Workers
A driving factor for the community to undertake an updated housing study was economic expansions that are planned for the community that will add a substantial number of new jobs. It is projected that approximately 500 new jobs will be added in Albert Lea in the next few years. The opening of a casino only 15 miles from Albert Lea will result in an additional 400 new jobs. This employment growth will have a substantial impact on the current housing market while also creating the need for additional housing options. Many of the goals listed under the preservation of affordable housing stock goal are also an important aspect of increasing quality housing choices for the local workforce. In addition, many goals related to new development are incorporated as a part of this plan including:
 

  • Development of 24 tax credit units at Pickerel Park #2
     
  • 20 to 35 units of general occupancy affordable/subsidized rental units targeted to low and very low income households
    o 33% to 50% one bedroom units based on 30% of income
    o 50% to 66% two bedroom units based on 30% of income
     
  • 50 to 55 entry level single family owner occupied units between $150,000 and $175,000
     
  • 40 to 45 entry level condominium/townhome owner occupied units between $150,000 and $200,000