HF4901
Minneapolis Public Housing Authority bonds issued for the Glendale Townhomes development project.
Legislative Session 94 (2025-2026)
Related bill: SF5150
AI Generated Summary
Purpose
To authorize a new source of funding for the redevelopment of the Glendale Townhomes in Minneapolis by allowing the state housing agency to issue housing infrastructure bonds and provide the bond proceeds as a grant to the Minneapolis Public Housing Authority (MPHA) or to MPHA-affiliated entities.
Main Provisions
- Enables the agency to issue up to $7,000,000 in housing infrastructure bonds, in one or more series, with payments on the bonds pledged as part of the financing.
- Proceeds from the sale of these bonds must be awarded as a grant to MPHA or to one or more MPHA-affiliated entities (including affiliates, limited partnerships, limited liability companies, or other entities in which MPHA has an ownership interest or serves as managing member or general partner).
- The purpose of the grant is the redevelopment of the Glendale Townhomes in the city of Minneapolis.
- This authorization is added as a new subdivision (Subd. 2l) to Minnesota Statutes 2024 section 462A.37.
- The new subdivision is in addition to existing authorizations in subdivisions 1.x, 2 through 2k, and 3a.
Changes to Existing Law
- Adds Subdivision 2l (Additional authorization) to Minnesota Statutes 2024 section 462A.37.
- Explicitly creates a new, capped bond authorization up to $7,000,000 and directs the bond proceeds to be grants for MPHA and its eligible partner entities for the Glendale Townhomes redevelopment.
- Expands the mechanisms for using housing infrastructure bonds to support public housing redevelopment in Minneapolis.
What It Means (Impact)
- Provides a new tool to finance redevelopment of public housing through grants funded by bond sales.
- Strengthens MPHA’s financing options by allowing grants to MPHA and its partner entities involved in the Glendale Townhomes project.
- Could accelerate redevelopment efforts by securing dedicated grant funding via bond proceeds.
Relevant Terms
housing infrastructure bonds; grant; Minneapolis Public Housing Authority (MPHA); Glendale Townhomes; affiliates; limited partnerships; limited liability companies (LLCs); general partner; managing member; one or more series; payments pledged; Minnesota Statutes 2024 section 462A.37; Subdivision 2l; additional authorization; redevelopment; city of Minneapolis.
Bill text versions
- Introduction PDF PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| April 09, 2026 | House | Action | Introduction and first reading, referred to | Housing Finance and Policy |
Citations
[
{
"analysis": {
"added": [
"Subd. 2l added to authorize up to $7,000,000 in bonds and designate grant funding to Minneapolis Public Housing Authority or affiliates for Glendale Townhomes redevelopment."
],
"removed": [],
"summary": "Amends Minnesota Statutes 462A.37 by adding subdivision 2l, creating an additional authorization for housing infrastructure bonds to fund a grant to the Minneapolis Public Housing Authority for Glendale Townhomes redevelopment.",
"modified": []
},
"citation": "462A.37",
"subdivision": "2l"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "References Minnesota Statutes 2025 Supplement section 462A.37, subdivision 5, as part of the bill amending the statute to include additional authorizations.",
"modified": []
},
"citation": "462A.37",
"subdivision": "5"
}
]Progress through the legislative process
In Committee