This afternoon, a key Senate Housing committee considered Senator Bobby Joe Champion’s (DFL – Minneapolis) legislation to close the homeownership gap by targeting $10 million to help Minnesotans of color buy their first homes.
Senator Champion and Build Wealth Minnesota Executive Director David McGee spoke in favor of the bill and the committee laid the measure over for further consideration.
“Homeownership is the key to building generational wealth among families and to establishing strong communities,” said Senator Champion. “Unfortunately, Minnesota has the fourth-largest racial and ethnic homeownership gap in the nation, which means many of our community members are unable to enjoy the benefits of homeownership. I am committed to addressing this inequity by partnering with organizations like Build Wealth Minnesota to help people of color purchase their first homes.”
“I would like to thank Build Wealth Minnesota Executive Director David McGee for his partnership on this issue and for his thoughtful testimony in favor of the bill. I’m grateful for the committee’s consideration of this legislation and I will continue to push for passage of this important measure by the end of this legislative session.”