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From YouTube: May 24, 2022 City leaders propose investment to provide residents access to homeownership
Description
Mayor Jacob Frey joined Council Members Jeremiah Ellison and LaTrisha Vetaw, City leadership from the Community Planning and Economic Development department, as well as community partners to highlight the proposed $2.5 million in American Rescue Plan Act (ARPA) funding dedicated to programming that will provide residents with access to homeownership. This ARPA funding is in addition to the $4.45 million in ARPA funding for reducing racial disparities in homeownership in July 2021 and the ongoing $2.5 million in the City’s annual budget for the Minneapolis Homes program.
A
A
The
ability
to
have
a
safe
place
to
go
home
to,
at
the
end
of
the
night,
to
rest,
your
head
on
the
pillow
to
rejuvenate
for
the
next
day,
the
ability
to
generate
equity
that
you
can
then
pass
on
to
your
kids
and
then
their
kids,
a
home.
Is
this
wonderful
place
of
stability?
And,
if
you
own
it
there's
some
assurance
that
you'll
have
it
for
a
long
period
of
time
and
that
was
made
possible
in
large
part.
A
A
They
had
the
ability
to
generate
intergenerational
wealth
in
a
way
that
black
people
following
world
war
ii
did
not
have
the
same
opportunity
to
do,
and
so
what
we're
trying
to
do
right
now
is
correct
and
change
a
lot
of
these
mistakes
and
shortcomings
from
the
past.
We
want
to
make
sure
that
people
have
the
opportunity
to
own
their
own
home
to
generate
equity,
to
pass
that
home
on
to
future
generations.
That's
what
this
all
is
all
about,
and
so
we're
investing
2.5
million
dollars
through
the
american
rescue
act
funding
in
our
minneapolis
homes
program.
A
A
It's
underutilized,
it's
vacant,
it's
not
generating
or
giving
anything
back
to
community,
and
so
they
want
to
put
up
a
home,
but
it
costs
around
three
hundred
thousand
dollars
to
put
out
that
home
and
they
know
that
when
they
sell
it,
they'll
only
get
two
hundred.
Fifty
thousand
dollars
back
so
there's
a
fifty
thousand
dollar
loss
to
do
what
we
all
understand
to
be
the
right
thing.
A
We
can
help
through
that
with
gap
financing.
Second,
a
lot
of
people
they're
able
to
pay
the
principal
amount
of
a
mortgage
they're
able
to
pay
that
monthly
fee
that
monthly
amount
of
money.
However,
they
don't
necessarily
have
thirty
or
forty
thousand
dollars
just
sitting
around
to
provide
a
down
payment.
A
You
can
get
in
at
a
perhaps
a
lower
level
or
a
lower
lower
price
point
so
that
you
too
can
have
the
opportunity
ultimately
to
own
your
own
home,
and
there
are
just
so
many
people
that
we
have
to
to
thank
for
this
work.
Several
of
them,
anyway,
are
are
speaking
very
shortly
here.
Adenka
badewa,
who
is
a
developer
of
this
particular
home?
A
I
don't
think
he
was
able
to
be
with
us
today,
but
you
know
we
need
to
have
these
partnerships
between
the
public
and
private
sector
and
he's
a
really
important
part
of
that
roxanne
young
kimball
and
her
entire
team
deserves
a
whole
lot
of
credit.
You
know,
thank
you
so
much
for
your
work.
You
all
are
incredible.
We
really
appreciate
it.
I
mean
in
the
last
year
I
think
we
pushed
out
last
two
years
we
pushed
about
about
10
million
dollars
specifically
to
the
minneapolis
homes,
program
and
home
ownership.
A
We've
got
stacey
horowitz
from
the
city
of
lakes,
community
land
trust
who
will
be
speaking
shortly
as
well
as
chad,
bully
from
habitat
for
humanity.
Again
always
it's
about
partnerships.
I
feel
like
a
broken
record
saying
it,
but
but
it
really
does
matter,
and
so
we've
been
putting
our
money
where
our
mouth
is
and
where
our
mouth
is
is
talking
about.
Homeownership.
A
B
Good
morning
and
welcome
to
ward
4.,
I
am
just
here
today
to
say
thanks
to
all
of
our
partners.
Thank
you
to
the
person.
That's
going
to
be
this
homeowner.
I
am
excited
about
the
future
of
our
investments
at
the
city.
Thank
you
to
the
mayor.
Thank
you
to
my
colleagues
on
the
council.
It's
very
important
that
we
continue
to
make
these
investments
in
our
communities,
especially
underserved
ones,
and
so
I'm
proud
to
be
here
standing
as
a
person
who
represents
ward
4
and
hopefully
welcoming
a
new
neighbor
to
the
neighborhood.
B
C
Thank
you,
mr
mayor.
The
mayor
talked
a
lot
about
some
of
the
history
of
of
housing
in
across
the
country,
but
but
certainly
applies
to
us
here
in
minneapolis,
and
you
know
it
reminded
me
of
that
old,
real
estate
map
from
the
1930s
in
which
you
see
that
you
know
what's
now
wards
four
and
five
where
electrician
I
represent
is
labeled,
as
quote
a
negro
slum
and
for
decades.
C
That
we're
here
is
an
example
of
of
us
being
able
to
do
that,
and,
and
and
and
really
it's
a
big
credit
to
staff.
It's
a
big
credit
to
to
the
folks
at
the
city
and
to
our
partners
who
who
help
us
create
this
work.
North
minneapolis
residents
don't
want
to
see
lots
that
could
have
families
that
could
have
those
pick,
those
picket
fences
and
those
porches.
They
don't
want
to
see
those
lots
vacant.
They
want
to
see
them
filled.
C
They
don't
want
to
see
the
homes
vacant
they
want
to
see
them
filled
with
people.
This
is
our
opportunity
to
really
do
that.
One
question
I
forgot
to
ask
is:
is
there
preference
policy
on
on
these
not
on
this
okay
cool,
not
on
this
unit,
but
we're
we're
we're
in
a
position
also
to
make
sure
that
if
people
have
been
priced
out
of
north
minneapolis
that
we're
creating
policies
that
allow
people
to
move
back
into
the
neighborhood?
C
And
so
these
are
really
important
things
and
really
important
steps
for
us
to
take.
As
we
are
creating
the
community
that
we
all
know
that
we
we
deserve.
And
so
again
I
just
want
to
thank
every
single
person
who
took
a
part
in
in
making
sure
that
we
could
make
this
home
a
reality
and
every
single
one
a
reality.
And
with
that
I
want
to
go
ahead
and
introduce
alfred
port
up
to
the
mic.
D
D
D
Since
the
mayor
became
since
the
mayor
took
office,
he
has
put
tens
of
millions
of
dollars
into
affordable
housing.
Council
members
have
supported
our
work
and
we're
in
the
position
now
to
make
these
types
of
investments
in
wards
four
and
five
because
of
the
disinvestment,
the
private
market
failure.
We
have
numerous.
I
mean
over
300
vacant
lots
in
in
these
wards.
We
need
to
put
systems
in
place
to
transition
those
vacant
lots
into
home
ownership.
D
The
developer,
that's
embarked
on
this
project
is
a
person
of
color,
an
african
of
african
descent
and
he's
unable
to
be
here
because
he's
vacationing
back
home,
but
the
work
on
this
project.
You,
you
have
an
opportunity
to
tour.
This
building,
see
the
craftsmanship
and
it's
the
kind
of
work
that
we
need
to
see
across
our
city
and
where
folks,
at
80
percent
of
the
area,
medium
income
can
be
in
a
position
to
purchase
not
just
in
north
minneapolis,
but
all
parts
of
our
city.
Thanks
a
lot.
A
Thank
you
so
much,
mr
alfred
port,
and
for
your
whole
team
for
all
of
the
work
that
they've
done
to
get
all
this
work
set
up.
Next
up,
we've
got
chad
booley
from
habitat
for
humanity.
Again,
this
work
requires
broad-based
partnerships,
and
habitat
has
done
a
ton
of
work
along
with
us
to
literally
get
these
homes
built.
E
Thank
you
for
the
opportunity
to
be
here
today
and
speak
on
behalf
of
twin
cities,
habitat
for
humanity.
As
many
of
you
know,
twin
cities,
habitat
for
humanity,
has
worked
in
the
affordable
home
ownership
arena
in
the
30
to
80
ami
since
1985,
and
we
have
built
50
to
50
to
60
homes
per
year
for
for
a
long
time
now,
unfortunately,
as
land
prices
continue
to
go
up,
material
prices
go
up.
E
So
we
are
looking
at
a
project
in
the
harrison
neighborhood
17
units
of
town
homes,
in
partnership
with
city,
minneapolis,
city
lakes,
community
land
trust
and
minnesota
housing
finance
agency,
where
we
are
looking
to
build
three-bedroom
1.5
bath
homes
on
average
and
the
city
has
stepped
up
with
900
000
of
grant
funding
out
of
their
missing
middle
program
as
well
as
550
000
out
of
their
arpa
funds
that
they've
received.
So
we
are
very
grateful
for
that.
E
F
Option
provides
the
opportunity
for
individuals
and
families
in
our
community
to
have
stable
housing
payments,
be
able
to
build
wealth,
build
equity
in
their
home,
and
it's
an
important
part
of
an
option
along
the
housing
continuum
that
we
see
between
rental
and
conventional
home
ownership
over
the
last
couple
years
through
city
of
lakes,
community
land
trust
and
the
resales
that
we
have
seen
of
our
existing
homeowners
about
55
percent
of
those
homeowners
have
converted
to
conventional
home
ownership.
So
it
demonstrates
the
opportunity
being
able
to
get
into
homeownership.
F
The
city
of
lakes,
community
land
trust,
deeply
appreciates
the
ongoing
partnership
with
the
city
of
minneapolis,
as
well
as
our
other
funders
in
the
county
and
in
the
state
and
through
the
leverage.
In
the
the
investments
that
we're
talking
about
today,
we're
going
to
be
able
to
assist
through
our
home
buyer
initiated
program,
project
sustain
legacy,
which
is
an
opportunity
to
stabilize
renters
and
existing
homeowners
in
the
city
of
minneapolis.