EDAC - 08.13.26

The City of Minnetonka Economic Development Advisory Commission (EDAC) met on August 13, 2026, to discuss the 2027-2031 Economic Improvement Program (EIP) and housing updates. Key procurement-related topics included budget allocations for affordable housing programs, such as a $100,000 levy contribution for down payment and rehabilitation programs, $125,000 for the Homes Within Reach program, and $50,000 for emergency rental assistance. The commission reviewed funding sources including the Affordable Housing Trust Fund and the Metro Housing Sales Tax (LAA), noting programmatic restrictions and reporting requirements. Discussions also covered potential use of new LAA funds for affordable rental subsidies and the need for ongoing allocations to sustain rental assistance services. The commission recommended the EIP document for city council approval by unanimous vote. Additionally, updates on transit-related capital improvements, including lighting and wayfinding projects in the Opus area and pedestrian safety enhancements near the Bren Road light rail station, were provided. The meeting also touched on business development initiatives, including social media outreach and potential redevelopment financing policy adjustments. No specific contract awards or vendor selections were detailed, but the meeting emphasized strategic budget planning and program funding to support housing affordability and economic development goals.