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HF 2461

Housing development fund money transferred, and money appropriated for the manufactured home down payment assistance program and the manufactured home park cooperative purchase program.

2025-2026 Regular Session Introduced by Esther Agbaje and 5 co-sponsors

Transfers Housing Development Fund money to fund down payment assistance for manufactured homes and to support resident-owned park purchases.

Author added Johnson, W.
#housingandhousingfinanceagency
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Bill Summary · HF 2461

Summary: HF 2461 (Minnesota, 2025-2026)

Overview

HF 2461 proposes adjustments to housing-related funding in Minnesota, including the transfer of Housing Development Fund money and additional appropriations to support two targeted programs: (1) the Manufactured Home Down Payment Assistance Program and (2) the Manufactured Home Park Cooperative Purchase Program. The bill identifies specific authors and sponsors and outlines proposed changes to funding streams aimed at expanding access to affordable housing, with a focus on manufactured housing and related financing programs.

  • Session: 2025-2026
  • Jurisdiction: Minnesota
  • Title: Housing development fund money transferred, and money appropriated for the manufactured home down payment assistance program and the manufactured home park cooperative purchase program
  • Primary focus: Reallocation/augmentation of housing development fund resources to support manufactured housing initiatives

Purpose and Intent

  • To reallocate or transfer funds from the Housing Development Fund (HDF) to support targeted housing programs.
  • To bolster affordability and homeownership opportunities for residents through:
    • Manufactured home down payment assistance
    • Manufactured home park cooperative purchase initiatives
  • Aimed at expanding access to affordable housing options, particularly in the manufactured housing sector, and assisting buyers or resident-owned cooperatives to acquire manufactured home parks or homes.

Key Provisions (Proposed Provisions at a High Level)

  • Transfer of money within or into the Housing Development Fund to support specified programs.
  • Appropriations (new or augmented) dedicated to:
    • Manufactured Home Down Payment Assistance Program
    • Provides financial assistance to eligible buyers purchasing manufactured homes, reducing the upfront down payment barrier.
    • Manufactured Home Park Cooperative Purchase Program
    • Facilitates the purchase of manufactured home parks by resident cooperatives or similar entities, promoting resident ownership and stability.
  • Direction on permissible uses of transferred/appropriated funds (e.g., down payment grants, loan subsidies, program administration, or technical assistance).
  • Possible eligibility criteria, application process, and reporting expectations for program participants (typical for state housing programs), though specific criteria are not detailed in the summary.

Beneficiaries and Impacts

  • Targeted Beneficiaries:
    • Individuals and families seeking affordable housing options through manufactured homes.
    • Residents of manufactured home parks seeking to establish or join a resident-owned cooperative or to purchase the park.
  • Potential Impacts:
    • Increased access to down payment assistance for manufactured homes, reducing financial barriers to homeownership.
    • Enhanced stability and potential long-term affordability through resident-owned park models.
    • Increased program administration and oversight to ensure funds are used effectively and reportable outcomes are tracked.

Procedural and Timeline Aspects

  • Introduction and first reading occurred on March 17, 2025, with referral to the Housing Finance and Policy committee.
  • Additional actions recorded:
    • March 20, 2025: Co-sponsor Pursell added.
    • March 23, 2026: Johnson added as author.
  • As HF 2461 is in early stages of the legislative process, final provisions, fiscal notes, and timeline for enactment (e.g., appropriations year, effective dates) would be determined through committee hearings and potential amendments.

Notes

  • The summary reflects the bill’s stated title and action history. Specific dollar amounts, eligibility thresholds, repayment terms, funding limits, and administrative details will be clarified in the bill’s text, fiscal notes, and subsequent committee amendments.
  • Stakeholders likely affected include manufactured home buyers, manufactured home park residents, park owners, lending institutions participating in program financing, and local housing policymakers.

Compiled from official sources — confirm details with the bill’s official record.

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