Purpose of the Bill

The bill is designed to support the development of affordable housing in the town of Bridgewater, located in Rice County, Minnesota. It aims to improve public infrastructure essential for the establishment of the Bridgewater Affordable Housing Community.

Main Provisions

• Funding Appropriation: The bill allocates $4,500,000 from the bond proceeds fund to the Public Facilities Authority. This funding is intended as a grant for the town of Bridgewater to support infrastructure development.
• Infrastructure Projects: The allocated funds will be used to construct necessary public infrastructure, including a well, a wastewater treatment system, and roads to support the new housing community.
• Bond Sale Authorization: The bill authorizes the commissioner of management and budget to sell and issue state bonds, up to the specified amount of $4,500,000, to provide the necessary funds for these projects.

Significant Changes to Existing Law

This bill facilitates the issuance of state bonds specifically for the development of the Bridgewater Affordable Housing Community. This involves coordination with existing Minnesota statutes related to the sale and issuance of state bonds.

Relevant Terms

• Bond proceeds fund
• Public Facilities Authority
• Grant
• Public infrastructure
• Wastewater treatment system
• State bonds