ST. PAUL – Today, Rep. Connie Bernardy (DFL-New Brighton) presented legislation to the House Property Tax Division to expand grant and loan programs for housing in Fridley.
“Minnesotans deserve an affordable place to call home,” said Rep. Bernardy. “By using this economic development tool, we can expand homeownership and home improvement opportunities for Fridley residents and families.”
This bill would authorize the city of Fridley to use increment from Tax Increment Financing (TIF) District No. 20, a redevelopment district, to fund grant and loan programs for housing located outside the district. Only programs adopted by the Fridley Housing and Redevelopment Authority as of December 31, 2021, could be funded through increment.
The bill was laid over for possible inclusion to the Property Tax Division Report.
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