HF 2581

as introduced - 90th Legislature (2017 - 2018) Posted on 04/04/2017 08:57am

A bill for an act
relating to disaster assistance; appropriating money to the Housing Finance Agency
for disaster assistance.

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

Section 1. new text begin ECONOMIC DEVELOPMENT AND HOUSING CHALLENGE
PROGRAM; APPROPRIATION.
new text end

new text begin $5,000,000 in fiscal year 2018 is appropriated from the general fund to the Housing
Finance Agency for transfer to the housing development fund for the economic development
and housing challenge program under Minnesota Statutes, section 462A.33, for assistance
in the area included in DR-4290, as provided in Minnesota Statutes, section 12A.09. The
maximum loan amount per housing structure is $20,000. Within the limits of available
appropriations, the agency may increase the maximum amount if the cost of repair or
replacement of the residential property exceeds the total of the maximum loan amount and
any assistance available from FEMA, other federal government agencies, including the
Small Business Administration, and private insurance and flood insurance benefits. This is
a onetime appropriation and is available until June 30, 2021.
new text end