4.11 HRSR 02-01-2016 - Laserfiche WebLink

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include a meaningful contribution from area employers that reduces the need for deferred loan or grant funds from state resources; or (ii) provide housing opportunities for an expanded range of household incomes within a community or that provide housing opportunities for a wide range of incomes within the development. Comparable proposals with contributions from local units of government or private philanthropic, religious, or charitable organizations must be given preference in awarding grants or loans. In addition, qualifying projects must meet the overall challenge income limits. o $ 13.5 million in fiscal year 2016 and $11.5 million in fiscal year 2017 for the housing trust fund under Minnesota Statutes, Section 462A.201. MHFA is required to give funding priority to projects that focus on creating safe and stable housing for homeless youth or projects that provide housing to trafficked women and children. $2 million of the appropriation is allocated for temporary rental assistance for families with school-age children who have changed their school or home at least once in the last school year. o $4 million each year for rental housing assistance for persons with a mental illness or families with an adult family member with a mental illness pursuant to Minnesota Statutes, Section 462A.2097. o $8.5 million each year for family homeless prevention and assistance programs pursuant to Minnesota Statutes, Section 462A.204. o $885,000 each year to the home ownership assistance program under Minnesota Statutes, Section 462A.21, subd. 8. The agency was further directed to continue to strengthen its efforts to address the disparity gap in the homeownership rate between white households and indigenous American Indians and communities of color. o $4.2 million each year to the affordable rental investment fund under Minnesota Statutes, Section 462A.21 subd. 8b to finance the acquisition, rehabilitation and debt restricting of federally assisted rental property and for making equity take-out loans under section 462A.05, subd. 39. The owner of any participating federally assisted rental property must agree to participate in the applicable federally assisted housing program and to extend any existing low-income affordability restrictions on the housing for the maximum term permitted. The owner must also enter into an agreement that gives local units of government, housing and redevelopment authorities, and nonprofit housing organizations the right of first refusal if the rental property is offered for sale. o $6.5 million each year to housing rehabilitation pursuant to Minnesota Statutes, Section 462A.05, subd. 14. Of that amount, $2.7 million each year is set aside for the rehabilitation of owner-occupied housing and $3.7 million each year is for the rehabilitation of eligible rental housing. The process and priorities under the challenge program set forth in Minnesota Statutes, Section 462A.33 are used for this program. o $857,000 each year toward homeownership education, counseling, and training program pursuant to Minnesota Statutes, Section 462A.209. Priority may be given to funding programs that are aimed at culturally specific groups who are providing services to members of their communities. o $375,000 each year is appropriated toward capacity building grants pursuant to Minnesota Statutes, Section 462A.21, subd 3b. Of this amount, $125,000 each year 2 474371v1 JSB EL185-13