Bill > HF2559

This bill provides $11,500,000 in state funding from the general fund to the Minnesota Housing Finance Agency, specifically designated as a grant to the Rondo Community Land Trust in fiscal year 2026. The grant is intended to support a home buyer initiative pilot program focused on affordable housing, with a specific targeting mechanism that ensures the housing will be accessible to households earning up to 115 percent of the area median income, as defined by the U.S. Department of Housing and Urban Development (HUD). This is a one-time appropriation, meaning the funding is not recurring and is intended for a specific, limited-time purpose. The Rondo Community Land Trust, which has historical significance in the Twin Cities area as representing a historically Black neighborhood displaced by highway construction, will use the funds to help create homeownership opportunities for lower and moderate-income residents.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2559&ssn=0&y=2025