Minnesota Legislature
SF 357
1st Engrossment - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 01/26/2007 | |
| 1st Engrossment | Posted on 03/12/2007 |
| Unofficial Engrossments | ||
|---|---|---|
| 1st Unofficial Engrossment | Posted on 03/05/2008 |
Current Version - 1st Engrossment
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14
A bill for an act
relating to housing; regulating transactions between certain low-income and
moderate-income housing developers and local units of government; proposing
coding for new law in Minnesota Statutes, chapter 462A.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
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[462A.35] COUNTY OR CITY PROPERTY TRANSFERS TO
NONPROFIT ORGANIZATIONS.
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If a nonprofit organization receives funding from the agency for a project to
construct or rehabilitate low-income or moderate-income housing, and a county, a city, or
an agency of a county or city is transferring property to the organization for the project,
the county or city must convey or otherwise transfer the property to the organization for a
consideration no greater than the cost to the county or city for acquisition of the property.
The county or city must also waive all development and other fees related to the project
that it would otherwise impose.
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