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We Can Achieve Economic Recovery & Stability Through Investment in Homeownership

Now is the time to support generational wealth creation, economic recovery, and racial equity through investment in affordable housing.

One-Time & Continued Investment in Affordable Homeownership

 

Policy Priorities:

  • Pursue a state tax on short-term vacation rental properties with revenues directed to funding affordable homeownership production in Minnesota.  

  • Preserve homeownership by slowing investor-ownership of single-family homes for rental use. Explore the development of a statewide affordable homeownership fund derived from an increased tax on out-of-state investors of single-family homes.

  • Expand the Community Land Trust 4D Property Tax rate from .75 to .25 to match the 4D class rate applicable to affordable multi-family rental, recognizing the shift will directly benefit low-income homeowners subject to resale restrictions.  

  • Create protections for contract for deed homeowners and support long-term, affordable homeownership through contract for deed reform. 

  • Expand cooperative ownership in Minnesota through a comprehensive cooperative housing statute. 

Investment Priority:

  • Invest $500M through Housing Infrastructure Bonds (HIBs).  

  • Set aside at least one-third of Challenge Funds appropriations and one-third of authorized Housing Infrastructure Bonds (HIBs) for affordable homeownership-related activities.