In 2017, Fairmont issued 284 residential permits, down 27 from 2016. Despite the decline, the total value of residential permits increased $2,900,000 from 2016 to 2017, totaling over $4,700,000. Currently, numerous projects are in various stages of approval, indicating 2018 will be another strong year for residential construction.
In collaboration with Fairmont Area School ISD 2752, a housing development with twenty residential lots evolved. The school‐owned site was sold to the City of Fairmont for $1 with the agreement that the district would receive $10,000 with each lot sold. The City invested $1.4 million into building the infrastructure, such as streets, utilities and sidewalks. As of December 31, 2017, five of the twenty lots have been sold.
Small Cities Development Program (SCDP) Grant
FEDA oversees the SCDP which was funded in the amount of $305,250 in 2016 by the Department of Employment and Economic Development. With partnerships and additional funds available from Minnesota Valley Action Council and USDA Rural Development programs, the total project amount was raised to $517,500. Funds were allocated for the rehabilitation of 15 owneroccupied, single‐family homes in the target area (properties south of Blue Earth Avenue and east of Albion Avenue, Fairmont) pending the owners’ income qualifications. Rehabilitation priorities focus on health, safety and weatherization projects. FEDA and the Minnesota Valley Action Council are currently administering this project.