Housing infrastructure bonds usage on adaptive reuse to develop supportive housing and permanent housing for households at or below 50 percent of the area median income authorization provision

SF 1799 amends Minnesota Statutes section 462A.37 to allow housing infrastructure bonds to fund adaptive reuse projects for supportive and permanent housing. It specifically authorizes bonds to finance the acquisition, rehabilitation, or adaptive reuse of buildings to create housing affordable for households earning at or below 50% of the area median income (AMI), as defined by HUD. The bill requires new construction or adaptive reuse projects to include accessibility features, such as roll-in showers in at least 5% of units, and prioritizes projects serving veterans or those without stable housing for 12+ months. This policy directly affects low-income households and housing developers seeking to repurpose existing structures for affordable housing.