MN Housing Board Update: $2 Million in Workforce Housing Development Funds Awarded
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- Created: Friday, 13 April 2018 10:54
- Written by Carolyn Szczepanski
At its March meeting, the Minnesota Housing Finance Agency board discussed updates on state and federal legislation, additional funding for the Homework Starts with Home program, $2 million in awards through the Workforce Housing Development Fund, and changes to the Annual Action Plan based on expected increases in federal funds.
State Legislative Updates
In her opening remarks, Commissioner Mary Tingerthal provided an update on various priorities of Minnesota Housing at the state legislature. Tingerthal praised the release of Governor Dayton’s supplemental budget and tax bill, which includes supplemental funding for the Homework Starts With Home program. The proposal includes $4 million for the next year, and also proposes that HWSH be included in the base budget moving forward. Tingerthal added that the program had its first hearing in the House, where it received very strong support from the advocates of the program, including Northside Achievement Zone, St Paul Promise Neighborhood and Clay County.
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This week, congressional leaders passed a spending bill that includes a significant increase in funding for affordable housing and community development programs at HUD and USDA. The spending bill also includes an increase in Low Income Housing Tax Credits (LIHTC) and an important reform to the tax program.
A shareholder in Winthrop & Weinstine’s Real Estate Development and Tax Credit Financing group, Erin Mathern brings a deep understanding of the business side of real estate development to the MHP board. She considers it a privilege to contribute to the construction and rehabilitation of well-planned and thoughtful housing developments that provide tangible benefits to families and communities. Nationwide, Mathern represents for profit and nonprofit real estate developers with a focus on the development of affordable, multifamily housing utilizing low-income housing tax credits, historic rehabilitation tax credits and other forms of structured finance. Prior to private legal practice, Mathern spent more than a decade as development director of a Twin Cities-based builder / developer, focusing on urban, adaptive re-use projects including multifamily condominiums and apartments and mixed-use projects. Mathern uses her significant, first-hand experience in project planning, entitlements and approvals, agency finance, acquisition and disposition, and resolution of title matters to help move her client’s development projects forward. Outside of her legal practice, Mathern and her family own a specialty real estate development and design business.