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Information on Minnesota State Agencies, Boards, Task Forces, and Commissions
Compiled by the Minnesota Legislative Reference Library
Housing Finance Agency
Also known as:
Minnesota Housing Finance Agency
Function: Provides housing for low and moderate income persons.
The Minnesota Housing Finance Agency was created by the legislature in 1971 to help provide decent, safe, sanitary, and affordable housing for low and moderate income Minnesota residents (Laws 1971 c702). Federal assistance was at a peak when the legislation was passed, but high inflation, dramatic changes in the housing market, and the abrupt halt of federal involvement prevented the agency from becoming operational until 1974. In its first year of operation, the agency provided financial assistance for the construction of 2,000 housing units and the purchase of homes for over 1,250 Minnesota families. The agency facilitates construction and rehabilitation of housing by providing for mortgage loans, development loans, and technical assistance to qualified housing sponsors to be used for such construction and rehabilitation. These programs are financed primarily through the sale of tax exempt revenue bonds which are supplemented with some state and federal appropriations, and in some instances, local government funds.
Seven members: the state planning director, the state auditor, and five members appointed by the governor for four-year terms. The chairman is selected from one of the appointed members.
As of 1992, it appears that the commissioner of the Department of Trade and Economic Development had replaced the state planning director. (Source: Official communication from the office of the governor of the state of Minnesota, 18 September 1992)
Executive director; term, 4 years or pleasure of governor. Jim Solem, -1994; Kit Hadley, 1994- ; Mary Tingerthal -
Record last updated:
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