City of Minneapolis – Title 12 – HOUSING – CHAPTER 244. – ARTICLE XVIII. – AFFORDABLE HOUSING BUILDING SALE – MAINTENANCE CODE 244.2110. – Definitions.

The following words and phrases used in this article shall have the meanings set forth below:

Affordable housing building means a multiple-family rental housing building having five (5) or more dwelling units where at least twenty (20) percent of the units rent for an amount that is affordable at no more than thirty (30) percent of income to households at or below sixty (60) percent of area median income, as most recently determined by the United States Department of Housing and Urban Development for Low Income Housing Tax Credit (LIHTC) purposes, as adjusted for household size and number of bedrooms.

Affordable housing dwelling unit means a rental dwelling unit in an affordable housing building that rents for an amount that is affordable to households at or below sixty (60) percent of area median income, as most recently determined by the United States Department of Housing and Urban Development, as adjusted for household size and number of bedrooms.

Available for sale means the earliest implementation of any of the following actions, including, but not limited to, negotiating to enter into a purchase agreement that includes the affordable housing building, advertising the sale of the affordable housing building, entering into a listing agreement to sell the affordable housing building, or posting a sign that the affordable housing building is for sale.

Cause means the tenant or a member of the tenant’s household materially violated a term of the lease.

Relocation assistance means a payment in the amount equal to three (3) months of the current monthly contract rent.

Tenant protection period means the period that commences with the transfer of ownership of an affordable housing building and runs through the end of the three (3) calendar months following the month in which written notice of sale is delivered to each affordable housing dwelling unit tenant pursuant to section 244.2140.

Transfer of ownership means any conveyance of title to an affordable housing building, whether legal or equitable, voluntary or involuntary, resulting in a transfer of control of the building, effective as of the earlier of the date of delivery of the instrument of conveyance or the date the new owner takes possession. ( Ord. No. 2018-063 , § 1, 11-2-18)