Minneapolis file 2026-00907, before the Minneapolis City Council. Passed as of 2026-08-21.
Latest action: Published
Affordable housing building gets money for repairs. The city forgives about $639,000 in loan debt for Lindquist Apartments, freeing up cash for the owner to fix the building when refinancing happens.
Sends signal that city backs affordable housing upkeep. Debt forgiveness can encourage other affordable housing owners to refinance and upgrade their buildings, knowing the city will work with them on old loan burdens.
City gives up future revenue from a past loan. The city loses $639,000 in repayment that could have funded other housing or services, and the benefit goes to one building rather than spreading resources across more properties.
Approving forgiveness of all principal and accrued interest on the 2004Affordable Housing Trust Fund (AHTF) loan for the Lindquist Apartments project, in the approximate amount of $639,047,upon refinancing of the project for rehabilitation.
Read the official record for 2026-00907
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