MN HF4618

Adds subdivision 14 to Minnesota Statutes section 469.012 authorizing housing authorities to provide financial assistance (grants, loans, forgivable loans, bond issuance) for capital repair or replacement projects in multi-family housing buildings with assets having a lifespan exceeding 25 years and project costs exceeding $5,000,000

Requires that at least 25 percent of units in the housing building be rented or sold to low-income households meeting Department of Housing and Urban Development requirements

Requires that more than 25 years have elapsed since the asset or category of assets being repaired or replaced was last repaired or replaced

Permits assistance to be provided to common interest communities or individual unit owners regardless of whether assets are owned by unit owners or the community itself

Allocates $3,250,000 from the housing infrastructure program appropriation to the Wilder Park Association as a grant for a major capital repair project for an owner-occupied senior high-rise facility