This bill amends Minnesota Statutes 2024, section 462A.37, subdivision 2, to expand the use of housing infrastructure bonds for the development of supportive and permanent housing. Specifically, it allows for the financing of adaptive reuse projects aimed at creating supportive housing and permanent housing for households earning at or below 50 percent of the area median income. The bill authorizes the issuance of up to $30 million in housing infrastructure bonds, which can be used for various purposes, including the construction, acquisition, and adaptive reuse of housing, with a focus on affordability and support for vulnerable populations.

Key provisions include the prioritization of funding for permanent supportive housing for veterans and individuals at risk of homelessness, as well as senior housing projects that maintain affordability and provide access to necessary services. The bill also emphasizes the need for accessibility in new construction projects, mandating that a certain percentage of units be designed to accommodate individuals with disabilities. Overall, the legislation aims to enhance housing options for low-income households and improve the availability of supportive services in Minnesota.

Statutes affected:
Introduction: 462A.37