4d AFFORDABLE HOUSING PROGRAM
PARTICIPANT AGREEMENT
Property owner(s)
Property address
Legal description of property
Total number of unity is property
Percentage (%) of units restricted to be aordable to and occupied by households at or below 60
percent the area median income (AMI)
___________%
A. Owner certifies that he/she/they are the Owner(s) of record of the Property.
B. Owner has previously submitted to the City a complete 4d Program application and rent roll demonstrating that
_____% of the rental housing units located on the Property have rents that do not exceed 30% of the gross income of
a family whose income equals 60% of the median family income as most recently established by HUD for the Minne-
apolis/St. Paul standard metropolitan statistical area.
C. Owner has agreed to record a declaration against the above described Property limiting the rents and incomes on
_____% of the rental housing units located on the Property as further described in the form of declaration attached
hereto as Exhibit A (the “Declaration”) so that Owner can qualify for preferable tax classification as class 4d under
Minnesota Statutes, sections 273.128 and 273.13, subdivision 25. The Owner specifically represents that such prefer-
able tax classification along with access to the other financial incentives described in this Participation Agreement is
sucient consideration for executing and filing the Declaration.
D. The Owner certifies that no existing tenants in the Property have been or will be evicted because of the filing of the
Declaration.
E. Upon satisfaction of the foregoing conditions, the City will, in cooperation with the Owner:
a. Record the Declaration in the Hennepin County land records.
b. Submit Owner’s first application to the State of Minnesota for the certification of 4d classification under Minnesota
Statutes §273.128 and pay the associated application fee (“4d Application Fee”).
c. Provide Owner with a grant in an amount equal to $_________ ($100/aordable unit not to exceed $1,000) to as-
sist the Owner in covering the cost of making health, safety and energy eciency improvements to the Property.
Owner must submit a plan for the proposed use of the funds an`d certify the use of the funds to make property
improvements.
