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Legislative News and Views - Rep. Shannon Savick (DFL)

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HOUSE INTRODUCES BONDING BILL WITH FUNDING FOR LOCAL PROJECTS

Tuesday, April 1, 2014

The 2014 Omnibus Bonding Bill was unveiled in the House Capital Investment Committee today. Included in the bill is funding for several local projects. Representative Shannon Savick (DFL – Wells) advocated for the projects in the Legislature.

“I’m thrilled to see our local projects included in the House bill,” said Rep. Savick. “The Fountain Lake and Blazing Star Trail projects were both included last year, but the bill failed to get the bipartisan support it needed to pass. I’m hopeful that we will see bipartisan support for these important projects this session.”

At a time when interest rates are still low, this borrowing bill will allow the state to stretch taxpayer dollars and boost job creation. Minnesota added more than 45,000 jobs during 2013, and currently has an unemployment rate of 4.8 percent.

“Infrastructure projects really serve two purposes,” said Savick. “They help preserve our long term assets while also creating jobs in the short term. Our local projects will do just that.”

Local projects funded under the proposed bill include:
•    Fountain Lake Restoration - $7,500,000
•    Blazing Star State Trail - $500,000
•    Military Affairs Asset Preservation, Albert Lea
•    Wastewater Infrastructure Fund, Albert Lea
•    Wastewater Infrastructure Fund, Blooming Prairie

The bill, in total, allocates $850 million in general obligation bonds for statewide infrastructure improvements in higher education, transportation, housing, economic development, clean water and wastewater systems.  

Highlights of the Capital Investment Bill include:
•    Protects natural resources – from International Falls’ Voyaguers National Park to the Big Lake Sanitary District to Albert Lea’s Fountain Lake
•    Provides greater public safety through upgrades in flood mitigation, local roads and bridges, and dam repair.
•    Invests in asset preservation – MnSCU, the University of Minnesota and state agencies will get needed asset preservation funds for critical repairs.
•    Makes historic investments to address housing challenges across Minnesota.
•    Completes projects long past ready to go including civic centers in Mankato, Rochester and St. Cloud as well as the Minnesota Historical Society’s Oliver Kelly Farm and the Southwest Regional Sports Center in Marshall.
•    Makes a big dent in backlog for crumbling wastewater systems, roads and bridges throughout the state.

During the meeting, Rep. Hausman, Chair of the Capital Investment Committee, also unveiled the details of a separate bill that would make $125 million in cash investments through the use of one time budget surplus funds.
 

The full $850 million bonding bill can be found here: http://www.house.leg.state.mn.us/comm/docs/a14-1037.pdf.

The $125 million general fund bill can be found here: http://www.house.leg.state.mn.us/comm/docs/a14-1038.pdf.


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