HF 4166

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/22/2024 02:55pm

A bill for an act
relating to housing; appropriating money for a grant to the Minneapolis Foundation
for the GroundBreak Coalition.

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

Section 1. new text begin APPROPRIATION.
new text end

new text begin $30,000,000 in fiscal year 2025 is appropriated from the general fund to the commissioner
of the Minnesota Housing Finance Agency for a grant to the Minneapolis Foundation for
the GroundBreak Coalition. Before the grant is awarded, the commissioner must confirm
that the GroundBreak Coalition has $30,000,000 in matching funds. The grant may be used
for down payment assistance loans, home preservation loans, and capacity-building grants.
Any payments made on loans must be reinvested. The Minneapolis Foundation and
GroundBreak partners shall establish criteria and procedures for determining eligibility,
evaluating funding applications, and administering the program. The criteria and procedures
must be submitted to the commissioner for feedback. This is a onetime appropriation.
new text end