It’s Election Day

I’m writing this on Monday, just before Election Day. Historically, mid term elections have seen lower voting numbers. Not so this year. Funding for several Twin Cities metro projects on the ballot, several races (including, surprisingly, the Governor) are too close to call, and control of the Legislature is in the balance. Nationally, U.S. News is reporting that early voter participation points towards a record-breaking turnout, even higher than seen in 2018. We should anticipate as much in Minnesota as well.  And, so far, young people have participated in early voting at a much higher level than historical averages. St. Paul and other big districts are keeping students home. And election officials are preparing for scrutiny on voting, election results.
 
Beyond partisanship, I anticipate that the economy and inflation will impact voting. In recent weeks, most voters are giving the U.S. economy a dismal grade. That is, 56% of voters say the current state of the economy deserves a D or F, with inflation and the cost of necessities like groceries and gas driving their assessment.
 
​My encouragement? To my mind, we all have power – and responsibility. Use it and vote!
 
See you in the trenches.
B

• Bust of nationwide catalytic converter theft ring included MN search warrants. According to a spokesperson for the US attorney’s office, no federal charges in Minnesota at this time.

• Fed unleashes another big rate hike but hints at a pullback. It was the central bank’s 6th rate hike this year. The fed also is suggesting that it soon could shift to a more deliberate pace of future rate increases.
• U.S. employers add 261K new jobs in October; jobless rate rises to 3.7%. A sign that, as Election Day nears, the economy remains a picture of both solid job growth and painful inflation. Here is a piece by the U.S. Chamber on Understanding America’s Labor Shortage – and the most impacted states.

State

• Tim Walz and Scott Jenson’s plans for inflation and the economy (and what can MN’s governor really do?). The governor has limited power, especially in a state with our recent history of split-party control of the Legislature. 
• Control of the MN Legislature will be decided on the Range, in the suburbs, and mid-size cities.

 
 
Regional

• Amendment to City of St. Paul’s Rent Stabilization Ordinance. This ordinance was amended in Sep 2022; this statement outlines key amendments to the ordinance, including partial vacancy decontrol and clarifications of rental increases.
• St. Paul City Council backs deeply affordable housing projects. New $24M TIF district to support of Farwell Yards, two new apartment buildings by the intersection of Plato Boulevard and Water Street.
• The difference between St. Paul and Minneapolis in their approach to homeless encampments.
• CD 2 race between Angie Craig and Tyler Kistner is a very expensive toss-up.

 
 Election day is THIS week. Be sure to reference our East Metro Voter Guide to learn more about your candidates!
 
Subscribe to our Chamber Advocacy Update to keep up with advocacy news.

• Build a network to last the rest of your career. Join the LSP Class of 2023. Registration is open!
• November Lunch With Leaders, Economic Development Panel: Wed, Nov 9, 11:30am. Register here!
• Our Equity Summit V, Inspiring Human-Centered Leadership, is here: Nov 15, 8am – 2pm.  Register here!
• Please join us at St. Paul’s holiday party – Holiday Chamber Connect: Tuesday, Dec 6, 5-7pm. Register here!​
• And don’t miss the GLOW Holiday Festival, at CHS Field this year, Nov 23 – Jan 1, 2023.

• My input this week comes from an article I recently re-read about how leaders can reduce stress for employees instead of adding to it. Stress is a part of life in every workplace, and leaders sometimes contribute to the problem. Our team is small, and everyone’s approach to stress impacts the entire culture. It’s a priority area for me, and I wanted to share with you as well.

• Bank of America grants $200K to LEDC and RePowered. This is part of Bank of America Twin Cities’ Neighborhood Builders Program. I’m especially delighted about this program because it is unrestricted funding (very rare opportunity for nonprofits).
• Employers are asking employees to return to office 3 days/week.  Including US Bank.
• Seramount’s (formerly known as Working Mother magazine) 2022 100 Best Companies lists several Minnesota companies as ranked among best companies for working parents: U.S. Bank, General Mills, Abbot Laboratories, Boston Scientific, Allianz Life, Kohl’s, and Accenture. Minnesota also has ranked as one of the best states for working women, earlier this year, in a listing by WalletHub.

• Federal Reserve Bank of Minneapolis: Fresh updates to a housing affordability data dashboard maintained by the Federal Reserve Bank of Minneapolis, in partnership with the Itasca Project, convey a mixed message on our collective progress. Data updates to the Regional Housing Affordability Dashboard reflect the Minneapolis-St. Paul regional housing market over time and compared to peers. ​

• Saint Paul: The City of Saint Paul is currently soliciting proposals through its 30% AMI Deeply Affordable Housing Program. Applications will be accepted from October 27, 2022 through November 30, 2022. The goal of this RFP is to offer the City’s American Rescue Plan Act (ARPA) funding to developers to facilitate the creation of multifamily rental housing that includes units affordable to households at or below the 30% Area Median Income level ($35,190 for a family of four).  
• Great River Passage Conservancy unveils design for the River Balcony.
• Upcoming residential projects: apartments proposed near Roseville’s HarMar Mall and St. Paul’s planning commission OKs Trolley Line Condos project in Linden Hills. ​​