Minneapolis file 2026-00693, before the Minneapolis City Council. Passed as of 2026-07-25.
Latest action: Published
New homes and offices may come to downtown The city is considering special bonds and tax money to help convert the old Grain Exchange building into housing and offices near the Stone Arch Bridge.
Tax increment financing could boost downtown growth If approved, future property tax increases from the rebuilt site would pay back the bonds, potentially freeing city money for other priorities like schools or parks.
Tax repayment depends on project success If the conversion costs more than expected or attracts fewer tenants, the city may collect less tax revenue than planned and face a budget gap.
Setting a public hearing for July 7, 2026, to consider the issuance of Housing Revenue Entitlement Bonds and Tax Increment Financing for the Grain Exchange Conversion project located at 301 4th Ave S and 400 4th St E.
Read the official record for 2026-00693
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