With the legislative session running on full steam in both Minnesota and North Dakota, legislation moves forward with both states having adequate revenues to get some productive results. As a member and advocate for both the F-M Area Association of Realtors & F-M Home Builders Association, we monitor issues which may have an impact on our real estate industry. I have been to the Minnesota Capitol twice this session and perhaps may go again if called upon. Here are a couple of key issues I would like to share:
Border Cities Legislation
This legislation is being brought forward by legislators who represent the Cities of Breckenridge, Dilworth, East Grand Forks, Moorhead and Ortonville. They hope to have a bill passed which allows these border cities to adopt a building code which will be more in line with their neighboring North Dakota or South Dakota cities. The adopted building code would be no less stringent than its bordering state and is limited to single and two family dwellings and townhomes. If passed, the bill would assist these Minnesota properties in being more cost competitive with their neighboring cities.
Permanent Flood Protection
Both the Cities of Fargo & Moorhead continue to lobby for more state funding to complete levies inorder to have minimum 100 year flood protection. Fargo has several miles of levies yet to be built and Moorhead still needs to complete the flood protection for the Oakport addition.
The Diversion Project still awaits the results of the Minnesota DNR Environmental Impact Study and the NDSU Economic Impact Study. Once those results are published, public hearings and legislative responses will begin to decide how to fund the project.
If you would like more detailed information about this topic or residential properties, please email me at firstname.lastname@example.org. I look forward to helping you. Your email and name will always be held in full confidence.
Next week… I look forward to bringing you more “Speaking of Real Estate” when I will discuss Absorption Rates in our local real estate market.