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

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HOUSE PASSES BONDING BILL WITH FUNDING FOR LOCAL PROJECTS

Friday, May 16, 2014

ST.PAUL – Early this morning, the House passed a Capital Investment package that includes $846 million in GO bonds and an additional bill that includes $200 million in further investments in infrastructure projects. The bills include priorities with statewide significance, focusing on higher education, regional assets, transportation, housing, and basic infrastructure as well as funding for several local projects. Representative Shannon Savick (DFL – Wells) advocated for the projects in the Legislature.

“Community members deserve a lot of credit for getting state funding for these local projects,” said Rep. Savick. “The Fountain Lake and Blazing Star Trail projects will both improve our community and I’m happy to see them funded.”

Local projects funded under the proposed bill include:
•    Fountain Lake Restoration - $7,500,000
•    Blazing Star State Trail - $433,000
•    Military Affairs Asset Preservation (Albert Lea eligible)
•    Wastewater Infrastructure Fund (Albert Lea eligible)
•    Wastewater Infrastructure Fund (Blooming Prairie eligible)

At a time when interest rates are still low, the 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 4.7 percent.

“Not only are we preserving our long term assets by making repairs and improvements,” said Savick. “We’re also boosting our local economy by creating jobs in the short term. This bill continues the work we’ve done this session to boost job creation in Greater Minnesota and I look forward to seeing those jobs come to our area when the projects get underway.”

Other highlights of the Capital Investment bill include:

•    $126 million for completion of the State Capitol renovation
•    $240 million in higher education projects for the University of Minnesota and MnSCU
•    Over $113 million for roads, bridges and vital transportation infrastructure.
•    $100 million for housing, the largest investment in state history.

The full breakdown of projects funded in both bills can be found here.