<div class="xtend">
         <div class="xtend_ce"><a id="pl.1.1"></a><var>1.1</var>A bill for an act<br />
            		
         </div><a id="pl.1.2"></a><var>1.2</var>relating to housing; regulating transactions between certain low-income and <br />
         		<a id="pl.1.3"></a><var>1.3</var>moderate-income housing developers and the city of Minneapolis; proposing <br />
         		<a id="pl.1.4"></a><var>1.4</var>coding for new law in Minnesota Statutes, chapter 462A.<br />
         		<a id="pl.1.5"></a><var>1.5</var>BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:<br />
         		<br />
         		<a id="bill.0.1.0"></a><a id="pl.1.6"></a><var>1.6</var>&nbsp;&nbsp;&nbsp;&nbsp;Section 1. <b>[462A.35] CITY PROPERTY TRANSFERS TO NONPROFIT </b><br />
         		<a id="pl.1.7"></a><var>1.7</var><b>ORGANIZATIONS.</b><br />
         		<a id="pl.1.8"></a><var>1.8</var>If a nonprofit organization receives funding from the agency for a project to construct <br />
         		<a id="pl.1.9"></a><var>1.9</var>low-income or moderate-income housing in the city of Minneapolis and if the city is <br />
         		<a id="pl.1.10"></a><var>1.10</var>transferring vacant property to the organization for the project, the city must convey or <br />
         		<a id="pl.1.11"></a><var>1.11</var>otherwise transfer the property to the organization for a consideration no greater than the <br />
         		<a id="pl.1.12"></a><var>1.12</var>cost to the city for acquisition of the property. The city must also waive all development <br />
         		<a id="pl.1.13"></a><var>1.13</var>and other fees related to the project that it would otherwise impose.<br />
         		<a id="pl.1.14"></a><var>1.14</var><b>EFFECTIVE DATE.</b>This section is effective the day after compliance by the <br />
         		<a id="pl.1.15"></a><var>1.15</var>governing body of the city of Minneapolis with Minnesota Statutes, section 645.021, <br />
         		<a id="pl.1.16"></a><var>1.16</var>subdivision 3.<br />
         		
      </div>