From the City of Minneapolis:
Seeking Public Comments on Proposed Changes to the Inclusionary Zoning Revenue Loss Offset Assistance Policy
The City invites community feedback on proposed changes to the Inclusionary Zoning (IZ) Revenue Loss Offset Assistance Policy. These changes clarify the City Council’s discretion on the approval of IZ Revenue Loss Offset Assistance and update project financing and declaration language within the policy. The purpose of these changes is to clarify the City Council will take into consideration certain factors deemed to be in the public interest, such as a developer’s property management practices that have led to the displacement of residents, before approving IZ Revenue Loss Offset Assistance. The IZ Revenue Loss Offset Assistance program is intended to offset revenue loss related to a project’s compliance with the City of Minneapolis’ Unified Housing Policy when the project elects to provide more affordability than is minimally required in exchange for receiving tax increment financing (TIF) assistance. The project financing and declaration language changes reflect the evolution of implementation objectives.
The deadline to submit comments is Monday, February 28 by 4:00 p.m. Please provide public comments to Haley Cramer. If you have questions, please contact Haley Cramer at haley.cramer@minneapolismn.gov or 612-673-5075.
It is expected that these changes will be considered at the following meetings of the Minneapolis City Council:
Business, Inspections, Housing & Zoning Committee
Thursday, March 17, 2022 at 10:00am
City Council
Thursday, March 24, 2022 at 9:30am