February 14, 2023 – Otter Tail County, MN – Otter Tail County’s Major Make initiative observed ongoing housing advancement in 2022. Past calendar year, $116.4 million in housing financial commitment was added in the County from 499 new and rehabbed housing units, 444 of these getting new construction and 55 getting rehabbed units. This is an enhance in new construction countywide in contrast to 2021.
The accomplishment in 2022 is wonderful progress towards The Large Build’s objective of 5,000 new or noticeably rehabbed houses by 2025. Considering that launching the initiative, 40 per cent of that purpose has been concluded. Far more properties are still wanted to fulfill need and realize the significant target.
The Otter Tail County Neighborhood Enhancement Company (CDA) launched The Big Make at the conclusion of 2019 as a housing growth and investment initiative. The initiative was established mainly because the growth of housing chances is a countywide precedence to handle workforce desires and existing residents’ wants. With extra than 1,000 available employment in the County suitable now, expanding the housing supply will assistance fulfill the requires of newcomers filling these job openings and current citizens looking for more appropriate housing choices.
“2022 was yet another great year of progress toward the County’s target of 5,000 units by 2025,” said Otter Tail County Commissioner and CDA Board Member, Lee Rogness. “There was wonderful curiosity in the Residence Tax Rebate Software and the six new housing finance applications made previous yr, so we’re enthusiastic to continue creating partnerships with neighborhood builders to make housing transpire in 2023.”
A robust need to have for housing remains even with the successes of 2022, and the CDA can provide assistance and means to housing projects in Otter Tail County. Many new housing finance courses ended up designed and expanded in 2022. Systems readily available to owners, home builders, and rental home owners involve:
Property owners | Home Builders | Rental Property House owners |
|
|
|
More info about the Huge Build which includes information and facts about the methods accessible for initiatives can be identified at bigbuildotc.com.
hyperlink
More Stories
Co-op Housing Development Program
Task Force for Housing sector development holds second meeting
AHFC’s Last Frontier Housing Initiative Jumpstarts Affordable Housing in Western & Southeast Alaska