BAM Letter to Members of Housing Finance & Policy Conference Committee

Re: BAM Written Testimony; HF2335

On behalf of the Builders Association of Minnesota (BAM), I would like to thank you for the opportunity to share written testimony. Our membership of nearly 1600 residential builders, remodelers, subcontractors, and industry partners are joined together through eleven local associations across Minnesota, and we are proud to be the statewide voice of the Minnesota Home-Building Industry since 1974.

BAM Supports:

• First Generation Homebuyer Downpayment Assistance Fund: We applaud both chairs for including robust funding, and thank Representative Agbaje and Senator Oumou Verbeten for authoring the legislation. BAM enthusiastically supports innovative efforts like this that will help create more housing units in the marketplace and address Minnesota’s troubling housing disparities gap. We urge the Conference Committee to adopt the Houses’ higher funding commitment ($150m).
• Greater MN Infrastructure Grants: These grants to reduce infrastructure costs for new workforce housing underscore the need to help residential developers address housing affordability by reducing rising upfront costs across the state.
• Housing Cost Reduction Incentive Program: BAM appreciates the Senate’s inclusion of this innovative local fee waiver program that highlights the need to reduce city and county fees to help lower housing costs.

BAM respectfully requests that these provisions be included your Conference Committee Report.