Annual volume cap allocations and allocation procedure modification for public facility projects funded by public facility bonds

SF 2862 modifies Minnesota's allocation system for public facility bonds, increasing the annual funding pool for public facility projects from $12.75 million to $61.78 million. It also adjusts housing program allocations to reserve 31% of funds for single-family housing (up from 27%) and extends the deadline for issuers to permanently issue bonds from 120 to 180 days. The bill revises application procedures, requiring a 2% deposit for most projects and establishing a new schedule for allocating funds every other Monday from July through November. These changes directly affect local governments, housing authorities, and public facility developers seeking bond financing under Minnesota's public facility bond program.