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HF 1416

as introduced - 92nd Legislature (2021 - 2022) Posted on 03/18/2021 06:05pm

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 02/22/2021

Current Version - as introduced

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A bill for an act
relating to capital investment; appropriating money for the One Family One
Community housing project.

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

Section 1. new text beginONE FAMILY ONE COMMUNITY; PILOT PROGRAM.
new text end

new text begin $5,000,000 in fiscal year 2022 is appropriated from the general fund to the Minnesota
Housing Finance Agency for a grant to One Family One Community, a 501(c)(3) nonprofit
organization, to establish a program to acquire vacant or foreclosed properties that may be
used for residential purposes, and to predesign, design, and construct or renovate housing
to be sold to persons at or below 50 percent of area median income, with priority given to
persons at or below 30 percent of area median income. In addition to any other requirements
of the program, a person acquiring a home must participate in the organization's
homeownership training and counseling program, have an income at or below 50 percent
of area median income, contribute to the construction or renovation of the home with capital
or in-kind contributions, and agree to maintain the home. One Family One Community may
use up to ten percent of the appropriation for home ownership training and counseling of
persons participating in the program. This is a onetime appropriation and is available until
June 30, 2024.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end