The bill establishes a Cooperative Manufactured Housing Infrastructure Grant Program under Minnesota Statutes, section 462A.2036, which allows the Minnesota Housing Finance Agency to provide grants to counties and cities for up to 50% of the capital costs associated with housing infrastructure necessary for eligible cooperative manufactured housing development projects. The program prioritizes projects that have secured nonstate resources, which can include cash or in-kind contributions. The definition of "housing infrastructure" encompasses various publicly owned physical infrastructures, such as sewers, water supply systems, and streets, that support these housing developments. Additionally, the bill outlines the application process, eligibility criteria, and stipulates that a maximum grant amount of $60,000 per manufactured housing lot can be awarded.
To fund this initiative, the bill appropriates $10,000,000 from the bond proceeds fund to the Minnesota Housing Finance Agency for the grant program. It also authorizes the sale and issuance of state bonds up to the same amount to provide the necessary funding. The agency is tasked with evaluating grant applications based on their potential to increase housing availability for the workforce and stimulate public and private capital investment in the respective counties or cities. If a project does not progress within five years, the agency has the authority to cancel the grant and require the return of the funds.