as introduced - 91st Legislature (2019 - 2020) Posted on 02/27/2020 04:33pm
A bill for an act
relating to housing; modifying the maximum grant or loan amount for workforce
housing projects; appropriating money; amending Minnesota Statutes 2018, section 462A.39, subdivision 5.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2018, section 462A.39, subdivision 5, is amended to read:
The amount of a grant or deferred loans may not exceed deleted text begin25deleted text endnew text beginnew text end
percent of the rental housing development project cost. The commissioner shall not award
a grant or deferred loans to a city without certification by the city that the amount of the
grant or deferred loans shall be matched by a local unit of government, business, or nonprofit
organization with $1 for every $2 provided in grant or deferred loans funds.
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