Purpose of the Bill

The bill aims to provide funding for the development of workforce housing in St. Cloud, Minnesota. The goal is to create affordable and modern living spaces for low-income and middle-income families, particularly those employed as frontline workers.

Main Provisions

• A total of $5 million is allocated from the general fund for the fiscal year 2026.
• This funding will be granted to the Center for African Immigrants and Refugees Organization (CAIRO) specifically for building the Iskufilan Village, which consists of 70 residential units.
• Construction funds must be spent by June 30, 2027, with amounts contracted by June 30, 2025.

Housing Requirements

• At least 10% of the housing units must be classified as affordable, aimed at households earning at or below 60% of the area median income.
• The remaining units are designated for middle-income families with earnings between 60% and 120% of the area median income.

Project Oversight and Design

• CAIRO is responsible for project planning, construction, and housing allocations, ensuring adherence to state and local workforce housing regulations.
• Emphasis is placed on constructing energy-efficient and family-friendly units, providing two, three, and four-bedroom options suitable for workforce families.
• The Minnesota Housing Finance Agency will monitor the financial management and adherence to affordability guidelines.

Reporting and Compliance

• CAIRO must report to the Minnesota Housing Finance Agency once the residential housing occupancy reaches 90%, ensuring compliance with the specified housing requirements.

Relevant Terms

affordable housing, workforce housing, St. Cloud, low-income families, middle-income families, area median income, CAIRO, Minnesota Housing Finance Agency, energy-efficient housing, frontline workers, Iskufilan Village