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e) Improve notification to cities, and <br />consistency in the information <br />available to cities, when a property is <br />in the foreclosure process and vacated. <br />f) Support coordinated responses to <br />prevent foreclosures, activate and <br />guide private investment and home <br />purchases, and support distressed <br />neighborhoods. <br />Study and monitor the impacts on the <br />housing market of single-family home <br />acquisition by private equity <br />companies. <br />h) Re-enact a program similar to "This <br />Old House" to allow owners of <br />qualifying single-family homes or <br />multi -unit rental properties to defer <br />the increase in tax capacity from <br />repairs or improvements to their <br />homestead property as an incentive <br />for cities to maintain housing stock, <br />including, but not limited to re- <br />occupying and homesteading <br />foreclosed and vacant homes. In order <br />to provide potential opportunities in <br />more communities, the program's age <br />limit qualifications for a homestead <br />property should be updated to include <br />properties that are at least 30 years <br />old. <br />1) Support programs that provide <br />resources to cities for rehabilitation or <br />new construction of single-family <br />homes, such as the Community <br />Impact Fund and the Community Fix <br />Up Program currently administered <br />through MN Housing Finance Agency <br />(MHFA). <br />g) <br />LE-9. Resources for Affordable <br />Housing <br />Issue: Cities, along with local housing <br />officials, are concerned about the need for <br />proactive commitment at the state level to <br />aid cities to meet demand for affordable <br />housing that is sensitive to local conditions, <br />emerging trends, and changing <br />demographics. This includes meeting the <br />needs of an aging population and ensuring a <br />wide range of lifecycle housing options that <br />allow seniors of all incomes to stay in their <br />community, addressing racial disparity gaps <br />in housing, and responding to emerging <br />trends, such as the need to preserve naturally <br />occurring (unsubsidized) affordable housing. <br />The League also recognizes that federal, <br />state and local governments all have a role <br />to play in meeting affordable housing needs, <br />overcoming barriers to housing stability <br />such as high market prices, eviction, and <br />foreclosure, and responding to problems <br />caused by vacant homes and the increase in <br />rental properties that are the result of <br />foreclosure. In 2017, the Minnesota <br />Legislature passed legislation to provide <br />local governments with the ability to <br />establish a local affordable housing trust <br />fund as a tool to help meet affordable <br />housing needs. <br />Since the Fair Housing Act of 1968, local <br />government has been obligated to promote <br />and reduce barriers to fair housing and equal <br />opportunity. The Affirmatively Furthering <br />Fair Housing Rule (AFFH), released in 2015 <br />by the U.S. Department of Housing and <br />Urban Development (HUD), is helping the <br />region develop better strategies to address <br />barriers to opportunity and promote fair <br />housing choice. <br />Households with Section 8 housing choice <br />vouchers face many barriers to securing <br />housing in the private rental market, <br />especially when rental vacancy rates are <br />low. Currently rental vacancy rates are at a <br />historic low in much of the state. As a <br />result, many families and individuals may be <br />unable to use their Section 8 housing choice <br />vouchers and thus unable to secure safe, <br />decent and affordable housing. <br />League of Minnesota Cities <br />2018 City Policies Page 56 <br />