This bill authorizes the issuance of housing infrastructure bonds to finance a grant for the redevelopment of the Glendale Townhomes by the Minneapolis Public Housing Authority. Specifically, it amends Minnesota Statutes 2024, section 462A.37, by adding a new subdivision (Subd. 2l) that allows the agency to issue up to $7,000,000 in bonds, which can be pledged for payments under this section. The proceeds from these bonds are designated for the redevelopment project in Minneapolis, and the section becomes effective the day following final enactment.

Additionally, the bill amends Minnesota Statutes 2025 Supplement, section 462A.37, subdivision 5, to include a new paragraph (l) that outlines the annual transfer of funds to the housing infrastructure bond account for bonds issued under the new subdivision 2l. This ensures that the necessary appropriations from the general fund are made to support the ongoing financial obligations related to these bonds. The effective date for this amendment is also the day following final enactment.

Statutes affected:
Introduction: 462A.37