While the city has partnered ….
While the city has partnered with a development firm to attempt to tap into a competitive tax credit program for a 40unit complex on a parcel north of Northcentral Technical College Campus, Wellner noted that it will be at least two years before any of those units could be available and that is dependent on the credit program being accepted.
While he said there is urgency for more shorter-term solutions, Wellner cautioned that any efforts will take some time. “It is something we are working on and continue to work on,” he said. “We cannot snap our fingers and make it happen.” He recognized that the pace can be frustrating, but assures business leaders that it is a high priority.
Wellner’s comments came after presentation from Pat Keefe, a housing consultant based in the Minneapolis-St. Paul area. Keefe, a native of Medford, has years of experience working with housing efforts in both Minnesota and Wisconsin.
He said that Medford’s housing issue is one that is seen in many rural communities where there is less availability for housing for both those starting out and those looking to downsize after retirement. Keefe said Medford is unique in that it is experiencing a local economic boom with wages rising and workers in demand. In addition, he said Medford is also special in that not only is it home to larger businesses, but that the businesses have strong ties to the community and have interest in being partners to help the community grow.
Keefe layed out options that have been utilized in other communities in order to address housing issues and proposed the city look at the currently vacant industrial park land along Pep’s Drive south of CTH O near Gibson Ave. He suggested developing a public/private partnership that would include a “stack” of players from local private investors, industries and government to leverage financing for construction of a 45-unit three-story apartment building which would rent at market rate of $889 per month for one bedroom or $929 per month for two bedroom. He noted this is within the range of workers making $20 to $25 per hour based on standard affordability ratios.
Alderman Dave Brandner who is a longtime local real estate agent, said those rates would not be out of line with what current rental rates are in the area. Keefe noted that in his experience they could command better rates, and reduce construction expenses, by one larger building rather than a number of smaller ones.
Wellner noted the Medford Area Development Foundation has been working on the idea for the past six months. Tuesday’s presentation to the city council was to bring them up to date on what was being considered. MADF members are continuing their efforts. MADF is a private development organization that works closely with the city for economic development efforts.
In other business, aldermen:
_ Approved a six-month beer license for Medford City Baseball for the Jaycee Concession Stand located at 701 Centennial Parkway. License allows the sale of beer from the stand from May 19 to November 18.
_ Approved a class B beer license for El Pueblito Mexican Restaurant at 149 South Main Street in Medford. The license is good until the end of June 2021 when it will be renewed for the regular two-year cycle.
_ Denied an operator’s license to Samantha Jurena due to a Price County OWI conviction in February. The denial came at the recommendation from Police Chief Chad Liske. Under state law, Jurena has the ability to appeal the decision.
_ Received an update on the Shattuck St. project that the contractors have completed the utility service connections and will be looking at starting the road portion of the reconstruction project soon.
