This bill aims to enhance the manufactured home park redevelopment program in Minnesota by introducing new grant programs for manufactured home park lending and facilitating the purchase of manufactured home parks by cooperatives. It amends Minnesota Statutes 2022, section 462A.2035, subdivision 1b, to include provisions for both grants and loans for eligible recipients to acquire and improve manufactured home parks, as well as to develop necessary infrastructure such as storm shelters and community facilities.

Additionally, the bill appropriates significant funding to support these initiatives, including $25 million for manufactured home lending grants, $15 million for infrastructure grants and loans in fiscal years 2024 and 2025, and $10 million for grants to assist residents in organizing and purchasing manufactured home parks. The legislation outlines eligibility criteria for nonprofit organizations seeking grants, specifies the types of services that can be funded, and mandates the commissioner of the Minnesota Housing Finance Agency to develop necessary forms and reporting requirements within 90 days of enactment. Furthermore, it establishes conditions for the use of grant funds to ensure the creation and preservation of affordable housing.

Statutes affected:
Introduction: 462A.2035