After bonds for housing were left out of last summer's bonding bill, housing and homeless organizations and the Minnesota Housing Finance Agency have been determined to work together to make bonding for housing a top priority at the Minnesota Legislature this year. As the end of session draws near, advocates are hopeful that their hard work together will pay off.
The Minnesota Senate proposed $36 million in bonds for housing and homelessness in their omnibus bonding bill this week. This is $4 million more than the $32 million in bonding for housing recommended by the governor earlier this year. The $36 million proposal comes as welcome news after last week, when the House of Representatives proposed only $15 million in bonds for housing and homelessness.
If passed, the bonding package will invest in public housing rehabilitation, housing preservation, rental housing development and community land trusts, and permanent supportive housing construction and rehabilitation. (See chart at end for a more detailed breakdown).
With housing included in the key bonding bills from the House, Senate, and Governor (see chart), we will likely see some money for housing passed this session. But the final amount is yet to be determined. Going forward, the House and Senate will have to come to agreement on bonding amounts in conference committee, the final bill will have to pass with votes from at least three-fifths of the members in each body, and the Governor will have to sign the legislation.
House (HF 2622)
Senate (SF 2577)
Governor (HF 2205/SF 1823)
|Public Housing rehabilitation (general obligation bonds)||$5 million||$6 million||$7 million|
|Housing Infrastructure Bonds to address foreclosures, permanent supportive housing for the homeless, and federally subsidized rental housing. (appropriations bonds)||$10 million||$30 million||$25 million|
|TOTAL||$15 million||$36 million||$32 million|