Economic Development Commission - 13 May 2026

The City of Burnsville Economic Development Commission held a meeting on May 13, 2026, which included updates and discussions relevant to local economic and housing initiatives. A key procurement-related topic was the presentation on the newly launched down payment assistance program funded through Local Affordable Housing Aid (LAHA) funds. The program, approved by the City Council and Economic Development Authority, offers up to $41,000 in forgivable loans to support homeownership for families at or below 80% Area Median Income (AMI), with a cap on home purchase prices at $410,000. The program aims to address housing affordability gaps and promote long-term residency and generational wealth building. Administration of the program is contracted to the Center for Energy and Environment, with ongoing outreach to local realtors and nonprofits. The commission also discussed potential future partnerships with Habitat for Humanity to support affordable housing projects. Additionally, the commission considered but tabled a motion to change the meeting start time from 6:30 p.m. to 6:00 p.m., deferring the decision to a future meeting.