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Residents, Nonprofits Urge Council to Protect Barnes Fund, Back Revolving Housing Production Fund
Summary
Speakers at the Metro Council meeting pressed the council to increase and protect affordable-housing funding, asking for $30 million for the Barnes Fund and for the city to issue bonds for a revolving housing production fund to build permanently affordable housing.
Dozens of housing advocates, nonprofit leaders and residents urged the Metropolitan Council to preserve and expand the city’s affordable-housing funding during public comment on the city’s operating and capital budgets.
Speakers repeatedly asked the council to keep the Barnes Housing Trust Fund at $30 million and to create a revolving housing production fund funded by municipal bonds so the city can act as majority owner of permanently affordable developments. Advocates said the combination — more immediate subsidies from Barnes plus a bond-funded, self-replenishing production fund — would speed delivery of homes and protect long-term affordability.
The c…
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