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.

The bill emphasizes the importance of prioritizing projects that serve veterans and individuals at risk of homelessness, as well as senior housing that remains affordable. It also outlines specific requirements for accessibility in new construction projects, mandating a certain percentage of units to be accessible and sensory-accessible. Overall, the legislation aims to enhance housing options for low-income households and ensure that supportive housing initiatives are effectively funded and implemented.

Statutes affected:
Introduction: 462A.37