HF 3563

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to the city of Minneapolis; appropriating 
  1.3             money for affordable housing and mixed commercial and 
  1.4             residential development in the Hiawatha corridor; 
  1.5             authorizing spending to acquire and better public land 
  1.6             and other public improvements of a capital nature; 
  1.7             appropriating money for new streets and infrastructure 
  1.8             in the Hiawatha corridor; authorizing issuance of 
  1.9             bonds. 
  1.10  BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.11     Section 1.  [APPROPRIATION FOR AFFORDABLE HOUSING.] 
  1.12     $....... is appropriated from the general fund to the 
  1.13  commissioner of trade and economic development for a grant to 
  1.14  the city of Minneapolis for a grant and loan program to promote 
  1.15  the development of single-family rental carriage house units in 
  1.16  areas of the city adjacent to planned light rail transit 
  1.17  stations and zoned for high density housing.  The city of 
  1.18  Minneapolis must coordinate with Fannie Mae and neighborhood 
  1.19  groups in the design and implementation of the program.  In 
  1.20  order to qualify for funding under this section, the owner of a 
  1.21  proposed rental housing unit must enter into an agreement with 
  1.22  the city to limit rents to 30 percent of 60 percent of the 
  1.23  metropolitan area median income for a period of at least ..... 
  1.24  years.  The city grant and loan program must give priority to 
  1.25  proposals to the degree that owners commit to long-term, 
  1.26  affordable rents and use energy efficient, nontoxic materials 
  1.27  and techniques. 
  2.1      Sec. 2.  [APPROPRIATION FOR MIXED-USE DEVELOPMENT.] 
  2.2      $....... is appropriated from the general fund to the 
  2.3   commissioner of trade and economic development for a grant to 
  2.4   the city of Minneapolis to collaborate with neighborhood groups 
  2.5   to develop a grant and loan program to promote mixed-use, 
  2.6   residential, and commercial development along neighborhood 
  2.7   commercial corridors adjacent to planned light rail transit 
  2.8   stations.  Priority must be given to projects qualifying for 
  2.9   federal TEA-21 funds for mitigating the effects of freeway 
  2.10  development on neighborhoods.  Priority must also be given to 
  2.11  projects committing to long-term housing affordability to 
  2.12  persons at or below 60 percent of the metropolitan area median 
  2.13  income. 
  2.14     Sec. 3.  [APPROPRIATION FOR CAPITAL IMPROVEMENTS.] 
  2.15     $....... is appropriated from the bond proceeds fund to the 
  2.16  commissioner of administration for a grant to the city of 
  2.17  Minneapolis to construct new streets, water and sewer lines, and 
  2.18  other infrastructure improvements in the Hiawatha corridor and 
  2.19  for associated planning and development costs, including land 
  2.20  acquisition, subject to the requirements of Minnesota Statutes, 
  2.21  section 16A.695. 
  2.22     Sec. 4.  [BOND SALE.] 
  2.23     To provide the money appropriated in section 3 from the 
  2.24  bond proceeds fund, the commissioner of finance, on request of 
  2.25  the governor, shall sell and issue bonds of the state in an 
  2.26  amount up to $....... in the manner, on the terms, and with the 
  2.27  effect prescribed by Minnesota Statutes, sections 16A.631 to 
  2.28  16A.675, and by the Minnesota Constitution, article XI, sections 
  2.29  4 to 7. 
  2.30     Sec. 5.  [EFFECTIVE DATE.] 
  2.31     Sections 1 to 4 are effective the day following final 
  2.32  enactment.