Fiscal Impact
A fiscal note shows the financial impact of a given legislative action.
Minneapolis Homes: Financing application concept to support the acquisition and sale of investor-owned rental properties for affordable homeownership - Fiscal Note
Yes
Community Planning & Economic Development
01CWS, 01CW3, 01CWT, 01CW4
No
The requested funding source is up to $2 million of the available cash balance in 01CWS, 01CW3, 01CWT, and 01CW4. Housing Replacement District balances are generated through City of Minneapolis HRD plans that place parcels into a tax increment financing district for the purpose of acquiring and preparing properties to produce market rate housing for sale.
BUDGET IMPACT
List of revenues and expenditures related to this request
| Request Financing | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|
| Revenue Sources | |||||
| 01CW3, 01CWS, 01CWT, 01CW4 | $2,000,000 | ||||
| Total Revenues | $2,000,000 | $0 | $0 | $0 | $0 |
| Expenditures | |||||
| Acquisition, rehab, sale contracts | $0 | $2,000,000 | |||
| Total Expenditures | $0 | $2,000,000 | $0 | $0 | $0 |
| Net Budgetary Impact (Revenue-Exp.) | $2,000,000 | $-2,000,000 | $0 | $0 | $0 |
Not Applicable
Not Applicable