Dayton announces $80M in affordable housing investments from MN Housing, GMHF & co-Funders

State investment will leverage $300 million in private and local funding. GMHF is one of the funding partners with Minnesota Housing. Funding will create and preserve 1,831 affordable housing opportunities across the state.

Joined by Minnesota Housing Commissioner Mary Tingerthal and community leaders, Governor Mark Dayton today announced $80 million in funding to create and preserve 1,831 affordable housing units throughout the state.

These investments will leverage private and local resources to support $300 million in total development costs and support more than 2,800 jobs.

“This funding will stimulate jobs and economic development across our state, while providing housing for more Minnesotans in need,” said Governor Dayton. “Unfortunately, without a bonding bill last session, the housing needs of 3,000 more Minnesota families will go unmet. I will continue fighting for more resources to meet Minnesota’s growing housing needs during the coming legislative session.”

This funding comes as housing costs continue to increase and vacancy rates remain extremely low. Existing affordable housing is being purchased and converted to market-rate housing, displacing low- and moderate-income families.

Read the full story online at Business North.

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