The Housing Trust Fund was developed by Mayor Melvin Carter to produce, preserve, and protect housing affordability for Saint Paul residents. The fund serves as a flexible financial tool used to address the current crisis of housing affordability in Saint Paul.
Current issues facing the Saint Paul housing market include increasing costs of labor and materials limiting new construction, housing costs rising at a quicker pace than average incomes, and significant racial disparities in homeownership.
The Housing Trust Fund strategy identifies five key objectives to address housing issues. The strategy builds upon the findings of the Saint Paul Fair Housing Working Group and community engagement during the City’s 2040 Comprehensive Plan process as well as Mayor Carter’s Voices of Our Community and Imagine Our City listening sessions.
4(d) Affordable Housing Incentive Program
The 4(d) Affordable Housing Incentive Program offers a package of incentives for rental property owners to reduce property tax liability and address the condition of aging buildings, all with the goal of preserving affordable, quality, stable homes for tenants.
Applications for the 2023 program were accepted through December 30, 2022. Information on the 2024 program will be available in fall 2023.
Community Land Trust Financing
The City of Saint Paul Housing and Redevelopment Authority (HRA) has assigned funding for community land trusts to provide new pathways to homeownership for low-income households designed to stay affordable. Financing can be used by community land trusts and/or real estate development partners for property acquisition, development gap financing, long-term affordability gap financing and closing cost assistance.
Applications for Community Land Trust Financing are currently closed.
Families First Housing Pilot
The Families First Housing Pilot provides Saint Paul families a $300 monthly rent supplement and ongoing supportive services for three years, in partnership with the Saint Paul Public Schools. Eligible families are those with incomes at or below 30% AMI, who pay 40% or more of their income for rent, are not receiving another housing subsidy, and have at least one Pre-K to 3rd-grade student enrolled in a participating school.
Applications are accepted on a referral-only basis. For more information, contact a participating school.
Downpayment Assistance Program
The City of Saint Paul has closed applications for the Downpayment Assistance program, following a high volume of applications. During this pause, staff will process previously submitted applications in the order received.
The Downpayment Assistance Program provides financial assistance for homebuyers earning at or below 80% area median income (AMI). Qualified homebuyers can receive up to $40,000 to use towards a home downpayment, closing costs and/or property inspection.
First-generation homebuyers are eligible to receive up to an additional $10,000. Homebuyers that are eligible for the Inheritance Fund layers may earn up to 100% AMI and can receive up to an additional $60,000 (for a total of $110,000).
Quarterly Updates and Legislative Actions
|August 28, 2019||Housing and Redevelopment Authority||
SR 19-84 (Legistar): Housing Trust Fund Quarterly Update
|May 22, 2019||Housing and Redevelopment Authority||
RES 19-858 (Legistar): Resolution approving the guidelines for housing trust fund allocations supporting community land trusts and initial allocation
|May 8, 2019||Housing and Redevelopment Authority||
SR 19-31 (Legistar): Housing Trust Fund Quarterly Update
|February 13, 2019||Housing and Redevelopment Authority||
RES 19-273 (Legistar): Resolution approving guidelines and funding for the 2019 4(d) Affordable Housing Incentive program