SF2566 - Omnibus Housing Appropriations Summary

• Appropriates $811,048,000 for fiscal year 2024 and $254,548,000 for fiscal year 2025 to the Minnesota Housing Finance Agency for various housing programs and initiatives.

• Establishes new housing programs including rent assistance ($65.7M), supportive housing ($40M), community stabilization ($100M), and housing infrastructure bonds ($250M authorization).

• Creates first-generation homebuyer down payment assistance fund (up to $32,000 per loan) and manufactured home cooperative purchase program with $10M revolving loan fund.

• Authorizes $811M in housing infrastructure bonds for purposes including supportive housing, affordable rental housing, manufactured home parks, senior housing, and single-family housing.

• Implements financial review requirements for nonprofit grant recipients and establishes new programs for lead-safe homes, housing mediation services, and capacity-building grants to nonprofits and local governments.