HBA Advocacy Update

Federal Reserve Bank of Minneapolis Survey Results

Last month, HBA of F-M encouraged companies to participate in a survey on current conditions in the construction sector. 

Results include feedback from the Ninth District economy, which includes Minnesota, North Dakota, South Dakota, Montana, western Wisconsin and Michigan’s Upper Peninsula.

Click the links below to view results in your preferred format. 

Webinar

PowerPoint

Summary Article

If you would like to view results in more detail, please contact Elizabeth Kosel.

Horace Land Use Ordinance Hearing

A hearing with the Planning and Zoning Commission is scheduled for 6 p.m. Dec. 12 at the Horace Firehall. If you have business in Horace, this impacts you! 

Agenda packet is here. 

NAHB News: Bipartisan Workforce Housing Tax Credit Introduced

Legislators in the House and Senate recently introduced the Workforce Housing Tax Credit, which would create a new tax credit for affordable rental housing for households earning 100% or less of the area median income. Under this tax credit, federal tax credits would be allocated to each state and states would apply to then award credits to builders. 

For more information on how this positively impacts housing affordability and how it builds on an already successful tax credit, click here. 

Minnesota Budget and Economic Forecast

A few takeaways:

• The projected general fund surplus in fiscal year 2024-25 improved to $2.4 billion, up $808 million.
• Near-term U.S. economic outlook improves, driven by stronger than expected consumer spending, business  investment, and employment.
• Higher consumer spending and corporate profits raise the FY 2024-25 tax revenue forecast.

Click here to view more information from the presentation. 

View a more detailed report, here.