(KNSI) – Minnesota has approved a billion-dollar bill to help build new housing in rural Minnesota, improve access to affordable housing, allow for rent assistance, and reduce homelessness.
Governor Tim Walz signed the Housing Investment Act on Monday afternoon, calling it the largest single investment in housing in the state’s history. The omnibus bill allocates $200 million for a down payment assistance program, with an additional $150 million dedicated to first-generation home buyers.
House File 2335 also has $200 million for home improvements and $95 million for economic development. The legislation also includes $45 million to help the unhoused and $40 million to support workforce housing.
Last month, a workforce housing summit was held at St. Cloud State University, where local leaders discussed the need for affordable housing for workers.
On May 11th, the Lincoln Center homeless shelter was temporarily shut down while improvements were made to the facility. There is no timetable for its reopening.
Officials say housing is often the largest expense for a family.
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