MN HF1983

Modifies Minnesota Statutes section 383D.41 to add new subdivision establishing threshold criteria for low-income housing tax credit allocation by the Dakota County Community Development Agency.

Allows the Agency to allocate tax credits in the first round for up to three new construction or substantial rehabilitation multifamily housing projects that are not age-restricted to persons 55 years or older.

Eligible projects must be located within specified distances of public transportation facilities: one-half mile of light rail, bus rapid transit, or commuter rail stations; one-fourth mile of high-frequency local bus lines; one-half mile of high-frequency express route stops; one-half mile of park and ride lots; or one-fourth mile of high-service public transportation fixed route stops.

Defines "high-frequency local bus line" as service every 15 minutes between 6:00 a.m. and 7:00 p.m. on weekdays and 9:00 a.m. to 6:00 p.m. on Saturdays.

Defines "high-frequency express route" as service with six or more trips during peak morning hours between 6:00 a.m. and 9:00 a.m. and every ten minutes during peak hours, and "high-service public transportation fixed route stop" as service approximately every 30 minutes during operating hours.