- Created: Wednesday, 16 February 2011 16:24
The budget news for housing is mixed in the wake of the Governor’s budget proposal released yesterday for the 2012-13 biennium. The proposed $77.19 million in state funds represents a 6% cut compared to actual funding for the 2010-11 period, and a 5% cut compared to proposed funding in budget recommendations made last year.
Overall, the Minnesota Housing Finance Agency’s budget prioritizes funding for programs that serve the homeless and very vulnerable, programs that leverage non-state resources, and programs not served well by other sources. However, housing production and rehab take a big hit, even though these activities create jobs and leverage investment.