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Minnesota housing commissioner reports high demand, limited supply for Housing Infrastructure Bonds
Summary
Minnesota Housing Commissioner Jennifer Ho told the Capital Investment Committee on March 25 that housing infrastructure bonds (HIBs) remain a key state tool but demand far outstrips available funds, and recent awards preserved and created deeply affordable units statewide.
Commissioner Jennifer Ho of Minnesota Housing told the Capital Investment Committee on March 25 that housing infrastructure bonds remain a critical financing tool while demand continues to far outstrip available resources.
Ho, joined by legislative director Dan Kitzberger, told committee members the agency issues HIBs and maintains strong credit ratings and that HIBs leverage roughly one-to-one with federal programs such as the HOME Investment Partnership Program, the National Housing Trust Fund and Low-Income Housing Tax Credits. She said only about 5% of housing would be eligible for general obligation bonds because most affordable housing is privately owned, which makes HIBs a unique Minnesota tool to support privately developed affordable housing.
According to Ho, between 2012 and 2024 housing infrastructure…
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