ST PAUL, Minn. — Governor Tim Walz and Lt. Gov. Peggy Flanagan are looking to secure billions in funding for infrastructure projects around Minnesota through the largest capital investment recommendation in state history.
The $3.3 billion bonding proposal, unveiled Thursday, comes on the heels of Walz's "One Minnesota" budget rollout.
“The investments in our Infrastructure Plan are a down payment on the future of our state,” said Walz in a statement. “Strong infrastructure is what allows Minnesotans to live safe and healthy lives. It’s what keeps our drinking water clean, our roads and bridges safe to drive on, and our communities safe from flooding. The investments in our 2023 Infrastructure Plan will support the economic vitality of our communities, while creating thousands of good-paying jobs.”
The plan is broken down into five key areas: asset preservation, roads, bridges and water systems, community and equity, housing and homelessness and environmental stewardship.
More than $144 million is earmarked for local bridge replacements and $108 million for local road improvement projects, and nearly a third of the bonding proposal would go toward maintaining and renewing property that taxpayers own, more than $1.2 billion.
To address homelessness and the affordable housing shortage, the 2023 infrastructure plan includes $470 million for housing projects and $250 million investment in Housing Infrastructure Bonds.
“The 2023 Infrastructure Plan lays out a vision of safe, strong, and connected communities, with a historic investment in projects led by and for communities of color and Native communities to create a lasting impact for generations,” Lt. Gov. Flanagan added. “These investments are one of the most powerful tools we have to create critical jobs, address a spectrum of housing needs, promote community growth and building, center equity, and put us on a path of environmental stewardship.”
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