HF 3173

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/30/2023 12:01pm

A bill for an act
relating to housing; appropriating money for a grant to Riverfront Development
Partners to develop mixed-use buildings including housing units.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin APPROPRIATION; RIVERFRONT DEVELOPMENT PARTNERS.
new text end

new text begin $2,500,000 in fiscal year 2023 is appropriated from the general fund to the commissioner
of the Housing Finance Agency for a grant to Riverfront Development Partners to acquire
and develop the parcel at 1300 West Broadway Avenue in Minneapolis along with adjacent
parcels. The appropriation may be used to acquire, design, and construct property on the
parcels. Property developed on these parcels may be mixed-use but must include at least
70 new housing units, at least 60 percent of which must be affordable to households with
an income at or below 60 percent of area median income. This appropriation is onetime and
available until June 30, 2025.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end