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<br />Strategic Initiative 5: <br />Build capacity to produce workforce housing <br /> <br />The development of market-rate housing at the lower end of the market still <br />requires technical expertise of developers to assemble the necessary complicated <br />"layer cake" of financing resources. It requires investment of capital and expertise <br />in the housing development process. <br /> <br />Provide technical assistance to local developers and attract investors. Get help with <br />syndicating investments. <br /> <br />Assist nonprofit housing development corporations such as Beyond Shelter and <br />Lakes and Prairies Community Action to increase their ability to produce more <br />housing. <br /> <br />Do a demonstration community land trust. <br /> <br />Utilize a greater number of resources such as Fannie Mae's American Community <br />Fund and its investment arm. Federal Home Loan Bank Affordable Housing Fund <br />is accessible via local member banks. <br /> <br />Increase the number and competitiveness of Tax Credit applications in Moorhead <br />and Dilworth with the Minnesota Housing Finance Agency. <br /> <br />Advantages. There is ample developer interest in developing affordably priced <br />single-family homes. However, this strategy will enable local nonprofit <br />corporations and local rental project developers to produce housing at the lowest <br />end of the market. <br /> <br />Increasing capacity to produce also increases the capacity to take risks to develop <br />housing as part of neighborhood revitalization efforts. <br /> <br />ACTION <br /> <br />,( Fargo and Moorhead public housing authorities as weIl as the Cass and <br />Clay redevelopment authorities can pull in outside technical resources <br />for training and partnership with local for profit and nonprofit <br />developers. <br /> <br />40 <br /> <br />Linda S, Dormcily. /\.1.( .1'. <br /> <br />i'\ ugllsl 2()(I(, <br />