City Of Jackson issued the following announcement on Dec. 17.
UPDATE: This is not low income housing. These will be single family homes at market rate prices. In short, United Community Action Agency (UCAP) was awarded some funding from the State to help construct 3 single family homes. The funding is needed to offset some of the cost of building them so they can get the price of the homes down to a level that the local market will support. These homes will be valued in the $250,000-$300,000 range. These valuations will not drive down the values of the neighborhood. The homes will be taxed at the same rate as other homes in the area and the owners will be responsible for paying the property taxes and doing the upkeep of these properties.
UCAP has done these projects in several other communities with great success. Its a win-win for all. We get a few new market rate single family homes that we so desperately need without the taxpayers of Jackson having to pay for it. The homes will add to our community's tax base. They will also increase our housing stock a little bit so maybe someone who works in town can actually live here. Maybe the owners have families whose kids attend our schools. If this project is successful perhaps UCAP or others will do additional market rate housing projects in Jackson.
For those who want a longer read........ As many are aware, there is a critical housing shortage, especially on market rate owner occupied and rental housing in Jackson and in many other communities in outstate Minnesota. The fundamental problem is that the cost of construction of new housing exceeds what the market value of it will be once completed. As a result, building new market rate/workforce housing is oftentimes a money losing endeavor for the builder.
In order to get new market rate housing oftentimes there has to be some form of governmental and non-profit partnership to make it work. Alot of work went into this project by the City of Jackson/Jackson EDA in partnership with UCAP to help make this project come to fruition. There was much deliberation by the EDA and City Council back April when both bodies approved the project.
The City of Jackson/Jackson EDA have done a number of things over the years to spur new housing in Jackson within the tight confines of Minnesota law. A few such project include: -both Phases of the Sunset View Subdivision on Pond Dr.- construction of several twin homes, rented them out for awhile, and then sold them at a loss.- the Westridge housing development and Westview subdivision. --partnering with the SW MN Housing Authority and providing assistance for the Eagle Ridge Housing Development up on the top of the hill near the Liquor Store.
The City of Jackson/EDA has not made money on any of these projects. They were all done to provide housing that we so desperately need. There are other projects in the works that hopefully we will be able to go public with in the upcoming months. _______________________________________________________________________
We are very excited to have made the list! Our project will consist of 3 new single family homes to be constructed out in the Sunset View Subdivision on the west side of Jackson in 2023!
Original source can be found here.
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