City of Minneapolis Launches New Homeownership Program Aimed at Increasing Number of Homeowners in Minneapolis and Reducing Racial Disparity Gap in Homeownership

The City of Minneapolis launched Homeownership Opportunity Minneapolis (HOM), a new housing program aimed at increasing the number of homeowners in Minneapolis and reducing the racial disparity gap in homeownership. In the City’s 2015 adopted budget, the Minneapolis City Council approved Mayor Betsy Hodges’ recommendation of $940K ($840K for affordability assistance and $100K for outreach efforts) for HOM. It is anticipated that about 125 families will be served by the program this year