SF 1909

as introduced - 89th Legislature (2015 - 2016) Posted on 03/20/2015 09:14am

A bill for an act
relating to housing finance; appropriating money to the Housing Finance Agency
for housing projects near training centers for high-growth job areas.

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

Section 1. new text begin HOUSING FINANCE AGENCY; APPROPRIATION.
new text end

new text begin (a) $1,000,000 in fiscal year 2016 is appropriated from the general fund to the
commissioner of housing finance for a competitive grants program to fund housing
projects with training centers for jobs in high-growth job areas.
new text end

new text begin (b) Grants must be no more than 50 percent of the total development costs for the
project and shall be awarded to housing projects in communities:
new text end

new text begin (1) that have low housing vacancy rates; and
new text end

new text begin (2) that have an education and training center for jobs in agriculture, farm business
management, health care fields, or other fields with anticipated significant job growth
potential.
new text end

new text begin (c) Funds for grants made in this section must be to housing projects that have
financial and in-kind contributions from nonagency sources that when combined with a
grant under this section are sufficient to complete the housing project. This is a onetime
appropriation. If funds remain uncommitted at the end of fiscal year 2016, the agency
may transfer the uncommitted funds to the housing development fund and use the funds
for the economic development and housing challenge program under Minnesota Statutes,
section 462A.33.
new text end