I have a simple solution that would help rebuild the rough spots of North Minneapolis. If I was in charge I would give any Minneapolis resident 18 years or older a $20,000 a year tax credit if they work in North Minneapolis for 3 years or purchased a home in North Minneapolis and made it their primary residence. I would also give a $20,000 tax credit to any Minneapolis residence if they bought a commercial property in North Minneapolis and fixed it up and rented it out.
I don't live in North, but I own land there and I used to work in North when I was sanding floors. I had a number of investor clients who bought foreclosures back when the market crashed and they kept me busy up there. I was refinishing hardwood floors from Broadway all the way up to Shingle Creek Parkway. Once I started selling real estate in 2013 I started to tour properties and sell a lot of homes in North Minneapolis. When I sold around 160 houses my first two years as a broker, many of those sales were in North Minneapolis. I have toured hundreds of homes up there.
Giving out a $20,000 tax credit would make that area boom. People need to be incentivize to invest in the neighborhood. The picture is a tiny shack from Natchze, Mississippi. It's a small home, but it does the job. I think we could build homes like this in North Minneapolis and it would help get people into owning land versus being renters.