The 1995 settlement calls for housing throughout the region that replaces subsidized housing in an area of Minneapolis where poverty is more highly concentrated. We have a unique opportunity to take advantage of federal dollars at a time when resources for affordable housing are scarce, but sorely needed. It's the kind of leadership the Council can and should provide when faced with issues that challenge the region's ability to remain competitive in the future. The deadline for all 770 units to be completed is April 2002. Meanwhile, the cost of housing goes up and money buys less.
Time is money.
That's why the Council is stepping in to get things going. Furthermore, everybody wins when families of all incomes have housing that's safe, attractive and affordable. We all lose when families are forced into unacceptable conditions, fostering the kinds of problems that ultimately threaten the region's quality of life and impose higher social costs on everyone. The goal is to support the region's lowest-income families and give them the opportunity to become self sufficient and vital members of their communities. Mondale says the decision to own and operate the federally subsidized units would go beyond its formal obligations under the Hollman settlement, but says the challenge is well suited to the Council's mission, as a regional agency, to provide cost-effective, critical services.