St. Paul, Ramsey County plan to spend $74 million on ‘deeply’ affordable housing
“The city of St. Paul and Ramsey County are plunging tens of millions of federal Rescue Plan dollars into affordable housing for a group hurt by Minnesota’s continuing shortage of the sought-after homes.
The local governments want to spend $74.5 million to provide more housing options for people making 30 percent of the area median income, or about $31,500 a year for a family of four.
‘The demand is there, and the elected leaders are pushing for it. And developers say, ‘We’re happy to do it, but it just costs money,’ said St. Paul City Council President Amy Brendmoen. ‘And we need some, you know, if we’re going to get there, we need some gap financing.'”