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d) Substantially increase long-term <br />funding for the Economic <br />Development & Challenge Fund to <br />leverage local private and public <br />resources to develop workforce rental <br />and single-family homes. <br />e) Support legislation to provide sales, <br />use, and transaction tax exemptions or <br />reductions for development and <br />production of affordable housing and <br />use state bond proceeds for land <br />banking and trusts as well as <br />rehabilitation and construction of <br />affordable housing. <br />f) Provide funding and financing tools to <br />cities to create affordable senior <br />housing for our aging population. <br />Provide funding and financing tools to <br />cities to create affordable housing and <br />prevent foreclosure for veterans. <br />h) Support for funding to reduce the <br />racial gap in homeownership rates, <br />such as targeted homeownership <br />capacity building and homebuyer <br />assistance. <br />i) Support additional funding for the <br />housing choice voucher programs or <br />other rental assistance programs and <br />financial, tax, and/or other incentives <br />for rental property owners to <br />participate in these programs. <br />Support the current 4d Low -Income <br />Rental Classification under Minn. <br />Stat. § 273.128 that provides a class <br />rate reduction in property taxes to <br />qualifying low-income rental <br />properties. Pass legislation that <br />requires a full analysis of the program <br />to study the impact of expanding or <br />modifying the current program to <br />understand the financial impact to <br />residents, who will bear the <br />responsibility of the redistributed <br />taxes. Oppose any changes to the 4d <br />Low -Income Rental Classification <br />program that substantially increases <br />g) <br />J) <br />77 <br />the tax responsibility for residents and <br />businesses or increases the tax benefit <br />for landlords without including <br />increased benefits for renters of 4d <br />units including but not limited to <br />deeper affordability or property <br />reinvestment. Support the <br />implementation of a reporting process <br />for landlords and consider a sunset <br />period for any changes made to the <br />program to evaluate the range of <br />impacts that expanding the program <br />may have. <br />k) Support funding for infrastructure <br />grants available to cities to assist with <br />the cost of providing critical <br />infrastructure and ensure that <br />residential sites are shovel ready for <br />development. <br />LE-11. Greater Minnesota Housing <br />Issue: Cities in greater Minnesota share <br />many of the same housing needs as metro <br />communities. However, not unlike differing <br />real estate markets within a city, greater <br />Minnesota communities often have vastly <br />different market conditions for housing that <br />can necessitate priorities that vary from <br />metropolitan areas. Greater Minnesota cities <br />face unique challenges that affect the <br />affordability, quality, and availability of <br />housing. While local communities in greater <br />Minnesota are focusing on local efforts to <br />attract development and encourage growth, <br />assistance is often needed from state and <br />federal resources to construct and <br />rehabilitate greater Minnesota housing stock <br />and that assistance should better <br />accommodate the varying realities of a <br />diverse state and housing markets. <br />Like many metropolitan cities, greater <br />Minnesota city housing studies often cite <br />challenges at many levels of the economic <br />spectrum that impact local economies and <br />population growth. However, incomes <br />