Affordable Housing Resources for Property Owners

  1. Purchase Price, Income Limits Increase for Mortgage Program

    Participants in an Edina second-mortgage program can now purchase a home with a price up to $500,000. The Come Home 2 Edina second mortgage program provides down-payment assistance loans to support people in affordable home ownership. Read on...
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Rental Property Tax Reduction Program (4d)

  • Tax reductions of approximately 40 percent
  • Must keep 20 percent of more of rental units affordable (for properties with 1 to 4 units, over 50% must be deemed affordable)
  • Qualify for Resilient Homes Grants covering 90 percent of energy-efficiency improvements, up to $50,000.
  • Presentation to learn more.
  1. 4d Program Benefits for Property Owners
  •  5-year eligibility for 4d property tax rate, which provides a 40% tax rate reduction on qualifying units. Some properties, such as single family rental homes, have a lower base rate of 1.00, meaning the  reduction in property taxes may be less significant. 
  • Grant to each 4d property, in the amount of $100 per affordable unit, capped at $5,000 per property
  • Payment of first year application fee to the State of Minnesota for Low Income Rental Classification (LIRC) (RTF) (PDF), also known as 4d tax classification ($10/unit) 
  • Resilient Homes Grant funding up to $50,000 (up to 90% project costs) with 10-year 4d tax commitment and eligibility determined by a no-cost energy assessment.
  1. Eligibility Guidelines
  1. Rent Limits
  1. Property Owner Commitment
  1. Benefits of Resilient Homes Grants
  1. Application
  1. Next Steps
  1. Application Timeline
  1. Yearly Compliance Requirements and Deadlines
  1. Resources

Resources for Apartments With Affordable Units

  1. Guides & Posters
  2. Compliance Forms
  3. Utility Allowance

Housing Improvement Areas