Manufactured home down payment assistance program and the manufacture home park cooperative purchase program appropriation
Impact
The bill allocates $5 million specifically for a manufactured home down payment assistance program. This program is designed to help eligible buyers access funds for down payments, thereby making it easier for them to secure financing. In addition to supporting individual home buyers, the legislation also proposes another $5 million for a manufactured home park cooperative purchase program. This program aims to facilitate the conversion of manufactured home parks into cooperatively owned entities, aligning with broader goals of promoting sustainable and community-oriented housing solutions.
Summary
SF2681 is a legislative bill focused on housing initiatives in the state of Minnesota. It outlines funding mechanisms aimed at assisting individuals seeking to buy manufactured homes. The bill proposes a one-time transfer of $10 million from the general fund to the housing development fund, emphasizing the state's commitment to improving access to homeownership for citizens. Such financial support is critical, given the challenges faced by many in affording housing in today's economic climate.
Contention
While the bill has gained support for its intentions and provisions, potential points of contention may arise regarding the management of the housing development fund and the effectiveness of the proposed programs. Stakeholders might debate the adequacy of the funding amounts, as well as the specific eligibility criteria for participants in the assistance programs. Moreover, discussions could center on the responsibilities of governmental bodies and organizations involved in administering these funds, considering past challenges in similar housing initiatives.
Similar To
Housing development fund money transferred, and money appropriated for the manufactured home down payment assistance program and the manufactured home park cooperative purchase program.
Manufactured home park redevelopment program modification; manufactured home park lending and the purchase of manufactured home parks by cooperatives grant programs establishment; appropriating money
Manufactured home park redevelopment program modified, manufactured home park lending and purchase of manufactured home parks by cooperatives grant programs created, and money appropriated.
Down payment assistance program established for purchase of cooperative housing, affordable housing cooperative technical assistance program established, reports required, and money appropriated.
Relative to tenant and contract manufacturers of beer, wine, and liquor; allowing pharmacists to administer influenza, COVID-19, and other FDA licensed vaccines without explicit approval from the general court; and, restricting the purchase of real property on or around military installations.