- Created: Friday, 03 February 2017 06:17
During its January meeting, the board of the Minnesota Housing Finance Agency (MHFA) discussed updates at the state legislature, the statewide Analysis of Impediments to Fair Housing, modifications to the downpayment and closing cost assistance program, proposed amendments to the 2018 housing tax credit Qualified Allocation Plan, funding for the Minnesota City Participation Program and more.
In her report to the board, Commissioner Mary Tingerthal focused on activity at the legislature. First, she provided an update on the housing portion of the governor’s budget. In addition to putting forward the Agency’s base budget — approximately $100 million over the two-year biennium — the governor included one-time funding for two housing initiatives.
One housing initiative included in the governor’s budget is an $8 million proposal, “Homework Starts with Home,” to address housing instability of school children. It would be a collaborative effort with the Department of Education and enlist counties and school districts. Tingerthal added that the Heading Home Funders Collaborative pledged to raise an additional $1 million in private funds for the initiative.
The second proposal from the governor is included in his racial equity initiative. The Agency would receive $2 million in downpayment assistance and counseling funds to promote home ownership targeted for households of color.