<div>General ManagerThe City of Cokato is seeking a developer to build a new multifamily rental housing project, with $280,000 in city funding available to help make the development possible.The city released a request for proposals Nov. 10, inviting qualified developers and builders to submit plans for a rental housing project in Cokato. Proposals are due by Dec. 21 at 5 p.m.According to the city’s request for proposals, the project aims to create between four and eight new rental housing units. Developers proposing more than eight units may receive additional consideration during the selection process.The city established a Local Housing Trust Fund in 2025 and subsequently received a funding award through Minnesota Housing. The available $280,000 will be provided to the selected developer as a zero-interest loan for a term of five to 10 years.The funding is intended to help close financing gaps and encourage the construction of additional rental housing in the community.The city is not identifying a specific property for the project. Instead, developers will be responsible for finding potential sites, negotiating land purchases and determining whether the properties are suitable for development.Potential projects could include townhomes, twin homes or multifamily buildings. The city is leaving the design flexible but is seeking housing that fits the character of the surrounding neighborhood.Under the proposal, rental units must be made available to households earning no more than 115% of the state median income. The current income limit identified in the city’s request is $136,735.The selected developer will be responsible for developing, owning, marketing and operating the housing project. The city would provide the $280,000 in financing, which could be forgiven if the developer fulfills the development agreement and continues to rent the units to households meeting the income requirements.The city plans to select a preferred developer or builder at its Jan. 11, 2027, City Council meeting. Construction is expected to begin no later than Sept. 1, 2027.The city reserves the right to reject proposals or change the project timeline.Additional information about the proposal process is available through the City of Cokato. Questions may be directed to City Administrator Brad Potter at 320-286-5505.</div>

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The City of Cokato is seeking a developer to build a new multifamily rental housing project, with $280,000 in city funding available to help make the development possible. The city released a request for proposals Nov. 10, inviting qualified developers and builders to submit plans for a rental housing project in Cokato. Proposals are due by Dec. 21 at 5 p.m.

Cokato seeks developer for new multifamily housing project

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The City of Cokato is seeking a developer to build a new multifamily rental housing project, with $280,000 in city funding available to help make the devel

Cokato seeks developer for new multifamily housing project

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