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CHAPTER 1s <br />Minn. Stat. § 462A.073 et seg; The sale of state tax-exempt bonds is the primary financing for MFHA <br />MHFA: Minnesota City programs. Through the Minnesota City Participation Program, Minnesota <br />participation grogram. Housing sells mortgage revenue bonds on behalf of cities to meet locally <br /> identified housing needs. The proceeds of these bonds provide below-market <br /> interest rate home mortgage loans for low- and moderate-income, first-time <br /> homebuyers, or for the construction or rehabilitation of single- and multi- <br /> family housing. Appropriations from the Legislature provide additional <br /> funding for programs, including the promotion of energy conservation; an <br /> increase in home ownership opportunities for first time homebuyers; home <br /> improvement grants to very low-income homeowners; and programs to <br /> improve the housing available to Native Americans, large families, and <br /> people with disabilities. <br /> B. Department of Employment and <br /> Economic Development (DEED) <br />Minn. Stat. ch. 116J; The Minnesota Department of Employment and Economic Development is <br />Minnesota Department of the primary development agency for Minnesota. DEED staff is responsible <br />Employment and Economic for a wide range of grant and loan programs, as well as for providing <br />Development. <br />technical assistance to businesses and communities. <br />Minn. Stat. §§ 116J.411 to DEED also provides grants for contamination cleanup and redevelopment; <br />116J.424; administers the rural development program; makes challenge grants to <br />The usDA Development.. regional organizations to encourage private investment in rural areas; and <br /> administers a revolving loan fund to provide loans to new and expanding <br /> business. in rural Minnesota. Local government units, including cities, may <br /> receive these loans if the community has established a local revolving loan <br /> fund and can provide at least an equal match to the loan received. <br />Minn. Stat. § 1161.431; Cities outside the seven-county metropolitan area may receive grants from <br />Greater Minnesota Business <br />Development Infrastructure Grant DEED for up to 50 percent of the capital costs of public infrastructure <br />necessary for certain specified economic development projects, excluding <br />grogram. retail and office space. For this program, "public infrastructure" means <br /> publicly owned physical infrastructure necessary to support economic <br /> development projects, including but not limited to sewers, water supply <br /> systems, utility extensions, streets, wastewater treatment systems, <br /> stormwater management systems, and facilities for pretreatment of <br /> wastewater to remove phosphorus. <br />Minn. Stat. § 1161.431, suba. z. Under this law, an "economic development project" for which a county or <br /> city may be eligible to receive a grant under this section includes <br /> manufacturing; technology; warehousing and distribution; research and <br /> development; agricultural processing or industrial park development that <br /> would be used by any one of these businesses. <br />Minn. star. § t 16J.43s. DEED runs the Innovative Business Development Public Infrastructure <br /> (BDPI) program that provides grants to local governmental units on a <br /> competitive basis statewide for up to 50 percent of the capital cost of the <br /> public infrastructure necessary to expand or retain jobs. <br />15:18 <br />LEAGUE OF MINNESOTA CITIES <br />This chapter last revised 12/1/2011 <br />