Bill > SF2950

This bill appropriates $11.5 million from the state's general fund to the Minnesota Housing Finance Agency specifically for a grant to the Rondo Community Land Trust in fiscal year 2026. The grant is designated for a home buyer initiative pilot program with a specific affordability requirement: the program must serve households earning 115 percent or less of the area median income, as defined by the U.S. Department of Housing and Urban Development (HUD). The appropriation is a one-time funding allocation, meaning it is not a recurring annual expense. The Rondo Community Land Trust, named after a historically Black neighborhood in St. Paul that was displaced by highway construction, appears to be working to provide affordable homeownership opportunities, likely as part of broader community development and economic equity efforts.

Housing and Urban Affairs

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2950&ssn=0&y=2025