- Created: Tuesday, 09 January 2018 08:32
- Written by Carolyn Szczepanski
How should the state allocate its bonding resources for housing to have the biggest impact — and take full advantage of federal funds? Last year, a new proposal came forward (supported by MHP) that sought to amend Minnesota bond statute to develop more rental housing. After much discussion among organizations across the affordable housing sector, MHP, along with the Family Housing Fund and Greater Minnesota Housing Fund, convened a facilitated process to gather stakeholder input and work toward common ground on the allocation of tax-exempt bonds.
Last month, that process concluded with a number of positive outcomes, most notably five significant agreements that will be advanced in the upcoming state legislative session. In addition, MHP will be continuing a conversation around an area that the stakeholder steering committee did not reach agreement: aligning those agreements with the state’s Qualified Allocation Plan moving forward.
“With such significant need and so many Minnesota families paying more than they can afford for housing, we need ensure that the resources we have are used in a way that provides the most impact, especially for those with the lowest incomes,” said Anne Mavity, Executive Director of MHP. “This process not only paved the way for more effective use of tax-exempt bonds, but convened the type of robust conversation and diverse input we need to come up with solutions that truly move the needle.”