Bill > SF2681

This bill transfers $10,000,000 from the general fund to the housing development fund in fiscal year 2026 and then appropriates $5,000,000 to two separate housing assistance programs. The first $5,000,000 will be granted to NeighborWorks Home Partners to fund a manufactured home down payment assistance program, which helps eligible home buyers purchase manufactured homes by providing financial support that can be used in conjunction with other assistance programs. The second $5,000,000 will be granted to Northcountry Cooperative Foundation to create a loan fund supporting the conversion of manufactured home parks to cooperative ownership. This program can provide various types of financial assistance, including direct loans, interest rate subsidies, and loan guarantees. To ensure long-term housing stability, any deed purchased through this program must include a covenant requiring the land to be used as a manufactured home park for 30 years. The bill defines manufactured homes and manufactured home parks according to existing Minnesota statutes and specifies that these are one-time transfers and appropriations for fiscal year 2026.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2681&ssn=0&y=2025