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0 GMHF's Growth Corridor Initiative
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<br /> With over $70 million in capital, Greater _
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<br /> Minnesota Housing Fund (GMHF) has been + i� 4n" + _ ���O
<br /> supporting the creation of affordable housing
<br /> in the 80 counties outside the Twin Cities metro area since including natural resources, recreation, transportation,
<br /> 1996. Launched as a joint effort of The McKnight economic development, zoning and public financing.
<br /> Foundation and Blandin Foundation, GMHF is an
<br /> intermediary through which foundations, corporations In its pilot year (2004 2005), Growth Corridor
<br /> and local employers contribute to affordable housing Initiative funding will be offered to municipalities in
<br /> through gap loans, technical support, public education Chisago, Isanti, Sherburne and Wright Counties.
<br /> and research, and special initiatives.
<br /> Catalyst for Progress and Innovation: GMHF serves Program Overview 11101 Principles
<br /> as a catalyst for progress and innovation, specializing in
<br /> creating strategically important programs that promote GMHF is launching the Growth Corridor Initiative
<br /> livable neighborhoods through wise use of land, mixed- at a critical moment in time for high growth communities
<br /> income housing, cost reduction techniques, traditional on the edge of the Twin Cities metropolitan area. While
<br /> neighborhood design and employer involvement. development pressures have,been steadily increasing,
<br /> communities have not yet lost the opportunity to conduct
<br /> A Broad and Ambitious New Initiative: Building on careful,community-driven decision making that will focus
<br /> the success and lessons of GMHF's Building Better on results and the implementation of real projects that
<br /> eghborhoods (BBN) starter home program, GMHF is will set the stage for future growth.
<br /> nching Growth Corridor Initiative, a new, broad and
<br /> ambitious initiative designed to meet the needs of high- Through partnering witlticiterested communities,and
<br /> growth,ex-urban communities along the growth corridors serving as the catalyst for other philanthropic and local
<br /> of greater Minnesota. investment, the principles of GMHF's Growth Corridor
<br /> Initiative program are:
<br /> While high population growth and rising land costs
<br /> offer tremendous economic opportunities; ute challenges ® Planning:Support effective,area-wide master planni ` T
<br /> remain for preserving the quality of life for both long that addresses needs in growing communities for affordable'
<br /> time residents and newcomers. Ensuring that the rich housing, economic development, transportation t
<br /> natural resources, small-town charm, and local infrastructure, community facilities, open space and
<br /> employment and affordable housing opportunities do not recreation, and preservation of natural systems.
<br /> disappear under metropolitan sprawl is critical to the long- ® Land Use: Promote efficient land use patterns that
<br /> term vitality of these high growth communities. support the growth of economically,environmentally,ands
<br /> Beyond a Single, Residential Subdivision: GMHF's socially healthy cities and towns.
<br /> new Growth Corridor Initiative will provide funding El Housing: Encourage development of a variety of
<br /> support for area-wide integrated planningeffts,capacity- housing types, styles and price points that meet 4.
<br /> building for planning and implementation staff, and affordability and life-cycle housing needs of growing .y
<br /> continued BBN project funding to foster large scale, communities and reduce distances which workers must
<br /> integrative model projects in greater Minnesota's growth travel to reach employment.
<br /> corridors. 4. Community Participation &Local Control.: Increase
<br /> Although GMHF's primary focus will continue to be meaningful citizen participation throughout the
<br /> the creation of affordable housing, Growth Corridor community planning process to facilitate greater public
<br /> ,iative is intended to go beyond a single residential education and awareness of local development issues.
<br /> division. Broad and flexible support will assist
<br /> communities to plan for comprehensively addressing the
<br /> range of other opportunities and challenges before them, ,
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