MHP’s recently released 2x4 report shows some of the lowest foreclosure and eviction rates of the past decade, and a boom in multifamily home construction. But low rental vacancy rates and steadily climbing rents continue to tighten the competition for lower-priced rentals, putting further strain on most renter households.
In March’s Minnesota Housing board meeting the agency introduced new staff, commented on the legislative session, made changes to housing programs, and provided an update on homelessness in Minnesota. Commissioner Tingerthal began by offering support for the governor’s supplemental budget and its initiative to address racial inequities in Minnesota. Agency staff informed the board on altered scoring procedures for the Community Impact Fund and approved the extension of a rental rehab deferred loan pilot. Cathy ten Broeke, the state Director to Prevent and End Homelessness, updated the board on new homelessness trends and commented on the new two year action plan. Read below for further detail.
The growing cost of housing in Minnesota hurts low to moderate income families and the communities they call home. From 2000 to 2014, the statewide median income declined among homeowners and renters, but housing costs increased, creating a housing cost burden for 1 in 3 Minnesota households.
MHP’s 2016 Legislative District Profiles, released last week, document these trends using data specific to each legislative district, economic development regions, and the state. The profiles are created to accommodate busy schedules of housing advocates and local governments by providing a comprehensive yet concise overview of state housing trends, focusing on housing affordability, wages, the rental market, the homeownership market, and homelessness.
In her opening remarks at the MN Housing February Board Meeting Commissioner Tingerthal introduced a new board member, Terri Thao. Thao is a Program Director for St. Paul based Nexus Community Partners. Tingerthal said that the governor was also reappointing current board chair John DeCramer, an engineer from Marshall.
Tingerthal updated the board on the fair housing complaint facing the Agency and several other jurisdictions. She said that the focus of the complaint with the Agency concerned the tax credit Qualified Allocation Plan. She and HUD staff met with representatives of MICAH and other complainants the day before the board meeting. She said that there was a connection between issues raised in the complaint and HUD Secretary Castro’s planned March 4 meeting in Minneapolis to pitch HUD’s Prosperity Playbook. Minneapolis is the second of five communities Castro is visiting to pitch the playbook initiative which is intended to provide best practices that HUD will profile on its new inclusive community website.