Rondo Community Land Trust grant funding provided, and money appropriated.

HF 2559 appropriates $11.5 million from the general fund for a one-time grant to the Rondo Community Land Trust through the Minnesota Housing Finance Agency. The funds must support a home buyer initiative pilot program targeting households with incomes at or below 115% of the area median income (as defined by HUD). This legislation directly affects low-to-moderate income households in Minneapolis, particularly in the historically Black Rondo neighborhood, by funding affordable homeownership opportunities. The grant requires the trust to use the money exclusively for this specific pilot program, with no ongoing annual funding.