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Minneapolis pushes for affordable homeownership funding boost

November 13, 2024 | Minneapolis City, Hennepin County, Minnesota


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Minneapolis pushes for affordable homeownership funding boost
During a recent government meeting, advocates highlighted the importance of the Affordable Homeownership Preservation Grant, which is proposed in the mayor's 2025 budget with a one-time allocation of $100,000. This grant, established in 2018 through a collaboration between Twin Cities Habitat for Humanity and the Department of Regulatory Services, aims to support low-income homeowners in Minneapolis by providing critical home repairs.

To date, the program has successfully stabilized 30 homeowners, with each project costing between $15,000 and $20,000. The initiative not only preserves the city's housing stock but also prevents tax forfeiture, ensuring that vulnerable families can maintain their homes during challenging times. Advocates emphasized that for many clients, their current housing represents the safest and most affordable option available, given their limited resources.

In response to the growing needs of these homeowners, Twin Cities Habitat has employed a social worker to assist clients in accessing various social programs and community services. However, the meeting also revealed a pressing concern: Minneapolis currently has nearly 500 open housing orders, indicating a significant demand for support.

While the proposed $100,000 funding is appreciated, advocates are urging the city to increase the allocation to $295,000 in ongoing funding to expand the program's reach and continue its vital work in preserving affordable homeownership for low-income families in Minneapolis.

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Scribe from Workplace AI
Scribe from Workplace AI