Bill > SF2659

This bill creates a new legal framework for housing and redevelopment authorities to establish public corporations specifically for purchasing, owning, and operating properties converted through the federal Rental Assistance Demonstration (RAD) program. The legislation allows these newly created public corporations to have specific powers, including the ability to enter into contracts, accept federal or state funding, acquire real property, and operate with a board of directors composed of the commissioners of the originating housing authority. The bill defines the corporations as political subdivisions with limited powers, establishes governance requirements such as adopting bylaws, maintaining a business office in their creating city, and being subject to open meeting and data practices laws. The corporations can receive funding through the Minnesota Housing Finance Agency and are designed to help preserve and improve public housing properties. Key provisions include allowing the corporations to sue and be sued, accept gifts and bequests, hire staff, and enter into cooperative agreements. When dissolved, the corporation's assets will revert to the originating housing authority. The bill is set to become effective on July 1, 2025, and amends several existing statutes to accommodate these new public corporations.

Government Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2659&ssn=0&y=2025