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St. Paul Mayor Melvin Carter announced the formation of a rent-control stakeholder group Friday as the policy's May 1 implementation date approaches.

The announcement comes as St. Paul residents raise questions about how the city's 3% cap on annual rent increases will be enacted and enforced.

The group will be convened and facilitated by the Center for Urban & Regional Affairs (CURA) at the University of Minnesota. The stakeholders will meet virtually through May to "identify considerations on improving and enhancing rent stabilization in Saint Paul, with a final report completed by this summer," according to a news release. Stakeholder meetings will be livestreamed.

The committee will be co-chaired by Tony Sanneh, of The Sanneh Foundation and Phillip Cryan, Executive Vice President of SEIU Healthcare Minnesota. Other notable members include Housing Equity Now St. Paul (HENS) campaign manager Tram Hoang, Ryan Companies North Region President Tony Barranco, St. Paul City Council Member Chris Tolbert and the Saint Paul Area Association of Realtors.

The Rent Stabilization Stakeholder Group has a budget of $49,900, paid for through the city's Innovation Fund, according to a news release.

"Saint Paul voters overwhelmingly voiced their support for rent stabilization in November," Carter said in a statement. "I believe in our ability to meet this housing crisis with thoughtful policy that drives our goals for both equity and growth."

The first committee meeting is scheduled for Tuesday, Feb. 22, from 1 to 3 p.m.