St. Paul Mayor Melvin Carter said Monday the city will move forward with a proposal to offer low-income families up to $100,000 to help buy a home and build wealth.
Speaking at the 37th Annual Dr. Martin Luther King Jr. Holiday Celebration event in St. Paul, Carter said residents descended from people who lived in the old Rondo neighborhood would be eligible.
Once the vibrant heart of the Black community in the city, much of Rondo was demolished to build Interstate 94. Carter said those displaced saw little to no repayment for their losses.
“Our city council passed our inheritance fund proposal which will provide up to $100,000 in forgivable financing for descendants of Old Rondo to purchase a home and begin building wealth,” Carter said.
The city council advanced the plan last week. Carter said additional details about the program and eligibility would be made public in the coming days.
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