Last week, the St. Paul Housing and Redevelopment Authority launched the application process for the 4d Affordable Housing Incentive Program. The deadline to apply is 4 p.m. Friday, Dec. 20.
Enrollment in the program requires a landlord to make rents on 20% of a building's units affordable to people making either 50% or 60% of the area median income, according to the application notice. According to program guidelines, a single-unit rental must be rented at 50% AMI to qualify, and one of the units in a duplex property must rent at 50% AMI. A property with three or more units must have 20% of all units at 50% AMI, or 50% of all units at 60% AMI to qualify.
In turn, the building's property taxes would be classified under the Low Income Rental Classification, which would reduce their property taxes.
According to the application notice, 4d enrollment for this year is limited to approximately 400 units. Accepted applicants will be notified of their approval in 2025.
Minneapolis opened up its 4d application earlier this month as well, but has a deadline of 4 p.m. on Monday, Dec. 30.