With Senate passage, historic investment in housing goes to Governor Walz for signature into law
SAINT PAUL, Minn. – Today, the Minnesota Senate passed the Conference Committee Report for Housing devoting approximately $1 billion for rental assistance, homelessness prevention, housing supply and development, and closing racial disparities in homeownership. In addition to this historic investment, the bill will provide hundreds of millions of dollars in ongoing funding for rental assistance and local housing aid for metro counties and cities.
“This is a transformational investment that will improve housing stability for tens of thousands of people across the state by helping them afford their first house or pay their rent,” said Senator Lindsey Port (DFL-Burnsville) Senate author of the report and chair of the Senate Housing and Homelessness Prevention Committee. “Housing stability is essential to stability throughout Minnesotans lives, and I’m proud to pass this bill to help families across the state have a roof over their head.”
Highlights of the budget include:
- Bring it Home: Ongoing funding for rental assistance vouchers for low-income Minnesotans
- Family Homeless Prevention and Assistance Program: $45 million to help prevent evictions and keep people in their homes
- Housing Infrastructure: $200 million for the constructions of affordable housing
- First-Generation Homebuyer Assistance: $150 million to help close racial homeownership gaps through downpayment assistance
- Challenge Program: $95 million to the development of affordable rental and single-family housing.
Language for the full bill is available at the Office of the Revisor of Statutes.
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