Bill > HF1340

This bill amends Minnesota housing infrastructure bond regulations to expand the purposes for which these bonds can be used, specifically allowing them to fund adaptive reuse projects for supportive and permanent housing. The bill enables the state housing agency to issue up to $30 million in bonds to support housing developments that serve vulnerable populations, with a particular focus on households earning 50% or less of the area median income. Key additions include allowing bonds to be used for adaptive reuse of housing (converting existing buildings to housing), and creating specific preferences for projects that serve veterans, individuals experiencing chronic homelessness, and low-income households. The bill also maintains existing provisions that prioritize projects with accessibility features, such as roll-in showers and sensory-accessible units, and seeks to balance housing investments between metropolitan and non-metropolitan areas. The goal is to increase affordable housing options by providing more flexible financing mechanisms for developing and rehabilitating housing for low-income and vulnerable populations.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1340&ssn=0&y=2025