MN HF3377

Establishes a workforce and affordable homeownership development program administered by the Minnesota Housing Finance Agency to award grants to nonprofits, cooperatives, and community land trusts for developing owner-occupied multifamily or single-family housing.

Grant funds may be used for development costs, rehabilitation, land development, and residential housing including storm shelters and community facilities, serving households meeting income limits under section 462A.33, subdivision 5.

Commissioner must establish semiannual application deadlines and give preference to comparable proposals that include the greatest portion of funding from nonstate resources.

Agency must attempt to distribute grants in approximately equal amounts to applicants outside and within the metropolitan area, and submit annual reports beginning January 15, 2018 detailing funded projects and uses.

Appropriates annually to the Minnesota Housing Finance Agency for fiscal years 2017 to 2025 an amount equal to the increase in mortgage registry tax and deed tax proceeds collected compared to the previous year, with funds supplementing but not substituting traditional funding sources.