Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Adaptive Reuse topic
No spam. Unsubscribe anytime.
Bill would expand HIB eligibility to support adaptive reuse of vacant school buildings for affordable housing
Summary
Representative Lee sponsored House File 1340 to allow housing infrastructure bonds to be used for adaptive reuse or building conversions, creating a financing pathway for nonprofit developers to compete for surplus school properties.
Representative Lee presented House File 1340 on March 25 seeking to expand the eligible uses of housing infrastructure bonds (HIDs/HIBs) to include adaptive reuse and conversion of vacant buildings, such as surplus school properties, into affordable housing.
Tom Parent of Minneapolis Public Schools testified in support, noting that school districts sell excess properties to recoup value for district building funds and that allowing HIBs for adaptive reuse would help nonprofit developers (including those serving homeless youth) compete for surplus school properties in ways that prioritize affordable housing outcomes. Parent described three recently sold Minneapolis school properties that will include housing components and urged policy incentives to protect district taxpayers while enabling community-serving reuse.
Representative Lee said the bill does not allocate new dollars but expands statutory eligibility so that conversions to affordable housing are an eligible HIB use; projects would still follow MHFA processes and scoring. The item was heard informally; no committee vote was taken.
