The bill amends Minnesota Statutes 2024, section 327C.097, subdivision 3, to modify the notice requirements for park owners who receive unsolicited offers to purchase manufactured home parks. Under the new provisions, when a park owner intends to consider an unsolicited offer, they must send a notice via certified mail to the Minnesota Housing Finance Agency and regular mail to each park resident household. The notice must inform residents that the park owner is considering the offer, provide an opportunity for a representative acting on behalf of residents or a nonprofit to make a competing offer, and include a monitored email address and telephone number for inquiries.

Additionally, the bill clarifies that the park owner is not obligated to sell to the residents' representative or nonprofit and can continue negotiations with other parties. The Minnesota Housing Finance Agency is tasked with distributing the notice to registered representatives and nonprofits within five days of receipt and must maintain a publicly available list of these entities on its website. The bill emphasizes that substantial compliance with the notice requirements is sufficient for the park owner.

Statutes affected:
Introduction: 327C.097