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SF3165 (Legislative Session 94 (2025-2026))

Notice of offer requirements for unsolicited manufactured home park sales modification

Related bill: HF2964

AI Generated Summary

Purpose of the Bill

This bill aims to amend existing laws concerning the sale of manufactured home parks in Minnesota. The focus is to modify the notification requirements for park owners who receive unsolicited offers to sell their parks, ensuring transparency and opportunities for residents and nonprofits to participate in potential purchases.

Main Provisions

  • Notice Obligation: Park owners who receive an unsolicited offer to purchase their park and intend to consider it must notify the Minnesota Housing Finance Agency and each resident household.

  • Details in Notification: The notice must include:

    • Information that an offer has been received and is under consideration.
    • The price range and important terms upon which the park owner would consider selling.
    • An opportunity for residents or nonprofits acting on their behalf to make a purchase offer.
    • Contact information, such as an email and phone number, that is monitored during business hours to facilitate inquiries about the sale.

  • Freedom in Sale Process: The park owner is not required to sell to the residents or their representatives and can continue negotiations with other potential buyers without delay.

  • Agency Role: The Minnesota Housing Finance Agency must distribute copies of the owner’s notice to registered resident representatives and nonprofits within five days of receipt and maintain a publicly accessible list of such contacts on their website.

Significant Changes to Existing Law

  • Introduces specific requirements for park owners to communicate unsolicited offers to sell.
  • Mandates the inclusion of key details about the sale in the owner’s notification to residents and the Minnesota Housing Finance Agency.
  • Emphasizes timely responses to inquiries from residents and nonprofits through monitored contact information.
  • Formalizes a process for nonprofits and resident representatives to register with the Minnesota Housing Finance Agency to receive such notices.

Relevant Terms

  • Manufactured home park
  • Unsolicited offer
  • Minnesota Housing Finance Agency
  • Resident representative
  • Nonprofit organization
  • Purchase notification
  • Sale negotiations

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 31, 2025SenateFloorActionIntroduction and first reading
March 31, 2025SenateFloorActionReferred toHousing and Homelessness Prevention

Citations

 
[
  {
    "analysis": {
      "added": [
        "Provides a monitored email address and phone number for inquiries regarding the sale.",
        "Requires Minnesota Housing Finance Agency to distribute notices to registered nonprofits."
      ],
      "removed": [],
      "summary": "Modifies notice requirements for unsolicited manufactured home park sales under section 327C.097.",
      "modified": [
        "Clarifies the obligations of park owners regarding notifications and offers."
      ]
    },
    "citation": "327C.097",
    "subdivision": "subdivision 3"
  }
]

Sponsors