The Ramsey County Board of Commissioners and the Housing and Redevelopment Authority approved an investment of $21.6 million into affordable housing developments.
A total of 18 projects were awarded funding on May 10 and May 17. This adds approximately 450 new affordable units to Ramsey County's housing supply with nearly half designated as deeply affordable units at 30% Area Medium Income (AMI). This will dramatically increase the affordable housing supply, aligning with Ramsey County's Economic Competitiveness and Inclusion Plan to close the gap of the 15,000 units needed by residents.
The county board also approved an action to allocate the remainder of its previously committed funds through the American Rescue Plan Act (ARPA), $17 million, for additional investments in affordable housing projects. This is a part of Ramsey County's previous dedication of $37 million in ARPA funding, matched by the city of Saint Paul.
Learn more about affordable housing investments utilizing American Rescue Plan Act funding awarded in 2021.
Original source can be found here.
Alerts Sign-up