Forward New Richmond Committee

Forward New Richmond Committee Meeting Agenda Wednesday, November 20, 2024 at 12:00 PM Council Chambers Page 1. CALL TO ORDER 2. ROLL CALL 3. ADOPTION OF AGENDA 4. CONSENT AGENDA a. Approval of Minutes 2 - 13 Minutes: Forward New Richmond Committee - October 16, 2024 b. Community Development Monthly Updates 14 - 15 Memo: Community Development Updates FNR - November 2024 c. General City Updates 16 - 18 Memo: General City Updates - November 2024 5. AFFORDABLE HOUSING a. Memo: Affordable Housing - FNR 19 - 85 Attachment: Staff Powerpoint Affordable Housing Fund 6. COMMUNICATION AND MISCELLANEOUS 7. ADJOURNMENT  Forward New Richmond Committee Meeting Minutes Wednesday, October 16, 2024 at 12:00 PM Council Chambers The Forward New Richmond Committee was called to order on Wednesday, October 16, 2024, at 12:00 PM, in the Council Chambers, with the following members present: PRESENT: Ryan Shervey, Carrie Borgstrom, Kent Elkin, Joe Green, Bryan Knutdson, Mike Montello, and Pete Kling ABSENT: Aaron Sundeen and Liz Pizzi OTHERS Jim Zajkowski, Ron Volkert, Noah Wiedenfeld, Rae Ann Ailts, and Beth PRESENT: Thompson CALL TO ORDER ROLL CALL ADOPTION OF AGENDA Kent Elkin made a motion to approve the Agenda as presented. Pete Kling seconded the motion. Carried unanimously. CONSENT AGENDA Mike Montello made a motion to approve the Consent Agenda as presented. Bryan Knutdson seconded the motion. Carried unanimously. NEW BUSINESS SURVEY RESULTS - FNR TOP PRIORITIES Beth Thompson discussed the survey results with Forward New Richmond members. The top three priorities from the survey are as follows: 1. Affordable Housing 2. New Business and Technical Park 3. Downtown Revitalization With these top three priorities, Forward New Richmond will start discussing them in order with Affordable Housing on this agenda. AFFORDABLE HOUSING Powerpoint - Affordable Housing Forward New Richmond Committee Meeting October 16, 2024 Attached above, please find the Powerpoint presention for this section. Noah Wiedenfeld and Rae Ann Ailts were present to discuss the Affordable Housing Fund. Rae Ann started the discussion by giving an overview and description of TID (Tax Increment District). The City has, over the past three years, closed TID's 5, 8, and 6. With these closings the State allows municipalities to leave the districts open, one additional year, to collect the revenue and use towards Affordable Housing. Thus the City has created an Affordable Housing Fund that has approximately $1.4 million. With these funds, the City can create housing programs that use at least 75% towards low to moderate income folks. Discussion ensued. FNR members had highlighted several areas to be discussed at the November meeting. These items include, but are not limited to: 1. Revolving funds with low interest loans. 2. Live and own programs. 3. Smaller homes at affordable prices. 4. Renter to homeowner. Forward New Richmond members will assist in making program recommendations, for the Affordable Housing Funds, to the City Council and CDA. COMMUNICATION AND MISCELLANEOUS No items were discussed under Communication and Miscellaneous. ADJOURNMENT Mike Montello made a motion to adjourn the meeting. Kent Elkin seconded the motion. Carried unanimously. Forward New Richmond Committee Meeting October 16, 2024 AFFORDABLE HOUSING FUND  New Richmond Comp Plan/Studies/Surveys Comprehensive Plan Housing Study Financial Survey GOALS NEEDS DATA › Development of non-traditional housing › Detached Single Family › Individuals under 29 need the greatest financial assistance when buying a house › Independent living for elderly people › Middle Housing › Largest barriers to providing affordable › High density multiple-family housing in › Senior Housing housing include rising prices, increase in convenient locations interest rates, lack of inventory and high buyer demand. › Downtown housing › Greatest help would be down payment › Revitalize older neighborhoods assistance › Revitalize historic and traditional housing › House rehabilitation assistance for low to moderate income homeowners  Background • $1,421,356 IN TOTAL FUNDS AVAILABLE • TID No. 5 ~ $355,803 TIDs • TID No. 8 ~ $452,062 • TID No. 6 ~ $613,491 • At least 75% of funds received from tax increment districts must be used to benefit affordable housing within the city. Purpose of Fund Affordable housing is defined as housing costing no more than 30% of the household’s gross monthly income. Current Programs • CDBG (Community Development Block Grant)  Community Development Authority Authorities Responsibilities Goals & Objectives Empowered by City Council › Blight Elimination › Create and Maintain Jobs › CDBG › Community Development › Slum Clearance › Enhance the Tax Base Block Grant › Urban Renewal Programs and › Carry Out Housing Initiatives › Blight Elimination Projects › Purchase and Sell › Promote the General Welfare › Housing Projects of the Community Property of Beebe Building (TID 11) › Housing Projects › Bonding for Non-Profits Presbyterian Homes  Mission and Vision Statements Mission Statement Vision Statement The City of New Richmond, in partnership with the Community Development Authority, strive to Provide resources and programs to ensure that every citizen, regardless facilitate affordable housing within the of their economic status, has safe, City of New Richmond. sustainable and affordable choices where they live to enable them to reach their fullest potential.  Fund Buckets 1 2 3 RESIDENTIAL REHABILITATION DEVELOPMENT LIVING AND INCENTIVES INITIATIVES REVITALIZING  FUND BUCKET #1 Community Benefit Agreements SURVEY FEEDBACK › Majority would develop affordable housing with local incentives › Biggest challenges include Project Specific DEVELOPER Utility development costs and the Analysis INCENTIVES Connections amount tenants and/or future homebuyers are able to pay Loan for Site Preparation  FUND BUCKET #2 First time homebuyer down payment assistance loan LIVE & WORK NEW RICHMOND FEEDBACK › Some of their largest struggles in hiring are the competitive market, lack of applicants, type of work and pay › Positive feedback from businesses RESIDENTIAL Security within the community Live & Work New Richmond LIVING Deposit INITIATIVES Assistance › Majority of the businesses surveyed found interest in the program and would like additional information if this program is created › One suggestion is to create a rental assistance option Grow and Stay  FUND BUCKET #3 Neighborhood Rehabilitation REHABILITATION Rental Curb Appeal Rehabilitation AND Program REVITALIZATION Owner- Occupied Rehabilitation Points of Consideration & Discussion • One time versus long-term/revolving source of funding • Duplication of existing programs • Creating a solution to a problem that doesn’t exist • Administration of program(s) • Are there any particular ideas that you’ve heard about today that stand out to you? For what reasons? • Are there ideas you have, or programs that you’ve heard about in other communities, that you’d like to learn more about?  MEMO Prepared for: Forward New Richmond Staff Contact: Beth Thompson Meeting: Forward New Richmond Committee - 20 Nov 2024 Subject: Community Development Updates FNR - November 2024 BACKGROUND INFORMATION: Building / Zoning Updates – October 31, 2024: Number of Building Permits - 312 Number of New Dwelling Units - 72 Number of Inspections - 1,179 Residential Construction Value - $20,664,448.00 Commercial Construction Value - $28,740,674.00 Building Permit Fees - $349,500.00 Occupancy Updates: For the month of October, the building inspector has given occupancy to 14 single-family homes, and 6 twin homes. Impact Fee Collection to Date: SAC Charges - $95,987.00 Water Facilities Fee - $131,189.00 Transportation Fee - $205,293.40 Library Fee - $192,268.00 Law Enforcement Fee - $31,574.36 Stormwater Fee - $44,624.75 Park Fee - $76,043.00 Upcoming Applications: For the upcoming December Plan Commission meeting we have two applications for Certified Survey Maps. Ribbon Cuttings:  New Richmond Martial Arts -118 Homestead Drive, Unit #1  New Richmond Masonic Lodge - 119 E 2nd Street  Rollout Construction Industries (Any Installation, Any Asphalt, Any Signage) - 245B S. Knowles Avenue  Busted Knuckle BBQ - 1280 Madison Avenue (Lift Bridge Brewery) Update on Edward Jones: Tyson Lybeck and Pete Kling have decided on a location for their new building. They will be purchasing land from Mike McDonald and will be erecting their new facility on the land south of Caribou Cabin. Both Tyson and Pete wanted to thank Forward New Richmond members for the consideration on the City owned land. I am excited that they have chosen a New Richmond location for the future "home" of Edward Jones! Page 2 of 2  MEMO Prepared for: Forward New Richmond Staff Contact: Beth Thompson Meeting: Forward New Richmond Committee - 20 Nov 2024 Subject: General City Updates - November BACKGROUND INFORMATION: The Forward New Richmond Committee has requested a section under consent agenda for "General City Updates" for each meeting. New updates are below: Library  As you drive on Arch Avenue you will see significant progress on the library. I have included a photo update. Projects  New Richmond Storage - West Richmond Way  St. Croix Automotive - South Knowles  New Richmond Garage Condos - Hwy 65 Page 2 of 3 When driving by the new St. Croix Automotive building you will notice that Hamilton Avenue is being completed to Paperjack. As of November 11, the City has received two applications for Certified Survey Maps and one application for a final plat for Gloverdale. This final plat will be for 13 single family homes, which would be added to the 47 homes platted earlier this year. Page 3 of 3  MEMO Prepared for: Forward New Richmond Staff Contact: Beth Thompson Meeting: Forward New Richmond Committee - 20 Nov 2024 Subject: Affordable Housing - FNR BACKGROUND INFORMATION: At the October FNR meeting, staff provided an overview of funding sources for affordable housing efforts and potential programming initiatives for the funds. FNR members expressed a strong interest in developing three to four key programs to ensure New Richmond's community has attractive and affordable housing options. The main initiatives outlined during the meeting included: 1. Live and own programs 2. Smaller homes at affordable prices 3. Renter to homeowner programs Members emphasized that the programs should be revolving in nature, particularly focusing on low- interest loan opportunities. While grant funding may be necessary in some cases, the priority should not solely relay on it. To facilitate further discussions, FNR members requested data on ownership versus rental estimates which was compiled with the help of WCWRPC, currently conducting the Housing Study for St. Croix County. The findings were as follows:  Total Owner Units: 3,112  Total Renter Units: 1,879  Total Seasonal/Migrant Units: 19 (assuming no change from 2020) Furthermore, attached you will find Affordable Housing Fund information from Oshkosh, Fitchburg and Menasha who have had active housing funds for several years. As well as, Menomonie’s unique “Home Sweet Menomonie” program. Click here for additional information on that program. Also, attached you will find an article from the League of Municipalities on affordable housing. A discussion will be led by staff during Wednesday’s meeting to explore potential programming that aligns with the identified initiatives from the October meeting. ATTACHMENTS: TID Extension for Affordable Housing-Oshkosh TID Extension for Affordable Housing - Fitchburg TID Extension for Affordable Housing-Menasha League Article Page 2 of 56  OSHKOSH HEALTY Page 3 of 56 NEIGHBORHOOD INITIATIVES  FUNDING HISTORY Page 4 of 56  2013  TID 6 ~ $213,000  TID 8 ~ $592,000  2014  TID 9 ~ $1,000,000  2018  TID 7 ~ $3,900,000 P R O G R A R E A M A Page 5 of 56  EXISTING PROGRAMS Page 6 of 56  Sold on Oshkosh  Curb Appeal  Owner Occupied  Rental Rehabilitation  Curb Appeal Micro Grant  NEW PROGRAMS FOR 2020 Page 7 of 56  Historic Rehabilitation  Code Compliance Program  New Homes In Our Neighborhoods Program Page 8 of 56 GRANT 0% INTEREST $5,000 FORGIVEN AFTER 5 YEARS NEIGHBORHOODS ONLY Page 9 of 56  SOLD ON OSHKOSH – APPROVALS Page 10 of 56  2016 – 1 Project ($5,000)  2017 – 6 Projects ($40,000)  2018 – 6 Projects ($30,000)  2019 – 17 Projects ($85,000)  2020 – 1 Project ($5,000) YTD Page 11 of 56 10 YEAR LOAN 0% INTEREST $10,000 QUARTERLY PAYMENTS Page 12 of 56  CURB APPEAL APPROVALS Page 13 of 56  2017 – 2 Projects ($20,000)  2018 – 1 Project ($10,000)  2019 – 1 Project ($10,000) Page 14 of 56 15 YEAR LOAN 0% INTEREST $30,000 QUARTERLY PAYMENTS Page 15 of 56  OWNER OCCUPIED APPROVALS Page 16 of 56  2014 – 2 Projects ($62,480)  2015 – 1 Project ($7,500)  2016 – 3 Projects ($69,057)  2017 – 1 Project ($7,100)  2018 – 8 Projects ($200,080)  2019 – 11 Projects ($245,994) Page 17 of 56 15 YEAR LOAN 0% INTEREST $30,000 QUARTERLY PAYMENTS  RENTAL REHABILITATION Page 18 of 56  RENTAL REHAB APPROVALS Page 19 of 56  2015 – 1 Project ($6,870)  2018 – 1 Project ($22,710)  CURB APPEAL MICRO GRANT Page 20 of 56 MATCHING GRANT UP TO $500 PRE-APPROVAL REQUIRED REIMBURSEMENT Page 21 of 56 Page 22 of 56  HISTORIC REHABILITATION Page 23 of 56 • HISTORIC PROPERTIES • 0% INTEREST DEFERRED LOAN • MEET SECRETARY OF INTERIOR’S STANDARDS • UP TO $25,000 • PUBLIC-PRIVATE FUNDING MATCH REQUIRED  CODE COMPLIANCE Page 24 of 56 • CURRENT VIOLATION ORDERS AGAINST PROPERTY • NO MORE THAN 1 YEAR OF BACK TAXES • PUBLIC NUISCANCES/EXTERIOR WORK QUALIFY  NEW HOMES IN OUR Page 25 of 56 NEIGHBORHOODS PROGRAM • UP TO $15,000 GRANT • DEVELOPMENT AGREEMENT & PRE-APPROVAL REQUIRED • NEW OWNER-OCCUPIED SINGLE-FAMILY HOMES • GRANT PROVIDED UPON CERTIFICATE OF OCCUPANCY  LEARN MORE ONLINE Page 26 of 56 https://www.ci.oshkosh.wi.us/PlanningServices/HousingRehabilitation.aspx  QUESTIONS & CONTACTS Page 27 of 56  Mark Lyons– Planning Services Manager  mlyons@ci.oshkosh.wi.us  2020 Public Finance & Economic Development Seminar Page 28 of 56 TID Extension for Housing Programs City of Fitchburg MICHAEL ZIMMERMAN ECONOMIC DEVELOPMENT DIRECTOR michael.zimmerman@fitchburgwi.gov (608) 270-4245 w w w.f i tchburgw i . gov  City of Fitchburg TID Extension for Housing Program Page 29 of 56 • City of Fitchburg At a Glance • Fitchburg’s Housing – Town • Fitchburg’s Housing – City • TID Extension for Housing • Fitchburg’s Housing Plan • Approach & Task Force • Key Findings • Implementation & Recommendations • Financial Toolkit Considerations • Current Housing Developments • Single Family • Affordable Senior • Affordable Work Force  Fitchburg at a Glance:  Growing, Diverse Population – 30,321*, 634,364 Madison MSA*  $3.4 Billion Tax Base (Jan. 1, 2019 WIDOR)  Home to 800+/- Businesses: 17,622 Labor Force* , 2% Unemployment Rate* Page 30 of 56  High Tech Economy: Biotechnology, Instrumentation, Thermoforming, Information Technology, Advanced Manufacturing, Nanotechnology and Agriculture  2020 Budget of $47.3 Million (levy funds, excluding transfers out)  Aa1 Bond Rating  Median Income - $66,958  1/1/19 Average Home Valuation - $310,900  12 Financial Institutions  Chamber of Commerce Visitor + Business Bureau – 400+ Members Strong *Sources: HomeFacts, WEDC Community Profile, Census, WIDOR, Locate in Wisconsin, Fitchburg Chamber VBB,WIDOA  Fitchburg Housing - Town Page 31 of 56  New Fountain Apartments  Maple Lawn Apartments  Nakoma Heights Apartments by Monarch Investment & Mgmt. by Royal Capital Group by J.K. Rock Property Mgmt.  Studio, 1, 2, & 3 Bedroom Apts  1 & 2 Bedroom Apts  1 & 2 Bedroom Apts  The Pines Apartments  The Fairways by EJ Plesko Associates by EJ Plesko Associates  1, 2, 3 Bedrooms Apts & townhomes  1 & 2 Bedroom Apts  Fitchburg Housing - City Page 32 of 56  Fitchburg Springs Apartments  McKee Park Senior Apartments by Gorman & Company, Catholic Charities by Independent Living  LIHTC, 81 Units, 1,2,3 Bedroom Apts  41 Units, 1 Bedroom Apts  HUD Financed, 30% Income Based  Renaissance on the Park by Habitat for Humanity  Dane County CDBG $600,000 Land Write Down  36 Single Family  Stonecrest Apartments  Chapel Valley Senior Apartments by Premier Real Estate by Fleming Development  LIHTC, 1 & 2 Bedroom Apts  LIHTC, 1 & 2 Bedroom Apts  TID Extension for Housing Program Capitalized Fitchburg Affordable Housing Fund in 2017 Page 33 of 56 Kept TID 7 Open for an Additional Year – $127,008 $95,256 (75%) for Affordable $31,752 (25%) for General Housing TID 7 - Increment Value: $5,213,200 as of 1/1/16 2016 Taxes Collected in 2017: $127,008 used to capitalize affordable housing fund Creation Date: 9/12/06 Required Closure Date: 9/12/33 Actual Closure Date: 2/14/17 (16 years early) Excess Increment of $519,206 distributed City’s share of $192,312 used to fund solar initiative/TID 8 closure  Fitchburg Housing Plan: City’s Approach Page 34 of 56  Housing Goals Established by Comprehensive Plan Adopted in 2009  Fitchburg Housing Assessment Completed in 2014  Capitalized Fitchburg Affordable Housing Fund in 2017  2017 Issued RFP for Consultant to Develop the Fitchburg Housing Goals, Strategies, Toolkit and Implementation Plan with Strong Emphasis on Affordable Housing Including Single and Multi-Family Housing - $40,000  Kicked Off Project January 2018 - Task Force of 52 Stakeholders  Work Continued Throughout 2018 – Public Meetings  Plan Was Approved by Common Council February 12, 2019  Fitchburg Housing Task Force Page 35 of 56  Fitchburg Housing Plan: Key Findings Page 36 of 56  High Concentration of Housing That Developed Before the City Incorporated Account for the Majority of the City’s “Affordable Housing”  Fitchburg has the second largest number of recipients of Section 8 Vouchers in Dane County  Single-Family and Multi-Family Mix is 50/50  Multi-Family Development was Robust After the Recession with Longer Entitlement for New Single Family Developments Which Caused Concerns About Housing Mix  New Neighborhoods Need to be Healthy Neighborhoods with a Wide Range of Housing Options  City of Fitchburg is the only City where the Dane County Housing Authority is not Authorized to Operate  Fitchburg Housing Plan 2019 Implementation Page 37 of 56  2019 Common Council Passed an Ordinance Creating the Fitchburg Housing Advisory Committee  9 Members Consisting of 1 Alder, CEDA Representative and 7 At Large Members of Which Three Must be Residents  2020 – Quarterly, First Meeting – March 9th  First Order of Business is Consideration to Authorize DCHA Resolution  Fitchburg Housing Plan Recommendations Page 38 of 56  Develop Healthy Neighborhoods with a Mix of Housing Types  Maintain 50/50 Owner Vs Rental- Need 108 Owner Units & 117 Rental Units Per Year  Add More Single Family Homes Along Fish Hatchery Road  Add More Rentals with 3+ Bedrooms  Build More Attached Owner-Occupied Residences  Support Senior Citizens Housing - 640 Units Needed by 2030 with 80% Affordable  Consider Keeping Future TIDs Open an Additional Year to Capture Increment  Elected Officials Involvement in Development Project Communication  Review Fees & Consider Waiving Fees for Affordable Housing  Consider Land Trust or Land Buy-Down for Affordable Housing  Fitchburg Housing Plan Financial Toolkit Considerations  Consider Keeping Future TIDs Open an Additional Year to Capture Increment Page 39 of 56  TID 6 $2.3 million 2022, TID 4 $4.8 million in 2022  New Mixed Use TID’s – Housing Council TID Parameters - 10% project costs, 15 year payback, developer bond financed  Review Fees & Consider Waiving Fees for Affordable Housing  Land Assemblage  Consider Land Trust or Land Buy-Down for Affordable Housing  Local Down Payment Assistance Program  Create a Revolving Loan Fund for Housing Rehabilitation both Multi-Family & Single Family  Partnerships – Dane County Housing Authority, Madison Development Corporation, Habitat for Humanity, Movin’ Out  Employer Assisted Housing  Workforce Housing Fund Page 40 of 56  New Single Family Page 41 of 56  Uptown Crossing by Veridian  Smart Code Zoning  60 Single Family Homes  2000 – 4700 sf lots  Townhomes  Apartments  New Affordable Senior Projects  The Highline Senior Apartments by EJ Plesko & Associates Page 42 of 56  Corner of Traceway Drive & Fish Hatchery Road  160 Units  Under Construction  LIHTC  Fitchburg TIF - $3 million  Novation Senior Commons by Bear Development  Town of Madison, Future Fitchburg  Southdale Neighborhood  60 Units  Opened Summer of 2019  LIHTC  Town of Madison/Fitchburg TIF $280,000  New Affordable Workforce Housing Page 43 of 56  Artisan Village by Bear Development & Alexander Company  Town of Madison  169 Units  Under Construction Spring 2020 Occupancy  LIHTC  Limestone Ridge Apartments by JT Klein Co.  Orchard Pointe Development  111 Units  Summer/Fall 2020 Construction  LIHTC (pending) Page 44 of 56 Affordable Housing Extension – City of M CITY OF MENASHA Menasha February 20, 2020  M FR Page 45 of 56 Introduction • Sam Schroeder, Community Development Director • City of Menasha • Located in the Fox Cities • Population: 17,748 • Incorporated in 1874 • Land Locked • Water – 13 mi of shoreland • Incorporated Areas Add a footer 2  M FR Page 46 of 56 MEDIAN YEAR HOME BUILT 1990 1985 1980 1975 1970 1965 1960 1955 1950 Oshkosh Menasha Appleton Neenah Kaukauna Ashwaubenon De Pere Add a footer 3  M FR Page 47 of 56 RENTAL RATE 45.0% 40.0% 35.0% Rate Menasha WI 30.0% Fox Cities 25.0% 20.0% 2017 2015 2010 2000 Year Add a footer 4  M FR Page 48 of 56 POVERTY RATE 16.0% 14.0% 12.0% 10.0% Rate 8.0% Menasha WI 6.0% Fox Cities 4.0% 2.0% 0.0% 2017 2015 2010 2000 Year Add a footer 5  M FR Page 49 of 56 Statute 66.1105(6)(g) • 1 Year Extension • Adopt a Resolution extending the life – detail intent to improve housing stock • Send a copy of the Resolution to DOR • 75% of the last years increment to benefit affordable housing Add a footer 6  M FR Page 50 of 56 What is Affordable? • “Affordable housing is defined as housing that costs a household no more than 30% of the household’s gross monthly income.” Add a footer 7  M FR Page 51 of 56 Tax Increment District 5 • Created 1998 • Statutory Closing 2021 • Affordable Housing Program • Early Closure in 2019 • Last years increment into program • Initial Fund $800,000 (roughly)* Add a footer 8  M FR Page 52 of 56 Strong Neighborhoods Menasha! • Goal One: Increase the quality of Menasha’s Housing Stock • Increase median property values • See a downward trend in housing violations • Goal Two: Increase Home Ownership Stability • Return historically single family homes that were converted to multi‐family homes, back to single family homes • Decrease the number of home changes • Increase the % of students who start and finish in the Menasha School District Add a footer 9  M FR Page 53 of 56 Program Summary • Paint and Restore • Up to $1,000 match grant – minor exterior repairs • Curb Appeal • Up to $5,000 match grant – larger exterior repairs • Major Renovation • Up to $15,000 Forgivable Loan – 5 year residency requirement • Minimum $15,000 project, 50% match for owner‐occupied • Investors* • First Time Homebuyer • $5,000 Forgivable Loan – 5 year residency requirement • Property Acquisition • City acquisition of residential properties that are blighted or in disrepair Add a footer 10  M FR Page 54 of 56 Program Implementation • January 1, 2020 • 4 approved projects • Total investment: $74,147.20 • 3 additional pending projects • Total projected investment to date: $134,364.20 Add a footer 11 Page 55 of 56 M CITY OF MENASHA Questions? Page 56 of 56 AFFORDABLE HOUSING FUND  Recap • TID No. 5 – Closed 2022 • TID No. 8 – Closed 2023 • TID No. 6 – Closed 2024 • TID No 7 - Est. 2027 ($190K) TIDS • TID No. 9 – 2035 • TID No. 10 – Est. 2028 ($140K) • TID No. 11 – 2050 • TID No. 12 - 2052  145TH ST 192ND AVE Town of WALL ST Stanton 115TH ST Town 8 DR of Star O RE W NORTH SH OW Y6 4 LES Prairie HW AV E N 4TH ST N KN 7 E 1ST ST CTY RD K 110 TH S T 11 BUS 64 W 4TH ST 9 12 9 add E 6TH ST S KNOWLES AVE 175TH AVE 8TH ST W 112TH ST E 11TH ST CTY RD GG BILM A R Town of Erin CTY RD A 140TH ST Prairie 170TH AVE AV 10 E Town of 5 Richmond PAPERJACK DR 168TH AVE 6 W RICHMOND WAY 150TH ST E RICHMOND WAY HWY 65 ² TIF DISTRICTS CITY OF NEW RICHMOND, WISCONSIN 0 0.25 0.5 1 Miles  Recap • $1,421,356 IN TOTAL FUNDS AVAILABLE • TID No. 5 ~ $355,803 TIDs • TID No. 8 ~ $452,062 • TID No. 6 ~ $613,491 • At least 75% of funds received from tax increment districts must be used to benefit affordable housing within the city. Purpose of Fund Affordable housing is defined as housing costing no more than 30% of the household’s gross monthly income.  Fund Buckets 1 2 3 Residential Affordable Home Live & Own Living Programs Initiatives Programs  Live and Own Programs • Live & Work New Richmond • Goal • Create a thriving community where individuals employed in New Richmond • Similar structure as Menomonie’s “Home can seamlessly live and work, fostering a Sweet Menomonie” Program stronger, more connected local economy. • Public-Private partnership • Requirements • Business participation • $10,000, 0% loan repaid over 10 years • 3rd party administration of program • Must be employee of participating • Further Considerations employer • Extend programming to aid in rental assistance? • Potential principal forgiveness of final • Dollar for dollar matching to leverage year payment participation and funding.  Residential Living • Welcome Home New Richmond • Goal • Empower individuals and families to • First time home buyer assistance secure stable housing by offering no-interest loans for security deposits and down payments, • Up to $20,000, 0% loan repaid over transforming the path to affordable 5-15 years living and homeownership. • Requirements • Loan and repayment is based on • Income qualification income level • 3rd party administration of program • Further Considerations • Should principal forgiveness be considered? • Should program encompass all of City or certain areas?  145TH ST 192ND AVE Town of WALL ST Stanton 115TH ST Town DR of Star O RE W NORTH SH 4 Prairie Y6 HW N KNOWLES AVE N 4TH ST North Side E 1ST ST CTY RD K 110 TH S T W 4TH ST East Side BUS 64 E 6TH ST S KNOWLES AVE 175TH AVE 8TH ST W 112TH ST E 11TH ST CTY RD BILMAR AV E GG Town of Erin CTY RD A 140TH ST Prairie 170TH AVE Southview Town of Richmond PAPERJACK DR 168TH AVE W RICHMOND WAY 150TH ST E RICHMOND WAY HWY 65 ² NEIGHORHOODS CITY OF NEW RICHMOND, WISCONSIN 0 0.25 0.5 1 Miles  Residential Living • Rent Ready New Richmond • Goal • Empower individuals and families to secure stable housing by offering • Security Deposit Assistance no-interest loans for security deposits and down payments, • Assistance based on income level transforming the path to affordable living and homeownership. • Paid directly to landlord • Requirements • Income qualification • 3rd party administration of program • Further Considerations • Survey/feedback of landlords? • Partner with other assistance agencies? • Consider programming which supports revitalization and rehabilitation of rental properties?  Affordable Home Initiatives • Smart Space Homes • Goal • Develop innovative and affordable housing solutions within market-rate developments to cultivate inclusive communities that prioritize sustainability, accessibility, and an enhanced quality of life for all residents. • Considerations • Should a development be incentivized if it provides affordable housing options? • Should smaller lot sizes be allowed? Allowing homes to be constructed on outlots? • Is there an area of the City which should be focused on? • Are we open to partnering with Habitat for Humanity or Housing Co-op • Work with Developers to gather feedback.  Next Steps 1 Feedback from Forward New Richmond 2 Additional staff research for implementing specific programs and present findings to Forward New Richmond at January or February meeting. 3 Recommendation and approval of programs to City Council & CDA 4 Implementation of programs