Minnesota is recognized as a national leader for its commitment to helping families with affordable ownership and rental homes. But while significant progress has been made in areas like homelessness, housing is still becoming too costly for growing numbers of Minnesotans — especially low- to moderate-income families and households of color.
Building on our County Profiles, released each year since 2009, MHP created the State of the State’s Housing to continue to benchmark progress at the state, region and county levels in critical areas, including cost-burdened households paying more than 30% of their income for housing; changes in rent and home values; construction of multi- and single-family homes; and trends in homelessness.
Here are 10 graphics that share the big picture on the state of housing in Minnesota.
Precipitated by a legal complaint to the U.S. Department of Housing and Urban Development (HUD), local government agreed to create an Addendum to the 2014 Regional Analysis of Impediments to Fair Housing. The Addendum specifically addresses housing discrimination, gentrification and displacement, barriers to housing choice, and conditions of segregation and integration in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott and Washington counties.
Mosaic Community Planning was contracted to produce this addendum to consider additional fair housing issues not covered in that document, update some of its data, and provide greater analysis of fair housing issues. Click here to learn more and download the draft, and keep reading to view the public meeting schedule.
During it's February board meeting, the Minnesota Housing Finance Agency (MHFA) discussed the possibility of allocating Agency resources to “top off” partially funded bond projects, the drop in value of housing tax credits, how the HAVEN proposal could change the way the state’s tax exempt bonding authority is allocated, potential administrators for the Bridges rental assistance grants, and amendments to the 2018 tax credit Qualified Allocation Plan (QAP).
Partial bond allocations
Housing Commissioner Mary Tingerthal began by explaining that the Agency was not yet moving forward on a proposal to make available tax exempt bond financing to developers whose projects received partial allocations through MMB (the state budget office). Because a developer had obtained a temporary restraining order against MMB regarding a bond allocation, MMB was holding back on allocating the contested bond amount until the court acts. Minnesota Housing would not know whether projects need more funding until the court action has concluded and the Agency learns what MMB does with the held back allocation.
To grow and sustain their economies, cities are looking for creative ways to make housing development work. Local Housing Trust Funds (LHTF) are a proven tool to help meet local housing needs — and MHP is leading the charge on a measure in the Minnesota legislature (HF 1607 | SF 1389) that would encourage and fund the creation of LHTFs across the state.
Local housing trust funds are a consistent, flexible resource for the development of housing within a local jurisdiction. These trust funds allow communities to attract additional resources from public and private organizations and jump start projects that draw investment and jobs. Administered by local jurisdictions, LHTFs enable communities to prioritize developments that maximize benefit to the local community.
With more than 770 city, county and state housing trust funds in 47 states and Washington, D.C., housing trust funds can be created in small and large cities, rural counties, and metropolitan areas. Nationwide, these funds generate more than $1 billion per year.