United Invests in Another Low Income Rental Housing Project–Minnesota–$50 Million This Time
Posted Nov 21 2013 10:27pm
We have doctors seeing Medicare Part D patients being fired right and left but there’s still enough money around to invest in the housing market. United is the first and largest investor in the program named the Minnesota Equity Fund. With current economic conditions with banks and insurers controlling all the money these days, I guess this is the way to help solve the problem, turn more folks into renters that can’t find decent paying jobs? Google is also investing in low income housing to the tune of around $86 million.
“OptumHealth Bank, Member FDIC, is dedicated to health care banking. It is a leading administrator of health savings accounts (HSAs) for individuals and families, with more than 500,000 accounts. OptumHealth Bank also offers credit programs to individual account holders to help them pay for out-of-pocket medical expenses.
The bank has other investments that are outside of the FDIC insurance area of health savings accounts as well and you can get a MasterCard debit card. BD
UnitedHealth Group Inc. said Thursday that it is putting $50 million into a fund to construct hundreds of low-income housing units in Minnesota and the Upper Midwest.
While the investment brings financial benefits, officials at the nation’s largest insurance company said it also aligns with a corporate belief that stable housing is a key component of better health.
“It’s a way to build healthier communities and healthier lives,” UnitedHealth spokeswoman Lynne High said. “It fits with our mission perfectly.”
The insurance giant is working with the Greater Minnesota Housing Fund, a 17-year-old nonprofit that recently created a new program to attract “socially motivated” Minnesota companies as investors.
The businesses provide the equity capital to finance low-income housing projects, and, in return, are awarded federal tax credits for 15 years.