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On December 7, 2018, the Minneapolis City Council directed staff to submit a final draft of Minneapolis 2040 to the Metropolitan Council for their review. That review is complete, and the Metropolitan Council is scheduled to consider Minneapolis 2040 for approval on September 25, 2019. Following approval from the Metropolitan Council, the Minneapolis City Council will take final action on Minneapolis 2040 on October 11, 2019, and the document will take effect on November 16, 2019.

POLICY 60

Intrinsic Value of Properties: Increase the awareness, understanding, and appreciation of the economic and intrinsic value of older properties important to the city’s heritage.

The city is filled with buildings and landscapes that are important to its heritage and integral to defining and framing the character of a place or culture. These properties may be a collection of commercial buildings, industrial buildings and old railroad infrastructure, or a set of rowhomes. Some may be local or national historically designated properties, while many are not. The value of some may be more universally recognized – for example, the Foshay Tower; while the value of others may not be as universally recognized – for example, early 20th century commercial buildings along West Broadway Avenue. In either case, the properties have intrinsic value in helping define and frame the character of an area and present opportunities to support economic and business development and, more broadly, community development and investment.

ACTION STEPS

The City will seek to accomplish the following action steps to increase the awareness, understanding, and appreciation of the economic and intrinsic value of older properties important to the city’s heritage.

  1. Recognize and promote the value of the built environment and landscape as an asset that enhances community identity and a sense of place.
  2. Encourage the rehabilitation of buildings and landscapes that are important to the city’s heritage to stimulate economic activity, house our cultural corridors, act as business and arts incubators, and sustainable development.
  3. Promote the retention of properties important to the city’s heritage through land use planning, economic development and other investment strategies and infrastructure planning.
  4. Incorporate heritage preservation at the earliest stages of comprehensive planning and revitalization strategies.
  5. Develop and explore tools and strategies to recognize and promote properties important to the city’s heritage as valuable assets to the community and the city.
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