County board recognizes local emerging and diverse developers
Saint Paul, MN – More than 45 local emerging and diverse developers were recognized by the Ramsey County Board of Commissioners on Oct. 17 as the inaugural cohort to complete the county's Emerging and Diverse Developer (EDD) Program. They received official Certificates of Completion signed by the County Board Chair in recognition of their achievement.
"This is so exciting to see the future of Ramsey County right before our eyes, said Ramsey County Board Chair Trista Martinson (District 3). "We know this is going to be a huge success and we look forward to seeing the outcomes."
Ramsey County's EDD program is designed to promote the active involvement of emerging and diverse developers in the affordable housing development community and address racial disparities within the real estate industry. The program aims to provide emerging developers with equitable opportunities to thrive in the early stages of the development process.
"I think about all the great opportunity that can happen with new entrepreneurs, business individuals and emerging developers, said Ramsey County Commissioner Rena Moran (District 4). " We have an asset here. I'm really happy to hear so many individuals are focusing on affordable housing."
In the last six weeks, EDD participants have engaged in peer and cohort learning sessions and have received one-on-one coaching from technical assistance providers including: NEOO Partners, Urban Land Institute Minnesota and Baker Tilly - Minnesota. This level of support is intended to assist developers that own between zero and five housing properties in navigating the complexities of housing development and equip them with the knowledge and confidence needed to successfully seek and secure public funding for affordable housing projects.
"It's huge for me to build in the community where I live, where my children are going to grow up to make sure they have everything that they need to grow," said EDD program graduate Rochelle Washington.
The EDD program aligns with the county's strategic priorities and Economic Competitiveness & Inclusion Plan, which seeks to foster economic prosperity, invest in neighborhoods with high financial poverty concentrations and enhance access to opportunity and mobility for all residents and businesses.