Saint Paul file RES 26-1607, before the Saint Paul City Council. Passed as of 2026-09-23.
Latest action: Passed
New rental apartments may be built on St. Peter Street If approved, the city will issue bonds to finance a multifamily rental housing project at 408 St. Peter Street; a public hearing will be held before any final decision.
Tax-exempt bonds reduce developer costs for housing projects Conduit bonds let developers borrow at lower interest rates because investors don't pay federal income tax on the interest; this may mean more affordable rental housing gets built downtown.
No affordability requirements are spelled out in this vote The resolution approves the bond issuance and public hearing but does not lock in rent caps, income limits, or affordable unit percentages for this specific project.
Read the official record for RES 26-1607
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