Purpose of the Bill

The bill aims to improve housing infrastructure by authorizing the issuance of bonds specifically to fund a project that supports young people in need. The initiative underscores the importance of providing affordable housing along with support services for vulnerable youth.

Main Provisions

• Authorization of Bonds: The bill authorizes the issuance of $8,000,000 in housing infrastructure bonds. These funds are aimed at financing a housing project.

• Grant to Face to Face Health and Counseling Services Inc.: The authorized bond proceeds will be awarded as a grant to Face to Face Health and Counseling Services Inc. This grant will be used for the predesign, design, engineering, construction, furnishing, and equipping of a facility.

• Housing Facility Details: The facility, to be located at 1170 Arcade Street in St. Paul, will provide 20 units of affordable housing. This project specifically targets young people aged 18 to 24, offering them housing with support services on-site.

Significant Changes to Existing Law

• Amendment to Minnesota Statutes 2024 Section 462A.37: The bill modifies existing statutes to include an additional subdivision that allows for this specific issuance of bonds and the use of proceeds.

Relevant Terms

housing infrastructure, affordable housing, bonds, grant, Face to Face Health and Counseling Services Inc., support services, St. Paul, youth housing, Minnesota Statutes 462A.37