WASHINGTON — U.S. Senators Amy Klobuchar and Tina Smith announced more than $6.7 million in grant funding for investments in Minnesota organizations to promote affordable housing. The Volunteers of America National Services in Eden Prairie received $6 million and Twin Cities Habitat for Humanity received $735,000. These resources come from a U.S. Department of the Treasury fund that promotes affordable housing and economic development in economically distressed neighborhoods across the United States.
“Increasing the availability of homes that families can fit in their budget is one of the most important issues for our state,” Klobuchar said. “These resources will help Minnesotans build and maintain reliable, affordable housing.”
“Affordable housing is the foundation for healthy families and economic opportunity in Minnesota,” Smith said. “If you don’t have a safe, affordable place to live, it’s nearly impossible to find a job, manage your health and engage with your community. But right now virtually every Minnesota community has a shortage of quality, affordable housing. That’s deeply troubling. These investments will help address our state’s housing insecurity and lift up families.”
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) seeks to promote activities in areas of economic distress across the United States.
More information about the CDFI Fund can be found here.