HRA continues work to develop housing trust fund

The Cook County Housing Redevelopment Authority (HRA) continues working toward creating a local housing trust fund, an initiative in the works for over a year.

The fund would support the development, preservation, and rehabilitation of Cook County homes and mixed-income housing projects.

During the Aug. 18 meeting, the HRA board reviewed a draft housing trust fund ordinance and guidelines.

The guidelines presented at the meeting state that the priorities and targeted population are moderate, low, and very low income levels, based on Area Median Income (AMI), which the U.S. Department of Housing and Urban Development determines.

Through various mechanisms, the fund could support programs for workforce housing assistance, rental stabilization assistance, homebuyer assistance, rehabilitation, and new construction or pre-development costs.

The proposed ordinance and guidelines drew on local housing trust fund policies and language already established by several other HRAs across Minnesota.

HRA Executive Director Jeff Brand said that, in working with the Minnesota Housing Partnership agency to evaluate what worked or hasn’t worked in other counties, he said, the Cook County HRA adopted various rules and guideline components to craft a housing trust fund that is tailored to Cook County.

While details of the trust fund are still being developed and finalized, Brand said one potential funding source is the 1% voluntary surcharge collected through Cascade Vacation Rentals, which has generated roughly $100,000 over the years. Additional funding sources would be needed to sustain the fund, either through state funding, philanthropic organizations, private donations, or other avenues.

“It’s going to take some investment at some level to keep the fund sustainable,” Brand said.

The HRA board will continue refining the ordinance and guidelines in the coming months before taking formal action on the proposal.

“The goal is to have any changes done to the draft ordinance here in the next week or so,” Brand said. Once the ordinance is finished, the HRA will hold a public hearing to allow the public to comment on the proposed ordinance and guidelines before voting on the matter.

See the full proposed ordinance and guidelines here: August 2026 Agenda – HRA

WTIP’s Kalli Hawkins spoke with HRA Executive Director Jeff Brand about the ongoing work to develop the housing trust fund and talk about other housing-related projects in Grand Marais. Audio below.

Kalli Hawkins August 24, 2026