Minneapolis file 2026-01011, before the Minneapolis City Council. Passed as of 2026-09-25.
Latest action: Published
Keeps affordable housing open at 3631 Penn Ave N North Penn Supportive Housing gets $151,045 in debt forgiven, plus all accrued interest through September 2026, helping the project stay afloat.
City uses housing trust fund money to support existing projects When the city forgives loans instead of collecting payments, it reduces future money available for new affordable housing developments.
Forgives debt without public data on project performance The bill does not require public reporting on why the loan needed forgiveness, how many residents live there, or whether the project met its original goals.
Approving partial principal debt forgiveness in the amount of $151,045 of an Affordable Housing Trust Fund (AHTF) loan to North Penn Supportive Housing, LLC, and all accrued interest on the loan through September 15, 2026, forthe 3631 Penn Ave N project.
Read the official record for 2026-01011
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