2025 Session
Last amended: 1999 session
§ 504B.451 — Receivership Revolving Loan Fund
Plain-Language Summary
The Minnesota Housing Finance Agency can set up a loan fund to cover the costs of court-appointed building administrators for properties serving low- and moderate-income residents. Landlords must repay these loans.
504B.451 RECEIVERSHIP REVOLVING LOAN FUND.
The Minnesota Housing Finance Agency may establish a revolving loan fund to pay the administrative expenses of receivership administrators under section 504B.445 for properties for occupancy by low- and moderate-income persons or families. Landlords must repay administrative expense payments made from the fund.
History:
History: History:
1999 c 199 art 1 s 69
Practical Notes
This provides a funding source so building administrators can operate even when rent payments alone are not enough to fix serious problems in affordable housing.