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Council holds first reading on housing trust fund to accept state affordable-housing aid
2659152 · January 21, 2025
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Summary
Hermantown council introduced an ordinance to create a housing trust fund to hold state-provided affordable housing aid; staff said state funding may carry affordability conditions and the council will vote at a future meeting.
The Hermantown City Council held a first reading of an ordinance to create a local housing trust fund that would accept and hold state-provided affordable-housing aid and other contributions to support local housing projects.
Chad Ranjadeghi, the city’s Economic Development Director, explained the fund’s purpose and statutory basis. “This is intended…
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