$162 MILLION IN FUNDING ANNOUNCED FOR HOUSING ACROSS MINNESOTA

ST. PAUL, MINN. – Minnesota Housing Finance Agency on Thursday announced funding awards of nearly $162 million that will create and preserve affordable housing across the state.

This record level of funding comes just months after the Governor and Legislature approved the largest capital investment for housing in MHFA history. It will fund 78 rental and homeownership projects, creating a total of 4,000 housing units, through a variety of financing sources.

The announcement came at a news conference attended by Governor Mark Dayton

Two of the projects approved will benefit Central and Northern Minnesota. The Headwaters Housing Development Corporation in Baudette will receive $355,000 for new construction, and the Beltrami County Housing and Redevelopment Authority will receive $300,000 for mobile home replacement.

“This is a great opportunity to create affordable housing for workers coming to our area,” said Representative Roger Erickson (DFL-Baudette). “Jobs are available. The workers need a place to live while they get started.”

The funding approved by the MHFA board reflects the broad housing needs of the state – from preserving and leveraging existing public housing and its federal funding to offering a variety of housing choices for families and supportive housing for people who have experienced homelessness.

“These historic investments will make our communities better, provide thousands of families better places to live, and create 5,700 new jobs,” said Minnesota Governor Mark Dayton. “I thank the Minnesota Housing Board and the Minnesota Legislature for their work in securing these new investments, and putting these funds to good use in our communities.”

According to the MHFA, this funding will bolster new workforce housing in Worthington, Jackson, Duluth, Owatonna, Thief River Falls, and the Twin Cities with resources from the Governor’s Housing and Job Growth

Initiative and add to investments made last year in Roseau, Worthington, Jackson, Thief River Falls, Duluth and Richfield. Each of these developments has a connection to thousands of jobs and strong support from local communities and employers.

“I am proud that the budget actions of the 2013-14 Legislative sessions have enabled these housing improvements,” Representative John Persell (DFL-Bemidji) said.

“We celebrate this announcement and the homes it will create, but we know our work isn’t finished,” said Representative Alice Hausman, the chair of the House Capital Investment Committee. “Too many families are still homeless, too many Minnesotans pay too much for housing and can’t find a safe and decent place to live. Funding requests totaled more than three times the amount available. I will continue to push for more housing resources to meet our growing housing needs.”

One significant achievement is the impact these resources have on the state’s new plan to prevent and end homelessness. When the plan was launched by the Minnesota Interagency Council on Homelessness last year, it created a goal of ending homelessness among veterans by the end of 2015. Developments receiving funds through these awards will create 154 new supportive housing units for veterans and puts the state well on the

path to achieving this goal.

“We know that people can succeed when they have stable housing and the need has never been greater,” said Mary Tingerthal, MHFA commissioner. “I am proud of the shared commitment to affordable housing reflected in these awards.”

An additional $20 million, approved in the 2014 bonding bill to repair aging public housing, will be awarded in January, 2015.