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Agenda

An outline of matters presented during the meeting arranged by a prescribed order.

Housing Policy & Development Committee Agenda

Standing Committee of the City Council
and
Minneapolis Community Development Agency Operating Committee
Minneapolis, Minnesota
Regular Meeting
October 2, 2019 - 1:30 pm
Room 317, City Hall
Members: Council Members Cam Gordon (Chair), Jeremiah Ellison (Vice-Chair), Kevin Reich, Lisa Goodman, Lisa Bender, and Jeremy Schroeder (Quorum: 4)
Clerk: Irene Kasper, (612) 673-2216

Public Hearing

  1. 2 Land sale: 822 Elwood Ave to Jaslyn Talley (dba 822 ELWOOD AVE N LLC) This link open a new window(2019-01086)
    1. Passage of Resolution approving the sale of the property at 822 Elwood Ave N, (Disposition Parcel No. MH-166), to Jaslyn Talley (dba 822 ELWOOD AVE N LLC) for $65,000, subject to conditions. If Jaslyn Talley fails to close, approving the sale of the property to Roman Derevyanko for $65,000, subject to conditions.

  2. 3 Gateway Northeast Project financing: 2435 Marshall St NE This link open a new window(2019-01097)
    1. Passage of Resolution approving the Tax Increment Financing (TIF) Plan for Gateway Northeast at 2435 Marshall St NE.

    2. Passage of Resolution authorizing the issuance of a "Pay-As-You-Go" TIF note to CB LM Redevelopment Limited Partnership in a principal amount not to exceed $2,500,000.

    3. Authorizing a redevelopment contract and other necessary documents related to the recommended actions with CB LM Redevelopment Limited Partnership or an affiliated entity.

    4. Passage of Resolution authorizing preliminary and final approval of the issuance of Tax Exempt Multifamily Housing Revenue Entitlement Bonds in an amount not to exceed $23,000,000 for Gateway Northeast located at 2435 Marshall St NE.

    5. Approving additional funding up to $280,000 from the Affordable Housing Trust Fund for the Gateway Northeast project located at 2435 Marshall St NE.

Consent

  1. 4 Lease renewal for City-owned properties at 1913 and 1919 Columbus Ave S to Baraka Plaza, LLC This link open a new window(2019-01093)
    1. Approving the three-year lease renewal of 1913 and 1919 Columbus Ave S to Baraka Plaza, LLC, or an affiliate, for the purposes of maintaining and using a playground/play area as an accessory use to the Baraka Daycare Center at 1910 Chicago Ave S.

    2. Authorizing a lease agreement and related documents.

Discussion

  1. 5 Anti-Displacement Policy Network participation report This link open a new window(2019-01102)
    1. Receiving and filing a report on the City's participation in the Anti-Displacement Policy Network.

Addendum

  1. 6 Anti-Displacement Policy Network participation report This link open a new window(2019-01102)
    1. Directing the City Coordinator’s Office, with assistance from the Departments of Community Planning & Economic Development and Regulatory Services, to contract with one or more consultants to undertake an economic impact analysis in order to evaluate rent stabilization as a component of housing policy in Minneapolis.  The consulting contract should be in place no later than March 15, 2020.  Staff should bring an update on progress to the Housing Policy & Development Committee by November 13, 2019.

      The contract deliverables generally should include the following:

      1.    Establish a baseline and identify key factors for assessing annual rent increase caps as a rent stabilization policy in Minneapolis, which may include: Distribution of rent burden, rent cost trends, rental vacancy and turnover; and Composition of housing stock including age, ownership and geographic distribution of rental property.

      2.    Analyze these key factors within the Minneapolis context to understand potential impacts on renters and building owners. Key factors could include: Financial analysis of return on investment for rental property owners; Economic impacts to overall local economy and housing supply in other short and long term associated with capping annual rent increases; and Housing stabilization outcomes for tenants.

      3.    Provide potential modes for consideration rent stabilization policies that include rent increase caps and the economic impact of those models.


Notice:
A portion of this meeting may be closed to the public pursuant to MN Statutes Section 13D.03 or 13D.05.
Actions referred to Council: Oct 11, 2019
Next Committee meeting: Oct 16, 2019
Submit written comments to: [email protected]

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A portion of this meeting may be closed to the public pursuant to MN Statutes Section 13D.03 or 13D.05.

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