EDAC - 06.11.26

The City of Minnetonka Economic Development Advisory Commission (EDAC) met on June 11, 2026, to review the initial draft of the Economic Improvement Program (EIP) focusing primarily on housing and business development initiatives for 2027 and a five-year forecast. Key procurement-related discussions included funding allocations for various housing programs such as Homes Within Reach, Pathways to Home Ownership, and the Affordable Housing Trust Fund, with specific budget figures like a $500,000 allocation for Pathways and $125,000 from the HRA levy for Homes Within Reach. The commission also discussed leveraging pooled funds from the Hennepin County Community Development Block Grant (CDBG) through an RFP process for larger projects. Business outreach efforts and programs like the PACE energy efficiency financing were highlighted, including the city's new role in administering PACE assessments in partnership with the Saint Paul Port Authority. Additionally, updates on major development projects, zoning code rewrites, and new policies such as short-term rental regulations and encampment policies were presented. The meeting concluded with plans for further reviews and a scheduled tour of recent housing projects.