Otter Tail County sees Housing Growth in 2023
January 29, 2024 – Otter Tail County, MN – Otter Tail County’s Big Build initiative saw continued housing growth in 2023. Last year, over $100 million in housing investment was added in the county from 491 new and rehabbed housing units, 410 of these being new construction and 81 being rehabbed units.
The success in 2023 is great progress toward The Big Build’s goal of 5,000 new or significantly rehabbed homes by 2025. Since launching the initiative, 51 percent of that goal has been completed. More homes are still needed to meet demand and achieve the big goal.
The Otter Tail County Community Development Agency (CDA) launched The Big Build at the end of 2019 as a housing growth and investment initiative. The initiative was created because the expansion of housing opportunities is a countywide priority to address workforce needs and existing residents’ needs. With more than 1,000 available jobs in the county right now, increasing the housing supply will help meet the needs of newcomers filling these job openings and existing residents seeking more suitable housing options.
“We are seeing the success of partnerships for housing investment in Otter Tail County, even in the changing and more difficult market for development,” said Otter Tail County Board Chair and CDA Board Member, Kurt Mortenson. “We want to make sure housing partners making these investments know that the county can be additive and supportive with resources, financial and otherwise.”
A strong need for housing remains even with the investments to date, and the CDA can provide support and resources to housing projects in Otter Tail County. Programs available to support homeowners, homebuilders, rental property owners, developers, and cities include:
- Property Tax Rebate Program
- Down Payment Assistance
- Emergency Housing Repair
- Residential Owner-Occupied Loans
- Rental Rehabilitation Loans
- Multi-Family New Construction Loans
- Community Growth Partnership Grants
More information about the Big Build including information about the resources available for projects can be found at bigbuildotc.com.
