MINNEAPOLIS (WCCO) — St. Paul residents voted Tuesday to pass a rent control policy that will be one of the most stringent in the nation.
The initiative, which has 53% approval with all precincts reporting, caps annual rent increases in the city at 3%, with only certain exceptions for property tax increases and major improvements.READ MORE: 5 Mpls. City Council Members Lose Seats Amid Controversy Over Failed Policing Amendment
Advocates say the policy will protect low-income renters from unfair profiteering, specifically for renters of color. Opponents, however, said that rent control will hurt housing development in the city, leading to only higher prices for renters.READ MORE: Following Re-Election, Mayor Frey Expresses Confidence About Working With New Minneapolis City Council On Public Safety
Prior to election day, Mayor Melvin Carter said he would vote in support of the measure. The mayor is projected to win re-election, as he amassed more than 60% of first-round votes Tuesday night.
For a look at the results of other top Twin Cities races, click here.MORE NEWS: Minneapolis City Council Races: Unofficial Winners Declared In All Wards
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