No vote on Bonding Bill leaves $900 million in federal and local matching grants on the table
ST. PAUL, Minn – As cities and counties consider moving forward without the funding in the Senate Bonding Bill, Sen. LeRoy Stumpf (DFL-Plummer) is reminding Republicans and the public of a little known, but hugely important fact. For a large number of the bonding projects that received funding in the Senate proposal, the legislature required a 50 percent match before the project could receive state funding. Those matching dollars come from a variety of sources including federal, local and private money. The Senate’s $1.5 billion Bonding Bill leveraged a total of $916.8 million in matching dollars – making the total investment in Minnesota projects close to $2.5 billion. Sen. Stumpf says leaving that money on the table is something no legislator should be willing to do.
“By not passing a decent sized bill to take care of state-owned infrastructure – not only are we doing a disservice to small towns, counties and cities across the state – we are leaving nearly a billion dollars in matching grants on the table. Many of these projects come with millions in matching grants – frequently federal dollars – like in the case of several transit or transportation projects. It just doesn’t make sound fiscal sense to say no to these matching grants when the money may not be there in the future. I encourage House Republicans to consider the money that has already been secured to fund these projects that will create thousands of jobs across the state,” said Sen. Stumpf.
Examples of matching funds:
- Cambridge – East Central Regional Library: $8 million match
- St. Louis River Area of Concern: $23.6 million match
- Military Affairs asset preservation: $7.2 million match
- Duluth Airport Authority: $47.5 million match
- Hennepin County I-35 and Lake Street transit access project: $121.2 million match
Visit http://build.mn/ to see detailed and interactive maps, learn about specific projects and watch videos.