SF 2574

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to regional development commissions; 
  1.3             authorizing the headwaters regional development 
  1.4             commission to establish a nonprofit housing 
  1.5             corporation; proposing coding for new law in Minnesota 
  1.6             Statutes, chapter 462. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [462.3912] [REGIONAL HOUSING DEVELOPMENT.] 
  1.9      The headwaters regional development commission may 
  1.10  establish a not-for-profit corporation for the purposes of 
  1.11  increasing the supply of affordable housing and improving 
  1.12  opportunities for home ownership in development region two.  The 
  1.13  not-for-profit corporation may, among other things, acquire 
  1.14  land, accept grant and loan funds from the state and federal 
  1.15  governments, construct and rehabilitate housing units, and sell 
  1.16  or manage housing in the region.