ST. PAUL – The Minnesota House announced Wednesday a capital investment package which prioritizes asset preservation, water infrastructure, and transportation projects. The spreadsheet and bill text can be found on the House Capital Investment Committee home page.
The House’s target for the bill accommodates $825 million in General Obligation (GO) bonds. More than two-thirds of the funds are dedicated toward bricks-and-mortar projects. That includes nearly $364 million for asset preservation such as state-owned buildings, $120 million for road and transportation infrastructure, and $153 million for water and conservation projects. The House Capital Investment Committee has held more than a dozen committee hearings this session to thoroughly vet dozens of the projects included in the bill, and the committee traveled throughout the state to visit more than 100 potential projects last summer, many of which are included in the proposal.
“Minnesotans expect us to maintain public infrastructure, following the simple notion that we should take care of the property we own,” said House Capital Investment Committee Chairman Rep. Dean Urdahl, R-Acton Township. “We are addressing the important needs of our cities and state, while respecting the taxpayers. This is a sound bill with good geographic balance and I look forward to bipartisan support.”
Urdahl said he is especially pleased the bill directs $120 million toward Public Facilities Authority (PFA) programs, which ultimately benefit taxpayers by providing favorable terms for local water infrastructure projects.
The House Capital Investment Committee is expected to hold a public hearing on the proposal on Friday, May 04.