As part of a continuing effort to end homelessness in Minnesota, Senate and House legislators have introduced a bill to invest $100 million in affordable housing projects.
Last year, the Legislature invested $100 million into housing in its bonding bill: the largest single investment in housing in state history. This bill plans to build on that success.
However, there were many excellent, much needed housing projects that still need funding, and legislators say they want to continue moving forward in addressing Minnesota’s shortage of low-income housing. In fact, the Minnesota Housing Finance Agency received housing project requests last year totaling three times the amount it had available to spend.
One in eight Minnesota households pay half or more of their income toward housing. When housing costs consume this much of a household’s income, people struggle to pay for food and other necessities. There is extensive research documenting that housing instability contributes to poorer health, education, and workforce outcomes. Likewise, housing shortages can stifle economic development.
The legislators say the need to provide affordable housing and end chronic homelessness is urgent and ongoing. They plan on calling for a $100 million investment in housing every biennium until Minnesota ends homelessness and all Minnesotans have stable housing. (S.F. 470)