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• CHAPTER 16 The sale of state tax-exempt bonds is the primary financing for WHA programs. The nature of these bonds allows the MHFA to make below- market interest rate loans for the construction or rehabilitation of single-and multi-family housing.Appropriations from the Legislature provide additional funding for programs, including: the-promotion of energy conservation; an increase in home ownership opportunities for first-time homebuyers; home improvement grants to very low-income homeowners; and programs to improve the housing available to Native Americans, large families, and the disabled. H. Department of Employment and Economic Development Minn.Stat.ch. 116J. The Minnesota Department of Employment and Economic Development For more information contact (DEED) is the primary development agency for Minnesota. DEED staff is DEED at 500 Metro Square responsible for a wide range of grant and loan programs, as well as for Building,121 East Seventh Place, providing technical assistance to businesses and communities. St.Paul,MN 55101-2146,(65 1) 297-1291 or(800)657-3858. Minn.Stat.§§ 116J.411 to DEED also provides grants for contamination cleanup and redevelopment, • 116J.424. administers the rural development program,makes challenge grants to The Center for Rural Policy and regional organizations to encourage private investment in rural areas, and ` Development may be contacted at administers a revolving loan fund to provide loans to new and expanding 120 Alumni Foundation Center, business in rural Minnesota. Local government units, including cities,may Mankato,MN(507)389-2599. receive these loans if the community has established a local reviving loan fund and can provide at least an equal match to the loan received. Minn.Stat.§ 116J.431. The 2002 Legislature established DEED's greater Minnesota business Greater Minnesota Business development infrastructure grant program. Cities outside the seven-county Development Infrastructure Grant metropolitan area may receive grants for up to 50 percent of the capitol costs Program. of public infrastructure necessary for certain specified economic development projects excluding retail and office space. Minn stat.§272.02,subd.64. The 2003 Legislature authorized DEED to create as many as 10 "tax-free" job opportunity building zones(JOBZ)of up to 5,000 acres each outside the metropolitan area. In each of these zones,businesses will be eligible for a broad range of tax incentives for a period of 12 years.Under the program, local units of government,including cities, submitted applications to DEED. • HANDBOOK FOR MINNESOTA CMES 16-13 This chapter last revised 12/15/2004