McKnight Foundation Gives $10.5 Million for Minnesota Affordable Housing

The Minneapolis-based McKnight Foundation has awarded $10.5 million to the Greater Minnesota Housing Fund of St. Paul to provide affordable housing in the state. The grant is one of eighty-three grants totaling $18.7 million awarded by the foundation in the fourth quarter.

The Greater Minnesota Housing Fund provides grants, loans, and other services to help working families gain access to affordable housing. It has also pursued a range of cost-reduction techniques to make housing more accessible, including an initiative that encourages local employers to invest in local and regional housing programs for their workers.

"In its first seven years, the Greater Minnesota Housing Fund has become a mainstay in rural Minnesota's future," said foundation board chair Noa Staryk. "It has developed innovative programs to help rural Minnesota's low-wage workers, families and children, and individuals disadvantaged by homelessness to live in safe, decent homes. While creating 4,900 affordable housing units, the Fund also has established important new financial partnerships with major Minnesota employers. We are proud of the success so far and happy to continue our support."

For a complete list of the foundation's fourth-quarter grants, visit: http://www.mcknight.org/grantee_results.asp?desc_keyword=&date_approved=11%2F22%2F2003&B1=Submit.