Economic Development Authority
Mission Statement
The mission of the Shoreview Economic Development Authority is to facilitate economic growth by supporting existing businesses, foster reinvestment in residential neighborhoods and commercial areas, and promote the creation of new business, employment and housing opportunities in order to sustain and enhance the economic vitality and quality of life in the community.
Members
The EDA Board of Directors is appointed by recommendation of the Mayor and approval by the City Council. The EDA is a volunteer organization dedicated to studying and providing solutions to ensure that Shoreview's economic development remains in good condition thereby stabilizing and increasing the tax base.
Blake Huffman (Term Expires: 12/31/2012) President
Ben Withhart (Term Expires: 12/31/2014) Vice President
Gene Marsh(Term Expires: 12/31/2014) Treasurer
Terry Quigley (Term Expires: 12/31/2014)
Emy Johnson (Term Expires: 12/31/2012)
Meeting Schedule
The EDA meets on the second monday of the month at 5 p.m.
Strategic Planning
Business Retention and Expansion Strategic Plan→
Projects and Initiatives
Shoreview Home Energy Improvement Loan Program
The City launched the new Shoreview Home Energy Improvement Loan Program (SHELP) to qualifying residents and prospective homebuyers to encourage reinvestment and energy efficient home improvements in the community. The loans are for home improvements such as new roofs, and energy efficient upgrades to windows and doors, heating and cooling systems and water heaters.
Business Partnership Loan Program
The City developed Advantage Shoreview – Business Partnership Loan Program, including objectives and guidelines. Advantage Shoreview is structured to promote the retention and expansion of local businesses with an emphasis on creating jobs. Upon its approval, the business loan program was promoted to the local business community with priority given first to the key businesses included in the Business Retention and Expansion (BRE) Program since there is limited available resources and tight timeframe for providing assistance under the special TIF authority granted.
Annual Report
Housing Resources
Shoreview Home Energy Improvement Loan Program
The City of Shoreview is offering a home energy improvement loan to residents to encourage home renovation and increase the home values within the city. This program provides a maximum loan of $20,000 to make energy upgrades to single-family detached homes. Eligible improvements include energy efficient heating and cooling systems, insulation, windows, doors and water heaters. Roof replacements are also eligible. To qualify, household income cannot exceed 120% of the Shoreview median household income ($119,776 for a family of four). The interest rate is fixed at two points above the prime rate. The loan term cannot exceed ten years. The borrower is eligible for a rebate of the total interest paid if they reside in the home for ten years after the loan is incurred.
View more information on the Home Improvement Loan Program →
View the Home Improvement Loan Program Brochure→
Ramsey County
Ramsey County's Community and Economic Development receives federal entitlement Community Development Block Grant and HOME Investment Partnership Program funds that are reinvested in suburban Ramsey County. It is the goal of Ramsey County to improve the quality of life for our citizens by working with our partners to revitalize communities, maintain our existing housing stock, expand homeownership and affordable housing opportunities, and encourage job growth. Local resources are available to county residents, businesses, property owners and developers.
Minnesota Housing Finance Agency
As the State's affordable housing bank, the Minnesota Housing Finance Agency offers products and services to help Minnesotans buy and fix up homes and we support the development and preservation of affordable rental housing by offering financing and on-going asset management of affordable rental housing developments.
Visit the Minnesota Housing Finance Agency website at www.mnhousing.gov →
Business Development Resources
Advantage Shoreview Business Partnership Program
Advantage Shoreview–Business Partnership Loan Program to provides low-interest loans up to $500,000 to existing businesses for the purpose of job growth and retention. The business loan program is available to support businesses that are considering expansions in the near future. Advantage Shoreview business loan program is supported through development funds of the City that through special legislative authority allows us to provide assistance if an eligible project can get underway by July 1, 2011 with the loan funds spent by December 31, 2011.
View Advantage Shoreview Business Partnership Loan Program Application →
Foreclosure Prevention
News of home foreclosures, in Minnesota and across the country, has permeated from media outlets with increasing frequency. Once a property is designated a foreclosure, the typical redemption period is six months. During this period, the property is essentially "on hold" until the owner does or does not redeem it. Once the outcome is known, either the owner or the newly controlling mortgage company (or other party) can move forward. Please note individual circumstances may vary.
The foreclosure process begins when the homeowner fails to make payments of the money due on the mortgage at the appointed time. Several factors contribute to a failure to make payments, which include: unemployment, divorce, medical challenges, terms of the loan, sick of property management and even death.
For more information, visit the City's Foreclosure Prevention webpage →
HousingResource Center
The HousingResource Center is a program of the Greater Metropolitan Housing Corporation (GMHC). GMHC's mission is to preserve, improve and increase affordable housing for low and moderate income families, as well as assist communities with housing revitalization.
The HousingResource Center is a community service for homeowners and provides comprehensive free housing services to all residents of participating communities, while also improving the community and its housing stock. The HousingResource Center provides numerous services, including individual, high quality, complete assistance through the purchase, financing, refinancing or construction/renovation process.
Visit the HousingResource Center website at www.housingresourcecenter.org →
Rondo Community Land Trust
Rondo CLT is a non-profit, community-based organization operating in suburban Ramsey County that creates and preserves homeownership for low and moderate income households. Rondo provides access to home ownership for those who cannot afford homes that are for sale on the real estate market and prevents existing homeowners from entering into foreclosure by becoming part of the Rondo CLT land trust.
Visit the Rondo Community Land Trust website at www.rondoclt.org →
Habitat for Humanity
Habitat for Humanity of Minnesota, Inc., (HFH-MN) is a state-wide resource development and support organization that serves, advocates for, and advances the work of Minnesota's Habitat for Humanity affiliates to build simple, decent, affordable housing in partnership with people in need. Habitat for Humanity was created to identify and serve the needs of Habitat affiliates in the state of Minnesota as they pursue the creation of decent, safe, affordable housing for those in need.
Visit the Minnesota Habitat for Humanity website at www.hfhmn.org →
General Housing Information
Shoreview is committed to maintaining and promoting a wide variety of high quality housing options throughout the city. Shoreview is located just 10 miles north of St. Paul and Minneapolis amidst a beautiful natural landscape. Shoreview's beautiful environment includes lakes, parks, wetlands and open space areas. There are 11 lakes in the community, with 3 public beaches. Residents enjoy outdoor recreation in 14 parks and the City has more than 50 miles of trails and sidewalks.
Shoreview supports a wide selection of housing options from condominiums, townhouses, modest starter homes and luxurious excutive-style homes.The median home cost in Shoreview is approximately $330,000 and Shoreview consistently ranks among the finest places to live in the Twin Cities, thanks to its low crime, amazing recreational activites and educational opportunities.
Visit the City's Housing webpage at www.shoreviewmn.gov/resources/housing for more information. →
Contact Information
Staff Liaison: Tom Simonson, Community Development Director
651.490.4612