Most of $60M in stimulus to Minneapolis unspentby Brandt Williams, Minnesota Public Radio
Minneapolis — Minneapolis city officials say most of the $60 million in federal stimulus money it's received hasn't been spent yet.
They say some of the funds will be spent gradually over the course of several years and about one third of the money just arrived in January. Minneapolis city coordinator Steven Bosacker said the city wants to move as fast as it can, but there are limits.
"There are a number of requirements," Bosacker said. "We have to follow a lot of our own policies in terms of putting things out to RFP. We have to follow a lot of federal regulations."
Bosacker said the city will also benefit from stimulus money awarded other local institutions and governments, such as the University of Minnesota and Hennepin County.
"The University of Minnesota has been awarded $139 million of the federal stimulus," he said. "A huge amount; [they've] been very successful in their efforts on the federal stimulus, so both of these will in numerous ways benefit our city and our residents."
Bosacker says the federal funds will save and create jobs for Minneapolis residents as well as fund critical road and bridge work.