Great news coming from Washington DC direct to Minnesota:Â the Federal
Government has just announced a list of states that will be receiving
federal funding to jumpstart new construction projects.Â Minnesota is
one of the 26 lucky states that was chosen to receive part of the
With the slowing of the US economy taking a
heavy tolll on construction starts and developments, particularly in
the residential market, the American Recovery and Reinvestment Act of
2009 has just allotted funding to 26 states to increase availability of
"affordable housing options for low-income families at a time when
those options are needed more than ever."
Minnesota was one of
the first states chosen to receive the funding, and you can expect new
housing developments to be started in the very near future.Â The Act
even gives greater preference to those projects that start in the
immediately!Â With over $1 billion pledged to support these new housing
constructions throughout the country, US HUS Secretary Shaun Donovan
provided further explanation by clarifying, "the purpose of the
American Recovery and Reinvestment Act of 2009 is to jumpstart the
nation's ailing economy, with a primar focus on creaing and saving jobs
in the near term."Â So, the news for Minnesota is two-fold:
- Additional Minnesota homes will be built and become available to the public who needs them most.
- The new home developments will create new jobs for residents of Minnesota who have been hit by the troubled economy.
you haveÂ questions regarding this great news for Minnesota residents,
or any real estate questions in general, please do not hesitate to
contact me.Â One of the first steps to succesfully weathering this
economy is to stay informed and up-to-date on all of the programs
available in Minnesota!
Make it a great day!
Ahmed Elbatrawy, REALTOR
Re/Max Associates Plus
7300 France Avenue
Minneapolis, MN 55435
Tel (952) 915-2220