Expands allowable uses of funds in the Minnesota housing tax credit contribution account to include funding supportive services in supportive housing.

Minnesota HF2901 amends the allowable uses of funds in the Minnesota housing tax credit contribution account to include funding supportive services in supportive housing. This bill allows the agency to award grants and loans for multifamily and single-family developments for low and moderate-income persons and families. The funds can be used for gap financing, new construction, acquisition, rehabilitation, demolition, construction financing, permanent financing, interest rate reduction, and refinancing.

Expands allowable uses of funds in the Minnesota housing tax credit contribution account to include funding supportive services in supportive housing.

Minnesota HF2901 amends the allowable uses of funds in the Minnesota housing tax credit contribution account to include funding supportive services in supportive housing. This bill allows the agency to award grants and loans for multifamily and single-family developments for low and moderate-income persons and families. The funds can be used for gap financing, new construction, acquisition, rehabilitation, demolition, construction financing, permanent financing, interest rate reduction, and refinancing.