developers that saw value in building in a smaller community– too much risk and not enough return,” he explains. THE CITY CREATES HOUSING The City now offers a 24-unit apartment building that opened in 2004, and the 37-unit, $6.8 million Eleven01. Both are owned by Roseau’s own Economic Development Authority (EDA). The Eleven01 was financed by a mix of bonds and cash from the city and the Northwest Minnesota Multi-County Housing and Redevelopment Authority, state funds from a grant program for the construction of workforce housing, and donations from local businesses. Polaris, alone, donated $100,000. “We developed two apartments and we’re looking at a third,” Peterson relates. “The city also got involved in subdivision developments because, again, private developers can’t see enough return on investment.” Mayor Fabian explains. “The previous mayor and council before I came on board had some creative ideas. They sold the lots and then after a house was built, and you’re hooked up to the city sewer, water, garbage, and electricity, a $7,500 rebate was provided to subsidize the overall development. That helped reduce the cost to new homeowners, but discouraged speculative lot buying. As we move forward with more projects, I hope that we can continue to create incentives, but at the same time make sure that we’re covering our costs to do those things.” “We’ve had lots of housing growth, which resulted in new infrastructure being extended further out and we’ve built a lot of trails and parks across the community. We recently completed a $4 million expansion at the airport and the city and State of Minnesota are working on two very large projects on both main highways coming into the community. So, there’s been a lot going on since 2002 when the city was impacted by a significant natural disaster and there have been a lot of changes in the community.” NEW BUSINESS GROWTH Peterson reports that the Roseau Industrial Park on KMS is a family owned manufacturing business. We specialize in hydrographics, logistics, assembly, welding and fabrication. Quality Stainless Steel Outdoor Stoves with an Industry Leading Lifetime Warranty. Heatmor.com • 1-800-834-7552 KMFGSolutions.com 46 CIVIL AND MUNICIPAL VOLUME 5, ISSUE 03
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