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Committee lays over bill creating a locally owned housing revolving loan fund with $10 million seed appropriation
Summary
House File 2,148 would create a Minnesota Housing Finance Agency revolving loan fund to support locally owned, permanently affordable housing owned at least 75% by the sponsoring municipality for 50 years. An A1 amendment set the initial appropriation at $10 million; the committee adopted A1 and laid the bill over.
Representative Ekbaje (bill author) presented House File 2,148 to establish a locally owned housing revolving loan fund at the Minnesota Housing Finance Agency (MHFA). The fund would make loans to cities, counties and local community development agencies to develop and preserve permanently affordable housing owned by a local public entity.
Nut graf: Proponents said locally owned housing—sometimes called social or publicly‑owned…
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