Minnesota steps up affordable housing investments

The help comes amid mounting pressure to curb low supply, rising rents, lost dreams. 

Minnesota's affordable housing crisis is getting a $259 million infusion of state and federal dollars to bolster housing options for some of the state's most vulnerable populations.

Politicians from both parties and local, state and federal governments are eager to show they're responding as Minnesotans decry the overall housing shortage, rising rents, lost dreams of homeownership, and lack of supportive housing for people who are veterans, chronically homeless, disabled or mentally ill.

On Thursday, Gov. Tim Walz and the Minnesota Housing Finance Agency, as well as the U.S. Department of Housing and Urban Development, made separate funding announcements in Minneapolis.

Walz and the housing agency announced $254 million to subsidize home mortgages, senior housing, workforce housing, supportive housing for homeless people and building and preserving single-family homes. Meanwhile, HUD officials announced $5.3 million in rent vouchers for disabled Minnesotans.

Also Thursday, U.S. Rep. Ilhan Omar, D-Minneapolis, announced legislation that would invest $1 trillion in affordable housing projects over a decade, with a goal of creating 12 million new units in that time. The legislation would also create permanent federal funding to help make housing more affordable, she said, but does not specify a source of funds.

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"Minnesota steps up affordable housing investments"; By. Marissa Evans; Star Tribune; November 32

Keywords: Affordability, HousingCrisis

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