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Bill would create revolving loan fund to support locally owned, permanently affordable housing
Summary
Senate File 1913 would establish a revolving loan fund at the Minnesota Housing Finance Agency for municipalities to develop, acquire or rehab locally owned housing held in public trust for long-term affordability. Witnesses from counties and housing authorities urged support; amendment A2 was adopted prior to testimony.
Senator Bolden presented Senate File 1913 and an author's (A2) amendment, which the committee adopted before testimony. The bill would create a revolving loan fund at the Minnesota Housing Finance Agency (MHFA) to provide capital to counties, cities or other local municipal entities for developing, acquiring or rehabilitating locally owned housing. The sponsor described the model as "locally owned housing" in which municipalities keep a majority…
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