Tom Streitz
Director of Housing Policy & Development
City of Minneapolis
Racial Disparity in Home Ownership
Volume and percentage rate of homeownership by white and non-white Minneapolis households
Sources: 2000 Census and 2000-2009 American Community Survey
58%61% 60% 60%
63% 63% 61%64%
60%63% 61%
21%
31% 29% 30%26%
31% 28%23%
36%
28%31%
-
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
2000Census
2000ACS
2001ACS
2002ACS
2003ACS
2004ACS
2005ACS
2006ACS
2007ACS
2008ACS
2009ACS
Hou
sing
uni
ts
0%
10%
20%
30%
40%
50%
60%
70%
White Non-white
White homeownership rate Non-white homeownership rate
Emerging Market Homeownership in Minneapoliso 2010:
oWhite Non-Hispanic 59%o Emerging Market 25%oGap 34%
o Source: 2010 Minnesota Baseline Housing Measures Report, o McKnight Foundation & HousingLink
o Concentration of Vacant, Boarded, and Condemned Properties
o Concentration of Foreclosures
o Minneapolis Housing Investments, 2010
Prevention
o Outreach and counseling
o Costs: o $500 to prevent a
foreclosure, o $78,000 once in
foreclosure
Reinvestment
o Aggressive property acquisition and developmentoNeighborhood Stabilization ProgramoLank Banking and First LookoNorthside Cluster DevelopmentsoStrategic Acquisition Fund
Minneapolis NSP Employment
o NSP Contractors include:o 28% Minority-owned Business, o 12% Women-owned Business, and o 27% Section 3 low-income contractors.
o $9,484,243 total contracted.
o NSP provided nearly 84,000 hours of employment to these contractors.
Neighborhood Investments That Work
Before
After
Cluster Strategy
EcoVillage
Repositioning
o Community Building and MarketingoMinneapolis AdvantageoMinneapolis Advantage NSP
Impact of Neighborhood Stabilization
Leveraging the AHTF
$-
$20,000,000.00
$40,000,000.00
$60,000,000.00
$80,000,000.00
$100,000,000.00
$120,000,000.00
$140,000,000.00
2003 2004 2005 2006 2007 2008 2009 2010
PR
OJE
CT
FU
ND
ING
YEAR
AHTF
LEVERAGEDFUNDING
Housing Development
Rank 2006 2007 2008 2009 2010
1 Minneapolis1,571
Minneapolis1,012
Bloomington 464
Shakopee 328
Minneapolis865
2 Woodbury696
Woodbury459
Minneapolis 417
Minneapolis & Blaine274 (tie)
Woodbury517
3 Lakeville448
St Paul409
Lakeville414
- Blaine331
4 Otsego428
Lakeville374
Woodbury351
Woodbury245
Maple Grove309
5 Brooklyn Park419
St Paul Park308
Maple Grove328
Maple Grove232
Bloomington286
Minneapolis Affordable Rentals
o 2010:o 207 new affordable units createdo 442 units preserved or stabilized
o Source: 2010 Minnesota Baseline Housing Measures Report, o McKnight Foundation & HousingLink