Ramsey County approves $14.4 million for affordable housing
The Ramsey County Board of Commissioners approved $14.4 million for affordable housing on Tuesday.
The funds will go to eight affordable housing projects through the 2023 Housing Development Solicitation, the county said. The distributed funding will be American Rescue Plan Act dollars, which will satisfy the county’s commitment to use the full amount of its ARPA funds, $37 million, for affordable housing infrastructure.
Projects that the county awarded ARPA funding to are expected to add 406 affordable rental units to the current housing supply, the county said. ARPA funds will also have contributed to over 956 new or preserved affordable housing units for low or medium-income renters.
The Ramsey County Housing and Redevelopment Authority also approved levy funding of $4 million for 11 affordable housing development projects on Tuesday. These funds were also leveraged with ARPA dollars, the county said.