462A.16 DEFAULT IN PAYMENTS; APPOINTMENT OF TRUSTEE. If the agency defaults in the payment of principal or interest on any issue of notes or bonds after the same shall become due, whether at maturity or upon call for redemption, and such default continues for a period of 30 days, or if the agency fails or […]
462A.17 POWERS AND DUTIES OF TRUSTEE. Subdivision 1. Specific list. The trustee designated in any indenture or resolution securing an issue of notes or bonds, or a trustee appointed pursuant to section 462A.16, may, and upon written request of the holders of 25 percent in principal amount of such notes or bonds then outstanding shall, […]
462A.18 MONEYS OF AGENCY. Subdivision 1. Functions of commissioner of management and budget. All moneys of the agency, except as otherwise authorized or provided in this section, shall be paid to the commissioner of management and budget as agent of the agency, who shall not commingle such moneys with any other moneys. The moneys in […]
462A.19 EXEMPTION FROM TAXES. Subdivision 1. Property exempt from taxation. The property of the agency and its income and operation shall be exempt from all taxation by the state or any of its political subdivisions. Subd. 2. [Repealed, 1983 c 213 s 25] History: 1971 c 702 s 19; 1983 c 213 s 19
462A.20 HOUSING DEVELOPMENT FUND; CREATION, SOURCES. Subdivision 1. Creation; revolving. There is created and established under the jurisdiction and control of the agency a revolving fund to be known as the “housing development fund.” Subd. 2. Which money in fund. There shall be paid into the housing development fund: (1) any moneys appropriated and made […]
462A.201 HOUSING TRUST FUND ACCOUNT. Subdivision 1. Creation. (a) The housing trust fund account is created as a separate account in the housing development fund. (b) The housing trust fund account consists of: (1) money appropriated and transferred from other state funds; (2) interest accrued from real estate trust accounts as provided under section 82.75, […]
462A.202 LOCAL GOVERNMENT UNIT HOUSING ACCOUNT. Subdivision 1. Account. The local government unit housing account is established as a separate account in the housing development fund. Money in the account is appropriated to the agency for loans to cities for the purposes specified in this section. The agency must take steps to ensure distribution of […]
462A.2035 MANUFACTURED HOME PARK REDEVELOPMENT PROGRAM. Subdivision 1. Establishment. The agency shall establish a manufactured home park redevelopment program for the purpose of making manufactured home park redevelopment grants or loans for the purposes specified in this section. Subd. 1a. Individual assistance grants. Eligible recipients may use individual assistance grants and loans under this program […]
462A.204 FAMILY HOMELESS PREVENTION AND ASSISTANCE PROGRAM. Subdivision 1. Establishment. The agency may establish a family homeless prevention and assistance program to assist families who are homeless or are at imminent risk of homelessness. The term “family” may include single individuals. The agency may make grants to develop and implement family homeless prevention and assistance […]
462A.2065 REPORT ON LOSS OF HOUSING. Each year, the commissioner shall report to the chair of the house of representatives Housing and Housing Finance Division and to the chair of the senate Jobs, Energy, and Community Development Committee, the information provided in the reports made to the commissioner under section 469.0305. History: 1997 c 200 […]
462A.209 HOMEOWNERSHIP EDUCATION, COUNSELING, AND TRAINING PROGRAM. Subdivision 1. Full cycle homeownership services. The homeownership education, counseling, and training program shall be used to provide funding to community-based nonprofit organizations and political subdivisions to assist them in building the capacity to provide and providing full cycle homeownership services to low and moderate income home buyers […]
462A.2091 CONTRACT FOR DEED GUARANTEE ACCOUNT. Subdivision 1. Creation. The contract for deed guarantee account is created as a separate account in the housing development fund. Money in the account is appropriated to the agency for the purposes of this section. The account consists of money appropriated to the account and transferred from other sources […]
462A.2093 INNOVATIVE AND INCLUSIONARY HOUSING PROGRAM. Subdivision 1. Definitions. For purposes of this section, the following terms have the meanings given them in this subdivision. (a) “Municipality” means a town or a statutory or home rule city. (b) “Nonmetropolitan” means the area of the state outside of the metropolitan area. (c) “Inclusionary housing development” means […]
462A.2097 RENTAL HOUSING. The agency may establish a tenant-based or project-based rental housing assistance program for persons of low income or for persons with a mental illness or families that include an adult family member with a mental illness. Rental assistance may be in the form of direct rental subsidies for housing for persons or […]
462A.21 HOUSING DEVELOPMENT FUND; ADVANCES, USE REPAYMENT. Subdivision 1. Purposes. The agency may use the moneys held in the housing development fund for the purposes provided in this section. Subd. 2. Loans to nonprofit sponsors. It may make temporary loans to “nonprofit” sponsors to defray development costs, as provided by section 462A.05, subdivision 5. Each […]
462A.22 BOND FUND. Subdivision 1. Debt ceiling. The aggregate principal amount of bonds and notes which are outstanding at any time, excluding the principal amount of any bonds and notes refunded by the issuance of new bonds or notes, shall not exceed the sum of $5,000,000,000. Subd. 1a. [Repealed, 1983 c 185 s 15] Subd. […]
462A.221 DEFINITIONS. Subdivision 1. Terms. For purposes of sections 462A.221 to 462A.225, the following terms have the meanings given them. Subd. 1a. Allocating agency. “Allocating agency” means the Minnesota Housing Finance Agency and each county and city that allocates reserved tax credits as provided under section 462A.222, subdivision 1. Subd. 1b. Allocation. An “allocation” is […]
462A.222 LOW-INCOME HOUSING CREDITS. Subdivision 1. Credit reservations. The agency shall reserve a portion of the annual state ceiling for low-income housing credits provided under section 42 of the Internal Revenue Code of 1986, as amended, to (1) cities with a population of at least 50,000 that have a housing and redevelopment authority; (2) cities […]
462A.223 MINNESOTA HOUSING FINANCE AGENCY; DESIGNATED AGENCY. Subdivision 1. Credits to qualified nonprofit organizations. The agency is designated as a housing credit agency with authority to provide low-income housing credits for projects involving qualified nonprofit organizations under sections 501(c)(3) and 501(c)(4) of the Internal Revenue Code of 1986. The agency shall provide the ten percent […]
462A.225 STATE REGISTER NOTICE. The agency shall publish in the State Register a notice of the availability electronically of all data relating to the state ceiling, state demographer population and rental unit estimates, and other information or procedures specified in section 42 of the Internal Revenue Code of 1986, applicable United States Treasury Department regulations, […]
