Envision Shakopee

PRESERVE EXISTING HOUSING STOCK Existing housing in Shakopee, particularly older homes, can offer prices that young families can afford. Houses in this category are referred to as Naturally Occurring Affordable Housing (NOAH). In addition to encouraging multifamily options that will free-up existing stock to the market as described previously, the City should encourage preservation and rehabilitation of the existing stock. These are low-cost programs that add value to existing homes, improving marketability and preservation of older neighborhoods. The Greater MN Housing Fund, in partnership with the Mcknight Foundation, have started a program in response to housing affordability issues found throughout the state, called the NOAH Impact Fund. The first round of this fund raised millions of dollars to protect 1,000 units in the state from price increases and is looking to raise capital for another round to purchase and preserve 1,000 more units statewide. This program could be an opportunity for Shakopee to preserve existing affordable housing from potential rent and housing increases in the future. Programs and opportunities for the maintenance of existing affordable housing may include the promotion of state and county loans for home improvements, such as: » The Minnesota Housing Finance Agency’s Fix-Up Program. » The Carver, Dakota, and Scott County Weatherization Assistance Program. In addition to older homes which should be preserved to increase affordable options, Shakopee is home to several mobile and manufactured home parks either in the city limits today or within Jackson Township and could potentially be within Shakopee in the coming years. These homes should also be preserved, if not in place, in number. If development pressure occurs on the site off of First Avenue or the site located in Jackson Township southwest of the CR-69/U.S. Hwy- 169 interchange, a possible preservation strategy would be consolodating these units with the much larger park located northwest of the CR- 69/U.S. Hwy-169 interchange known as Bonnevista Terrace Mobile Home Park. This would allow for this form of affordable housing to remain and lower the possibility of this type of housing leaving the city. Key to the expansion of the largest park will be providing municipal services. It is recomended the city explore opportunities in servicing this area to allow the expansion of the site to consoldate other sites within the city (if neccessary) and to maintain this vital affordable housing option.

88