From the Metropolitan Council's press release:
With affordable housing in short supply in the Twin Cities region, the Metropolitan Council has approved $8 million in grant awards to 10 affordable housing developments. The grants will fill project funding gaps and help create 557 new affordable homes and preserve another 113 affordable housing units.
The grants are part of the Met Council’s Livable Communities program, investing in communities to help them achieve their goals of economic prosperity, job creation, housing choices, and mobility.
“Admittedly, the need for affordable housing in our region is far greater than these grants can address, but these projects make an important contribution toward creating homes for more people in the region,” said Lisa Barajas, director of Community Development at the Met Council.
“Eight million dollars is the most the Met Council has ever awarded from the Livable Communities housing fund in one year,” said Barajas. “The Council increased the amount available to enhance opportunities for affordability and advance racial equity in the region.
“These dollars will help leverage nearly $88 million in private investments and more than $112 million in other public investments to provide safe, affordable housing to low- and moderate-income residents in the metro area,” she said.
The Met Council grants are part of a collaboration with Minnesota Housing and other funding partners. Barajas says the Met Council awards focus heavily on housing that serves families earning at or below $31,450 a year for a family of four, where there is the greatest need.
Six awards made for multifamily rental housing :
Minneapolis Public Housing Authority Family Housing expansion, Minneapolis: $1.4 million toward an 84-unit project that will be built on 16 sites in the city. Small apartment buildings will consist of four or six units to serve homeless families and those receiving rent assistance.