The Ramsey County Board of Commissioners this month awarded $2.9 million to 11 affordable housing projects being undertaken by emerging and diverse developers.
The developments, 10 of which are located in St. Paul, will add or preserve 174 units of affordable housing in the county, according to a news release issued Tuesday. The 11th development is located in Falcon Heights.
The funds were awarded through the county’s Emerging and Diverse Developers solicitation process, which targets firms and individuals that have owned or developed no more than five Minnesota housing properties in the past decade.
The EDD program was launched in August “to address racial barriers in real estate, providing emerging and diverse developers with a fair and equal opportunity to thrive in the early stages of the development process,” the county’s news release said.
Participants in the program will receive mentorship from industry experts, education and training, as well as networking opportunities, according to the news release.
The county’s next round of funding solicitations for housing developments is expected to open in February.
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