MN SF4544

Appropriates $3,500,000 from bond proceeds to the commissioner of employment and economic development for a grant to the city of Richfield for Veterans Village development and construction.

Veterans Village is a 183-unit multifamily housing project providing affordable housing with veterans' priority on the site of American Legion Post 435 in Richfield.

Authorizes the commissioner of management and budget to sell and issue general obligation bonds up to $3,500,000 to fund the appropriation.

Bond proceeds, excluding accrued interest and premiums, shall be appropriated to the city of Richfield for the housing project purposes.

Becomes effective the day following final enactment.