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Governor Walz bonding proposal released yesterday would fund 73 projects across Minnesota. Fifty-one percent of the projects would have statewide impact, and 22% of the projects are in greater Minnesota.
The proposal is transportation-centric, including rail safety improvements. It also funds projects for higher education campuses and affordable housing.
“Our capital budget directs $150 million to the preservation of existing affordable housing and to create new homes for Minnesotans, across all income levels, in all areas of the state,” he said.
The Minnesota State Building and Construction Trades Council and LIUNA Minnesota & North Dakota support the $1.27B bonding package Governor Walz and Lieutenant Governor Flanagan announced earlier Tuesday.
“By making substantial capitol investments in transportation, higher education, housing, corrections and state asset preservation, the Walz-Flanagan Administration is demonstrating its commitment to meeting our state’s construction needs now and, in the future,” said Executive Director Jessica Looman.
“This bonding proposal will create jobs for Building Trades members in the entire state of Minnesota. The investments in our higher education campuses, our water infrastructure and local roads and bridges will help support our communities and grow the economies of greater Minnesota,” said Craig Olson, Secretary-Treasurer and President of the Duluth Building Trades Council.
Looman further explained that regular and sustainable bond funding is necessary to meet the infrastructure needs of the entire state.
A recent independent report graded Minnesota’s roads a ‘D+’, bridges a ‘C’, transit a ‘C-’, ports a ‘C+’, drinking water a ‘C-‘, and wastewater a ‘C’. The report can be found here: www.infrastructurereportcard.org/Minnesota.
“Minnesota’s infrastructure is in bad shape. Governor Walz’ and Lieutenant Governor Flanagan’s bonding proposal will fix Minnesota’s crumbling infrastructure, create jobs for Minnesotans and grow Minnesota’s economy”, said Tim Mackey, LIUNA Minnesota & North Dakota President & Business Manager.
“Walz and Flanagan are making critical investments in community infrastructure projects across the state. Fixing our transportation, transit, water and housing infrastructure will create tens of thousands of family-supporting jobs and help communities prosper”, Mackey said.
“The Legislature has the opportunity to fix our crumbling infrastructure and create jobs for Minnesotans. Interest rates are historically low. The state has a AAA bond rating and more than $3 billion in bonding capacity. Every year should be the year to fix our infrastructure and create jobs,” Mackey said.