SF 423

as introduced - 90th Legislature (2017 - 2018) Posted on 01/31/2017 09:42am

A bill for an act
relating to housing finance; establishing a grant program for landlord risk
mitigation; appropriating money; amending Minnesota Statutes 2016, section
462A.07, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2016, section 462A.07, is amended by adding a subdivision
to read:

new text begin Subd. 17. new text end

new text begin Landlord risk mitigation grants. new text end

new text begin It may make grants to local units of
government or nonprofit organizations to establish landlord risk mitigation programs that
reduce landlord financial risks of renting to individuals or families who are homeless or at
imminent risk of homelessness, or who do not qualify for rental housing under standard
screening criteria. Eligible programs reimburse landlords for costs including nonpayment
of rent or building or room damage costs above those costs covered by security deposits.
The commissioner shall give higher priority to applicants who can certify a matching amount
of money by a local unit of government, business, or nonprofit organization. The
commissioner shall establish a procedure to review and validate claims and reimbursements
under this grant program.
new text end

Sec. 2. new text begin APPROPRIATION.
new text end

new text begin $250,000 in fiscal year 2018 is appropriated from the general fund to the commissioner
of housing finance for landlord risk mitigation grants under Minnesota Statutes, section
462A.07, subdivision 17. Grants must be targeted for communities and regions that have
low rental housing vacancy rates and have cooperatively developed a plan that identifies
current and future housing needs, including placing individuals and families who do not
qualify for affordable rental housing under standard screening criteria.
new text end