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Community Land Trust Update201 1 st Avenue East Kalispell, MT 59901 406.` 58.7740 Fax: 406.758.7758 City of Kalispell * www.kalispell.com Office of Community & Economic Development To: The Honorable Mayor Kennedy and Kalispell City Council Members Cc: Myrt, Webb, Interim City Manager g From.: Nellie Danielson, Community & Economic Development Department RE: Work Session following Council meeting on January 51h; Subject: Community .and Trust Update Date: December 30, 2008 On Monday, January 5 h, the agenda for the workshop after the City Council sheeting is an update on where the community is in regards to a Community Land Trust concept. Due to program funding becoming available in 2009 to local units of governments and not--for-- profits we formed an advisory group from the private and public sector to assist in developing a concept on how to organize and sustain a community land trust to support workforce housing. The advisory group will meet on January 5'h and 6 h with an expert in the community land trust field, assisting the group on developing a business plan. Specifically the advisory group's goal is to determine how much the land trust concept will cost and how do we sustain it. The Federal Government has authorized funding from HUD to flow to the individual states for the purpose of purchasing foreclosed properties. The funds will pass through the state's CDBG programs. The name of the funding program is called the Neighborhood Stabilization Plan (NSP). The focus is to stabilize neighborhoods that have been hit with numerous foreclosures. First quarter of 2009 the City's CD department along with NW MT Human Resources will apply for the funds to purchase foreclosed homes or vacant property to place in a local community land trust. There is no snatching dollar requirement to apply but we know the organization managing the trust will have to have seed money and the NSP is a good start. The Northwest Montana Human Resources and the community development department of the City have collectively raised both private and public sector funds to bring Mr. Michael Brown of Burlington & Associates to Kalispell to meet with an advisory committee in formulating an operations and financial feasibility plan for the future land trust. Mr. Brown is a nationally known expert in advising municipalities and organizations on community land trust issues. We have requested Mr. Brown to present at the workshop a brief community land trust overview and hove it can impact workforce housing. We are seeking Council's support for the CD department to continue to explore the community's ability to create and support a not -for -profit community land trust with the NSP funding in mind.