Dec. 4, 2019 (MINNEAPOLIS) The City of Minneapolis is accepting applications for the Minneapolis 4d Affordable Housing Incentive Program, which helps property owners obtain property tax reductions for agreeing to keep a portion of rental units affordable for 10 years.

The 4d program has preserved over 700 units of affordable housing since it launched as a pilot program in 2018. It is one of many strategies the City has implemented to address the affordable housing crisis in Minneapolis.

Program benefits

• 10-year eligibility for 4d property tax rate, which provides a 40% tax rate reduction on qualifying units. The reduction is prorated so, for example, if you enroll 50% of the units in the building the reduction is about 20%.
• Free or low-cost energy assessments and City cost sharing for solar energy installations and energy efficiency improvements.
• A grant to each 4d property, in the amount of $100 per affordable unit, capped at $1,000 per property, along with payments of first year state and county fees.

Owners of market-rate multifamily properties with two or more units and a Tier 1 or 2 rental license are eligible to apply. At least 20% of the property’s rental units must be affordable to households making 60% of the area median income (AMI). Applications will be accepted and reviewed on a rolling basis until Jan. 8, 2020.

For more information, visit the program website: minneapolismn.gov/4d, email 4dprogram@minneapolismn.gov or call 612-673-5055.

Upcoming 4d program events

6:30 p.m.-8 p.m. Thursday, Dec. 12
Workshop with the Whittier Alliance Neighborhood Association
Minneapolis College of Art and Design, 2501 Stevens Ave., auditorium 150
Learn more and register for the event.

9 a.m.-10:30 a.m. Monday, Dec. 16
Workshop with the Minnesota Multi Housing Association
1600 W. 82nd St., Suite 110, Bloomington
Learn more and register for the event.


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