Ramsey County approves $14.4 million for affordable housing infrastructure, fulfills joint funding commitment with Saint Paul
Today, the Ramsey County Board of Commissioners approved $14.4 million in funding for eight affordable housing development projects through the 2023 Housing Development Solicitation. The funds distributed will be American Rescue Plan Act (ARPA) dollars, which satisfies the county’s commitment to obligate the full amount of its dedicated ARPA funds, $37 million, into deeply affordable housing infrastructure.
Projects awarded ARPA funding by Ramsey County in the last two years are expected to add 406 new deeply affordable rental units to the current housing supply, helping bridge the gap to affordable housing for residents who earn at or below 30% Area Median Income (AMI). ARPA investments will have contributed to more than 956 new or preserved affordable housing units for low-to-moderate income renters.
Today, the Ramsey County Housing and Redevelopment Authority also approved levy funding for 11 affordable housing development projects, totaling $4 million. These funds were strategically leveraged with ARPA dollars, in alignment with Ramsey County’s Economic Competitiveness & Inclusion Plan, to increase the supply of deeply affordable rental units and further reduce racial disparities in housing.