Bill > HF2461

This bill addresses housing development funding through three key provisions. First, it transfers $10 million from the general fund to the housing development fund in fiscal year 2026 as a one-time transfer. Second, it appropriates $5 million to the Housing Finance Agency for a grant to NeighborWorks Home Partners to establish a manufactured home down payment assistance program, which can be used in conjunction with other buyer assistance programs. Third, it allocates another $5 million to the Housing Finance Agency for a grant to the Northcountry Cooperative Foundation to create a loan fund supporting the conversion of manufactured home parks to cooperative ownership. The manufactured home park conversion program includes provisions for various financial assistance types like direct loans, interest rate subsidies, and loan guarantees, and requires that converted properties maintain manufactured home park status for 30 years. These appropriations are specifically designated for fiscal year 2026 and aim to support affordable housing initiatives for manufactured home owners and residents.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2461&ssn=0&y=2025