The plan also would have the city contribute Neighborhood Sales Tax Revitalization money to the housing fund as leverage for private sector or nonprofit groups, as well as other public agency contributions.
The details of Kelly's four-year housing plan would use $20 million in STARfunds for housing; help preserve existing housing; and improve housing code enforcement.
The council specified that at least 500 units will be built for those earning 30% of the Twin Cities metropolitan area's median household income of $76,700.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
