Bill > HF1334

This bill modifies the existing high-rise sprinkler system program administered by the Minnesota Housing Finance Agency by expanding the definition of "eligible buildings" to include structures that are seven or more stories high and adjusting the income threshold for affordability from 50% to 60% of the area median income. The bill allows the agency to provide both grants and loans to building owners for installing sprinkler systems and potentially relocating residents during installation, with priority given to nonprofit applicants. The maximum grant per building remains $2,000,000, but now includes different matching requirements: nonprofit organizations must match 25% of the grant, while for-profit organizations must match 50%. Additionally, the bill transfers and appropriates $10,000,000 from the general fund to the housing development fund in fiscal year 2026, specifically earmarked for this high-rise sprinkler system program. This funding is designated as a one-time transfer and appropriation, aimed at helping older high-rise residential buildings improve their fire safety infrastructure, particularly in buildings with affordable housing units.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1334&ssn=0&y=2025