Community Planning & Economic Development
 

Planning and Zoning
Public Service Center
250 S. 4th St., Suite 300
Minneapolis, MN 55415
311 or (612) 673-3000

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Minneapolis Homes purpose is to reduce property vacancy, create new housing units, and sustain homeownership in the City of Minneapolis.

We provide educational, financing, and property opportunities to homebuyers, homeowners, and developers to create and sustain housing in the City of Minneapolis.

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Long Term Affordable Housing Policy Study

Property Opportunities

City-owned land that can be used towards housing development.

Additional Resources for Homebuyers Purchasing City-owned Property

 

Financing Opportunities

Financial tools and assistance to create and sustain housing in Minneapolis

For Homebuyers

For Developers

For Homeowners

For Landlords

 

Educational Opportunities

Trainings and educational resources that build capacity to access homeownership and development opportunities. View available move-in ready homes created through City programs

For Homebuyers

For Developers

  • D-TAP: The Small Developers Technical Assistance Program (D-TAP) is focused on building the capacity of small, women, and/or people of color-owned developers by providing education on the real estate development process, and connecting developers to opportunities to work with the City of Minneapolis.
  • Target Market Program: Through the Target Market Program, qualified small businesses will have the ability to respond for City contracts up to $100,000 instead of competing against larger, more established companies.
  • Minneapolis Employment and Training: A variety of tools and resources are available to help businesses and individuals with employment, training, and talent recruitment.
  • Urban Land Institute’s Real Estate Diversity Initiative (REDi): learn what it takes to put together a successful development, eligible to people of color and women.

For Homeowners

For Landlords

Glossary: Definitions of key terms used throughout this website and for housing programming

Affordability Gap – The difference between the appraised value of a home and the amount that a homebuyer can afford to pay for a first mortgage.

Area Median Income (AMI) – If everyone’s incomes in the Twin Cities Metro area were lined up lowest to highest, the area median income would lie directly in the middle. AMI varies by household size.

Developer – individual or entity that is responsible for putting a deal together and contracts with the City of Minneapolis

Development Assistance – Money that can be used by developers to purchase, rehabilitate, or build, and ultimately sell a home. Development Assistance can be used to fill a project/value or affordability gap

Down Payment Assistance/Homebuyer Assistance – Money that can be used by homebuyers to assist in making a down payment or paying for closing costs.

HUD – U.S. Department of Housing and Urban Development (federal funding source)

Long-Term Affordability (LTA) – Properties that are restricted to be affordable to owners earning 80% AMI or below for 30 years

MN Housing – State agency that provides funding previously referred to as MHFA

Offer to Purchase – A written contract that defines the terms under which a buyer agrees to purchase property

Project Gap/Value Gap – The difference between the total development cost of a property and its fair market sale price once completed

Request for Proposals (RFP) – A bidding process through which individuals or organizations interested in providing development services to the City submit proposals to participate in a program

Request for Qualifications (RFQ) – A process through which individuals or organizations interested in participating in a City program prove their qualification criteria and/or eligibility

Terms – The conditions under which an agreement is made.

Zoning Code – A set of city regulations and law that defines how property in specific geographic areas can be used 

  

For more information contact Minneapolis Homes.

Last updated Aug 16, 2019

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Para asistencia 612-673-2700, Yog xav tau kev pab, hu 612-637-2800, Hadii aad Caawimaad u baahantahay 612-673-3500. 

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