MN SF3167

Establishes a workforce and affordable homeownership development program under the Minnesota Housing Finance Agency to award grants to nonprofit organizations, cooperatives, and community land trusts for development of workforce and affordable 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 specified income limits.

Requires the Housing Finance Agency to establish semiannual application deadlines and give preference to proposals with the greatest nonstate resource contributions; attempts to distribute grants in approximately equal amounts to applicants inside and outside the metropolitan area.

Appropriates to the Minnesota Housing Finance Agency in fiscal years 2017 through 2025 an amount equal to the proceeds of mortgage registry tax and deed tax collected that exceed 2015 levels, with funds supplementing traditional funding sources and prohibited from paying bond debt service.

Requires annual reports beginning January 15, 2018 to legislative housing and workforce development committees detailing funded projects and specific uses of grant funds.