Housing infrastructure bonds authorized, and money appropriated.

HF 2549 authorizes the issuance of $44.66 million in housing infrastructure bonds specifically for the St. Paul Port Authority’s The Heights housing development project. The funds must be used for affordable housing meeting income limits set in Minnesota law (section 462A.33, subdivision 5). The bill adds a new provision to Minnesota Statutes allowing this bond authorization and requires annual transfers from the general fund to support debt service on these bonds. This bill directly affects the St. Paul Port Authority and residents of The Heights development, which is intended to provide housing for low-to-moderate-income households.