Housing; public corporations authorized relating to properties converted under the federal Rental Assistance Demonstration program, and funding authorized through the MHFA.

HF 2480 authorizes Minnesota housing and redevelopment authorities to create new public corporations specifically to purchase, own, and operate properties converted under the federal Rental Assistance Demonstration (RAD) program. These corporations can access funding through the Minnesota Housing Finance Agency (MHFA) to preserve and improve these public housing properties. The bill amends several housing statutes to define the legal structure, powers, and funding mechanisms for these entities, effective July 1, 2025. It directly affects housing authorities managing RAD properties by providing a new administrative framework for their long-term stewardship.