Minneapolis is facing a budget gap of more than $30 million as Mayor Jacob Frey prepares to unveil his plan for next year on Wednesday. Frey is set to lay out his proposed city budget at 11 a.m. as the city looks for ways to close the shortfall. Closing the gap could mean deep service cuts, job cuts, a large property tax hike or some combination of those options. RELATED: Mayor Frey addresses MPD overtime, scrutiny expected during budget seasonCity leaders say declining downtown property values and budget overruns at the Minneapolis Police Department are a big part of the city’s financial troubles.