Minneapolis to invest nearly $18.5 million in affordable housing projects

MINNEAPOLIS (FOX 9) – The City of Minneapolis is investing nearly $18.5 million to help build new affordable housing and refurbish existing locations. 

What we know 

Minneapolis Mayor Jacob Frey, along with city and community leaders, will unveil the 11 affordable housing projects which will be awarded funding from the Affordable Housing Trust Fund (AHTF). The funding will help aid in construction of new affordable housing and refurbish current locations.

The announcement will be made at a 10 a.m. press conference, which can be watched live in the player above.  

The AHTF helps provide gap financing for multifamily rental projects and is awarded through a competitive Notice of Funding Availability process. Those interested submit an application to be considered, then project recommendations are made to the BIHZ Committee before heading to the City Council for approval, according to the city’s website. 

What we don’t know

The Native American Community Clinic is one of the projects to receive funding. The remaining 10 will be named during the press conference.

This is a developing story, check back for updates.