St. Paul, Ramsey County announce investment of $74 million for ‘deeply’ affordable housing
14 Dec 2021
Officials with the city of St. Paul and Ramsey County plan to pool more than $74 million of federal American Rescue Plan funding for what they are calling “deeply affordable housing.”
Mayor Melvin Carter said at a press conference Monday that the city will invest $37.5 million into a “30 percent Area Median Income” housing fund and Ramsey County has committed to invest an additional $37 million. It represents one of the largest uses of federal relief dollars for affordable housing in the nation.
The funds will be used to expand housing in the east metro, including the construction of more than 1,000 permanent housing units with a 30 percent area median income.