Bill > HF2619

This bill authorizes the Minnesota Housing Finance Agency to issue up to $8,000,000 in housing infrastructure bonds (HIBs) to provide a grant to Face to Face Health and Counseling Services, Inc. for a specific housing project in St. Paul. The grant will be used to predesign, design, engineer, construct, furnish, and equip a facility with 20 units of affordable housing specifically targeted to young people ages 18 to 24. The bill amends existing statutes to include this new bond issuance and establishes a mechanism for repaying the bonds through annual transfers from the general fund to the housing infrastructure bond account. These transfers will occur each July 15th from 2027 through 2048, with the amount not to exceed the annual debt service on the bonds. The bonds are part of Minnesota's ongoing efforts to support affordable housing initiatives, with this particular project focusing on housing and support services for young adults. The bill becomes effective the day after its final enactment.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2619&ssn=0&y=2025