Innovative Housing Strategies: Pursue innovative housing strategies to maximize the creation and preservation of affordable housing.
In recent years the City of Minneapolis has provided $10 million annually to aid in the production and preservation of affordable housing units. These City resources, coupled with state and federal tools and resources, have not been enough to meet the minimum established housing goals set by the Metropolitan Council, nor are they enough to meet the true demand for affordable housing in Minneapolis. More must be done. The City needs new and innovative strategies to successfully meet the Allocation of Affordable Housing Need goals set by the Metropolitan Council, as well as the affordable housing development and preservation goals of this comprehensive plan.
The City will seek to accomplish the following action steps to pursue innovative housing strategies to maximize the creation and preservation of affordable housing.
- Explore new strategies and tools to create and preserve affordable housing throughout the city.
- Continue to explore opportunities to expand and maximize local, regional, state and federal affordable housing resources, partnerships and tools.
- Engage in regional dialogue and collaboration to expand affordable housing resources and tools.