Bloomington Opportunity Housing Incentives and Tools for Developers

Opportunity Housing Ordinance

This ordinance requires developers of new housing and substantial housing rehabilitation projects to provide a minimum number of affordable units.

The ordinance provides several incentives to add affordable units, such as:

  • Density bonuses
  • Housing tax increment financing
  • Expedited reviews

The ordinance is comprehensive in scope and helps increase the supply of affordable housing units throughout the city. 

Bloomington Opportunity Housing Incentives and Tools for Developers

Process Overview
 

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Process Overview - Click for PDF version

Affordable Housing Plan

Residential developments of 20 units or more must submit an Affordable Housing Plan to the City of Bloomington as a part of the application for a final site and building plan, a final development plan or for NOAH preservation. An Affordable Housing Plan is not required for a development in which the affordable housing obligation is satisfied by a payment in lieu.  

Developers are encouraged to discuss projects with the Opportunity Housing Advisor and the Planning Division.  

Affordable Rent and Income Limits 

The tables below list the affordable rent and household incomes at the current levels of area median income, as calculated by the U.S. Department of Housing and Urban Development (HUD) based on HUD's Area Median Income for a family of four for the Minneapolis-Saint Paul-Bloomington Metropolitan Statistical Area.

The median family income in 2021 for a family of 4 in the Minneapolis-St.Paul-Bloomington region is $104,900.

The 2021 fair market rents for the Minneapolis-St. Paul- Bloomington regions can be found here: https://www.huduser.gov/portal/datasets/fmr/fmrs/FY2021_code/2021summary.odn?&year=2021&fmrtype=Final&cbsasub=METRO33460M33460 

 

Opportunity Housing Developer Information Session Video

Opportunity Housing Ordinance

Contact Information

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