MINNEAPOLIS (WCCO) — Minneapolis Mayor Jacob Frey announced Friday that the city council has approved nearly $102 million of the federal funding awarded to the city through the American Rescue Plan.
Frey says the funding will prioritize the most urgent needs of the city, including affordable housing and a pilot program for guaranteed basic income (GBI). He says the vote broadly affirms his proposal on how to spend the funds.
“This funding will support important work to reignite our city,” said Frey. “We’re moving forward with purpose and urgency to support small and BIPOC-owned businesses and workers, expand our affordable housing work, and invest in a both-and approach to community safety.”
The funds are expected to begin distribution in August and include $28 million for affordable housing, $37 million for economic recovery, $13.7 million for public safety and $3 million for the Minneapolis GBI program.
About $12.7 million will be budgeted for enterprise investments “such as furlough relief and other staff needs,” according to the mayor’s office.
“As one of the first major cities to finalize a plan for deploying these crucial federal funds, Minneapolis is well-positioned to accelerate our inclusive recovery work and support our residents who have been most impacted,” Frey said.
The initial funding is the first of two rounds coming from the $271 million in federal funds allocated to the city. The remaining funds of approximately $169 million are expected to be approved later this year.
More details, including the impacted programs, can be found here.