Minnesota Senate Media Services
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Senate Sends Housing Finance and Policy Bill to the Governor
Posted
June 28, 2021
Views
312
June 28, 2021
312
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1:06:55Now PlayingThe Senate gave its unanimous final approval Monday, June 28, to the omnibus housing policy and finance bill and sent it Governor Tim Walz for his signature. The package supports funding to improve access to affordable housing and home ownership as well as takes steps to end the eviction moratorium.
To improve home ownership, the bill directs $18 million in Housing Infrastructure bonds to be used for single-family homes and $15 million for manufactured home parks. The Workforce Homeownership Program will receive $3.25 million for projects to develop workforce housing and affordable homes. The money also will be used to continue the Home Ownership Education, Counseling and Training (HECAT) Program, which is intended to reduce the gap in homeownership between white people and people of color. Further, landlords will be required to prorate rate when a lease ends early.
In concluding remarks, the bill's author, Senator Rich Draheim, R-Madison Lake, said, "We're at mile one on a marathon," and that much work remains to improve access to affordable housing and home ownership. "I truly believe it is important to have a pathway to homeownership to get people out of poverty," he said.
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