Housing Replacement District III Plan

The City of Minneapolis is asking for input on the proposed Housing Replacement District (HRD) III Plan. Please submit comments by Monday, December 7 via e-mail to Edith Johnson, Senior Project Coordinator, Single-Family Housing Development (612-673-5262). If you or your group would like to meet to discuss the proposed plan, or if you have any questions, please contact us. Your input is important.

The HRD III Plan establishes a new housing replacement tax increment financing district for the purpose of acquiring and preparing vacant land, vacant housing or substandard housing for sale for the development of market rate housing. Up to 200 parcels throughout the city of Minneapolis may be included in the HRD III district. The proposed plan identifies an initial group of 20 parcels to be included in the district, establishes the criteria for adding parcels to the district, states the Citys objectives in undertaking the proposed development activity, establishes a budget, and identifies the fiscal impacts on local taxing jurisdictions. The plan also authorizes the use of the districts tax increment revenues for acquisition and preparation of qualified parcels located outside the district, for redevelopment as market rate housing.

The City of Minneapolis may designate up to 400 parcels to be included in housing replacement districts over the life of the districts. Housing Replacement District I and II, established in 1997 and 2003 respectively, contain 100 parcels each. Because the existing districts have reached the five-year limit on expansion, HRD III is being created at this time.

It is expected that the Community Development Committee will hold a public hearing on the proposed plan at 1:30 p.m. on Tuesday, December 8, 2009.  The hearing will be held in Minneapolis City Hall, 350 S. Fifth Street, Room 317. The full City Council is expected to consider the plan at 9:30 a.m. on Friday, December 18, 2009 in Room 317 City Hall.

Online information from the City of Minneapolis at MinneapolisMN.gov/CPED

Last updated Sep. 27, 2011