Minnesota HF 2745: Veterans housing infrastructure bonds issued, and money appropriated.

Bill Text

1.1 A bill for an act​
1.2 relating to housing; authorizing housing infrastructure bonds to be issued for​
1.3 veterans housing; appropriating money; amending Minnesota Statutes 2020, section​
1.4 462A.37, subdivision 2, by adding a subdivision; Minnesota Statutes 2021​
1.5 Supplement, section 462A.37, subdivision 5.​
1.6 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:​
1.7 Section 1. Minnesota Statutes 2020, section 462A.37, subdivision 2, is amended to read:​
1.8 Subd. 2.Authorization.(a) The agency may issue up to $30,000,000 in aggregate​
1.9 principal amount of housing infrastructure bonds in one or more series to which the payment​
1.10 made under this section may be pledged. The housing infrastructure bonds authorized in​
1.11 this subdivision may be issued to fund loans, or grants for the purposes of clause (4), on​
1.12 terms and conditions the agency deems appropriate, made for one or more of the following​
1.13 purposes:​
1.14 (1) to finance the costs of the construction, acquisition, and rehabilitation of supportive​
1.15 housing for individuals and families who are without a permanent residence;​
1.16 (2) to finance the costs of the acquisition and rehabilitation of foreclosed or abandoned​
1.17 housing to be used for affordable rental housing and the costs of new construction of rental​
1.18 housing on abandoned or foreclosed property where the existing structures will be demolished​
1.19 or removed;​
1.20 (3) to finance that portion of the costs of acquisition of property that is attributable to​
1.21 the land to be leased by community land trusts to low- and moderate-income home buyers;​
1.22 (4) to finance the acquisition, improvement, and infrastructure of manufactured home​
1.23 parks under section 462A.2035, subdivision 1b;​
1​Section 1.​
REVISOR JSK/HL 22-05501​01/19/22 ​
State of Minnesota​
This Document can be made available​
in alternative formats upon request​
HOUSE OF REPRESENTATIVES​
H. F. No. 2745​
NINETY-SECOND SESSION​
Authored by Berg; Nelson, M.; Lillie; Moran; Hollins and others​01/31/2022​
The bill was read for the first time and referred to the Committee on Housing Finance and Policy​
By motion, returned to Author​03/17/2022​

2.1 (5) to finance the costs of acquisition, rehabilitation, adaptive reuse, or new construction​
2.2 of senior housing;​
2.3 (6) to finance the costs of acquisition and rehabilitation of federally assisted rental​
2.4 housing and for the refinancing of costs of the construction, acquisition, and rehabilitation​
2.5 of federally assisted rental housing, including providing funds to refund, in whole or in part,​
2.6 outstanding bonds previously issued by the agency or another government unit to finance​
2.7 or refinance such costs; and​
2.8 (7) to finance the costs of acquisition, rehabilitation, adaptive reuse, or new construction​
2.9 of single-family housing.; and​
2.10 (8) to finance the costs of construction, acquisition, rehabilitation, adaptive reuse, or​
2.11 new construction of single-family housing for veterans, including a duplex, triplex, or​
2.12 four-plex.​
2.13 (b) Among comparable proposals for permanent supportive housing, preference shall​
2.14 be given to permanent supportive housing for veterans and other individuals or families​
2.15 who:​
2.16 (1) either have been without a permanent residence for at least 12 months or at least four​
2.17 times in the last three years; or​
2.18 (2) are at significant risk of lacking a permanent residence for 12 months or at least four​
2.19 times in the last three years.​
2.20 (c) Among comparable proposals for senior housing, the agency must give priority to​
2.21 requests for projects that:​
2.22 (1) demonstrate a commitment to maintaining the housing financed as affordable to​
2.23 seniors;​
2.24 (2) leverage other sources of funding to finance the project, including the use of​
2.25 low-income housing tax credits;​
2.26 (3) provide access to services to residents and demonstrate the ability to increase physical​
2.27 supports and support services as residents age and experience increasing levels of disability;​
2.28 (4) provide a service plan containing the elements of clause (3) reviewed by the housing​
2.29 authority, economic development authority, public housing authority, or community​
2.30 development agency that has an area of operation for the jurisdiction in which the project​
2.31 is located; and​
2​Section 1.​
REVISOR JSK/HL 22-05501​01/19/22 ​

3.1 (5) include households with incomes that do not exceed 30 percent of the median​
3.2 household income for the metropolitan area.​
3.3 To the extent practicable, the agency shall balance the loans made between projects in the​
3.4 metropolitan area and projects outside the metropolitan area. Of the loans made to projects​
3.5 outside the metropolitan area, the agency shall, to the extent practicable, balance the loans​
3.6 made between projects in counties or cities with a population of 20,000 or less, as established​
3.7 by