Locally controlled housing fund establishment

SF 1913 creates a new "locally controlled housing fund" within Minnesota's housing development fund to support affordable housing projects. The fund provides financial assistance to eligible local entities (cities, counties, tribes, community land trusts, or housing authorities) for acquiring, rehabilitating, or building housing that meets specific affordability requirements. Key provisions require that 30% of units serve households earning ≤50% of area median income, 30% serve households earning 50-100% of area median income, and all housing must be accessible with no income-based segregation. Funds operate as a reusable revolving loan, with recipients retaining ownership stakes of at least 75% and agreeing to long-term affordability restrictions for tenants. This directly affects low-to-moderate-income households and local governments seeking to expand affordable housing stock.