Governor’s budget sets the stage for transformational investments in home
SAINT PAUL, MN, January 23rd, 2023 – As hundreds of thousands of Minnesota families, seniors, children, and workers struggle with housing instability and a lack of deeply affordable housing across the state, Governor Tim Walz’ housing budget represents a strong step forward.
“Everything starts with home and we welcome how the Governor is prioritizing and dramatically increasing our state’s investment in home. For too long we have substantially underinvested in housing compared to the need. The Governor’s announcement is a strong step forward. We are excited to work with the Governor and legislature to fund current and new programs with transformational investments,” said Ben Helvick Anderson, Vice President of Policy and Organizing at Beacon Interfaith Housing Collaborative.
Today, 220,000 households across every Minnesota county are cost-burdened, paying more than 30% of their income toward rent each month. 126,000 of these are forced to dedicate more than 50% of their budget to keeping a roof over their head.
There are several notable solutions to alleviate this problem. Housing Infrastructure Bonds create capital to develop new affordable housing and deepen the pool of options available, especially for people with low incomes. Governor Walz has been a strong champion of Housing Infrastructure Bonds and investing the capital needed to build housing for those who need it the most.
Another solution being championed at the state legislature is state rental assistance. Beacon Interfaith Housing Collaborative and allied organizations are working closely with Rep. Michael Howard, the Chair of the House Housing Policy and Finance Committee, and Sen. Zaynab Mohamed on the Bring it Home, Minnesota bill, HF11/SF11. This transformative piece of legislation would create a Minnesota rental assistance program that would provide support for all low-income renters struggling to afford their homes. (www.bringithomeminnesota.org)
Governor Walz’s commitment to home and essential investments in the Housing budget set the stage for promising negotiations and the ability to pass transformational bills like Bring it Home, Minnesota.
MEDIA CONTACT:
Heidi Mastrud
Vice President of Advancement and Communications
Beacon Interfaith Housing Collaborative
hmastrud@beaconinterfaith.org
