Minnesota Governor Proposes Bonding Dollars for Affordable Housing Projects
Carol McCarthy | Jan 10, 2020 AT 7:45 am
ST. PAUL, MN--Governor Tim Walz is recommending to the Legislature that Minnesota borrow 276-million to pay for affordable housing projects. Walz revealed the first phase of his 2020 state bonding proposal yesterday. The DFL governor says the increased figure would go a long way to address housing needs in the state. The governor says the rising costs of homes is outpacing income. It was the first of four presentations that the Democratic governor has planned over the next week on his public works borrowing proposal for the 2020 legislative session.
Walz told reporters his “Local Jobs and Projects Plan” will total around $2 billion. A supermajority of the Legislature must approve the governor's proposal, requiring votes from both parties to pass.