1.1 	A bill for an act
1.2 	relating to housing; regulating transactions between certain low-income and 
1.3 	moderate-income housing developers and local units of government; proposing 
1.4 	coding for new law in Minnesota Statutes, chapter 462A.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. [462A.35] CITY PROPERTY TRANSFERS TO NONPROFIT 
1.7 	ORGANIZATIONS.
1.8 	If a nonprofit organization receives funding from the agency for a project to 
1.9 	construct or rehabilitate low-income or moderate-income housing, and a city or an agency 
1.10 	of a city is transferring property to the organization for the project, the city must convey or 
1.11 	otherwise transfer the property to the organization for a consideration no greater than the 
1.12 	cost to the city for acquisition of the property. The city must also waive all development 
1.13 	and other fees related to the project that it would otherwise impose.