Minneslate Logo

SF2681 (Legislative Session 94 (2025-2026))

Manufactured home down payment assistance program and the manufacture home park cooperative purchase program appropriation

Related bill: HF2461

AI Generated Summary

Purpose of the Bill

The bill aims to support housing initiatives in Minnesota, specifically focusing on manufactured homes. It proposes financial support for down payment assistance and cooperative ownership conversions for manufactured home parks.

Main Provisions

  • Housing Development Fund Transfer: $10 million will be moved from the general fund to the housing development fund in fiscal year 2026. This is a one-time financial allocation to support housing projects.

  • Manufactured Home Down Payment Assistance:

    • Allocates $5 million for fiscal year 2026 to the commissioner of the Housing Finance Agency.
    • Funds are designated for NeighborWorks Home Partners to manage a down payment assistance program.
    • Additionally supports manufactured home financing products developed under previous legislation.
    • Assistance can be combined with other eligible programs for potential home buyers.

  • Manufactured Home Park Cooperative Purchase Program:

    • Also provides $5 million for fiscal year 2026 to the commissioner of the Housing Finance Agency.
    • Grants will go to the Northcountry Cooperative Foundation and affiliates to help convert manufactured home parks into cooperatively owned properties.
    • Financial aid options include direct loans, interest rate subsidies, loan guarantees, and forgivable loans.
    • Any land purchased through these loans must remain a manufactured home park for 30 years.

Significant Changes to Existing Law

This bill introduces specific financial measures to promote home ownership and cooperative models within manufactured home communities, which is an enhancement to previous housing support structures but does not alter existing laws fundamentally.

Relevant Terms

manufactured home, down payment assistance, cooperative ownership, financial assistance, housing development fund, manufactured home park, housing finance agency.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 16, 2025SenateFloorActionIntroduction and first reading
March 16, 2025SenateFloorActionReferred toHousing and Homelessness Prevention

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "The bill defines 'manufactured home' using the existing definition in Minnesota Statutes section 327B.01, subdivision 13.",
      "modified": []
    },
    "citation": "327B.01",
    "subdivision": "subdivision 13"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "The bill refers to 'manufactured home park' as defined in Minnesota Statutes section 327.14, subdivision 3.",
      "modified": []
    },
    "citation": "327.14",
    "subdivision": "subdivision 3"
  }
]

Sponsors