Community Planning & Economic Development

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4d Affordable Housing Incentive Program

Minneapolis’s 4d program preserves affordable homes in Minneapolis by helping apartment building owners obtain property tax reductions if they agree to keep 20% or more of their rental units affordable. The program also helps owners make existing buildings greener through cost sharing for energy efficiency improvements and solar installations.

Proposed changes to 4d program guidelines

The City of Minneapolis is seeking public comment on the following proposed changes to the 4d program guidelines. Please provide public comments to Dean Porter-Nelson at [email protected] prior to March 14th.

Proposed changes would:

  1. Add a secondary program goal to support market rate new construction development projects that exceed the City’s minimum affordability requirements under the inclusionary zoning ordinance and unified housing policy.
  2. Enable single room occupancy (SRO) housing, rooming houses and group homes to participate in the program.
  3. Define a compliance communications strategy and clarify consequences for non-compliance, including over income tenants or rent charges to tenants that violate program guidelines.
  4. Prohibit short term rentals less than 30 days, and require that owners verify tenant incomes for any subleases.
  5. Allow property owners to reduce the number of units in the program early by paying a fee of $2,000 per unit.

View proposed changes 

What is affordable housing?

Benefits for Property Owners

Eligibility Guidelines

Owners of market-rate multifamily properties that meet the following criteria:

Property owner commitment

Record a 10-year affordability declaration on your property stating:

Application process and timeline

 

Compliance requirements and deadlines

Other important dates

Stay Informed

Sign up to receive email updates about the Minneapolis 4d Affordable Housing Incentive Program. Please email [email protected] for the fastest response, or call (612) 673-5055.  

Selling your property?

The City works several with non-profit partner organizations that can buy properties and help apartments stay affordable by utilizing City financing. For more information, please email [email protected] or call 612-673-5055.

     

 

Last updated Feb 19, 2020

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