A City Council committee has approved tapping approximately $8.9 million from the city’s Affordable Housing Trust Fund for 11 projects.
The committee also authorized appropriating an additional $2.5 million in contingency funding for future projects as authorized in the 2015 city budget.
Projects approved by the Council’s Community Development & Regulatory Services Committee on Tuesday will help finance 371 new units of affordable housing and preserve 543 existing affordable units in Minneapolis.
City Council Member Lisa Goodman (Ward 7) said she was happy to see funding for the preservation of affordable housing in addition to new construction projects.
“We are seeing in the city more than I have ever seen before private buildings moving to market rate,” she said.
Since it was established in 2003, the Affordable Housing Trust Fund has helped produce 6,544 housing units, which includes 4,341 units considered affordable for people at or below 50 percent of the area median income.
The full Council will consider the committee’s action on Friday, Nov. 6.
Here’s a rundown of funding the committee approved:
— $1.861 million for the Ebenezer Park Apartments, 2700 Park Ave. S., to preserve 200 senior housing units.
— $363,000 for Anishinabe Bii Gii Wiin, 1600 E. 19th St., to rehab 45 units and preserve 32 units.
— $728,210 for the PRG 2 Portfolio project, 2730 Portland Ave. S., to preserve/rehab 49 large units for families.
— $1.05 million for the Plymouth Stevens House in Near North and Whittier neighborhoods to preserve and rehab 207 federally assisted affordable housing units.
— $550,000 for the Nicollet @ 36th project, 3601 Nicollet Ave. S., for 57 new units.
— $900,000 for the Greater River Landing Project, 813 5th St. N., for 72 units of new construction for previously incarcerated and homeless tenants.
— $900,000 for the Longfellow Field Senior Housing Project, 2800 27th Ave. S., for 62 new senior housing units.
— $900,000 for the House of Charity Housing project, 714 Park Ave., for 65 new units.
— $525,000 for the PRG 1 Portfolio project, 3708 Elliot Ave. S., to preserve 42 large units for families.
— $81,900 for the Indian Neighborhood Expansion Club, 2101 S. 5th St., for 20 new units.
— $1 million for the West Broadway Curve, 1920 W. Broadway Ave., for 63 new units.